Cameroon

Cameroon is a lower-middle-income country with a population of 29.3 million. It has a land mass of 475,442km² and a coastline of 360km located along the Atlantic Ocean. It shares its borders with the Central African Republic, Chad, Equatorial Guinea, Gabon and Nigeria. Two of its border regions with Nigeria (northwest and southwest) are Anglophone, while the rest of the country is Francophone. Cameroon is endowed with rich natural resources, including oil and gas, mineral ores and timber, and agricultural products such as coffee, cotton, cocoa, maize, and cassava. Cameroon\'s GDP was US$47.95 in 2023.\r\n\r\nGDP growth is projected to reach 4.1% in 2024 and 4.4% in 2025 due to a gradual increase in domestic gas production and higher world commodity prices. Inflation is projected to fall to 6.3% in 2024 and 4.3% in 2025.\r\n\r\nCameroon’s National Development Strategy for 2030 aims to create an enabling environment for investments to spur job growth, including investment incentives. The strategy focuses on boosting local production, developing infrastructure, and leveraging technology for growth and employment. In 2023 and 2024 expanded investment incentives for agricultural, drinking water, and renewable energy projects. Medical equipment, equipment for livestock and fisheries, and vehicle parts also received breaks from customs import duties and it has introduced policies aimed at encouraging firms to hire Cameroonians, including a surtax on the salaries of non-Cameroonian employees.\r\n\r\nIn 2023 LSE listed Oriole Resources announced the discovery of lithium Adamaoua and Littoral regions which presents a significant economic opportunity for the country. \r\n\r\nEconomic growth in recent years has predominately been driven by expansion in the secondary sector, with the oil-producing and construction sectors having exceptional growth, and industrial development will predominantly be driven by the implementation of large-scale infrastructure investments such as the Lom Pangar power station and the port of Kribi.\r\n

Sources: Who Owns Whom sector reports, CIA Factbook, African Development Bank, World Bank, Trading Economics, African Statistical Yearbook and IMF.