Cameroon As An Investment Destination

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Cameroon has abundance of natural resources such as bauxite ore, oil and gas, and iron. It is one of the major global producers of agricultural products such as cocoa, coffee, bananas, palm products, tobacco, rubber, cotton, maize, and cassava. There is freedom of starting a trade in Cameroon as a foreign investor. Cameroon gained its independence from France on 1 January 1960. It is a multiparty presidential republic with the President sitting as both the Head of State and government. It shares borders with Nigeria, Congo, Equatorial Guinea, and Gabon on the South, the Central Africa Republic on the East, and Chad on the North East. Cameroon is one of the major global producers of agricultural products such as cocoa, coffee, bananas, palm products, tobacco, rubber, cotton, maize, and cassava. It has consistently achieved robust GDP growth in the past 5 years having grown 4.8 percent over the period. Foreign Direct Investment (FDIs) reached 488 million dollars in Cameroon in 2019, a sharp decline from the 1027 million dollars recorded in 2019. This is due to the global health and economic crisis triggered by the Covid-19 pandemic. FDI stocks are estimated to account for 9 billion dollars in 2020. The Cameroonian government has targeted certain sectors as priority sectors for investment. Large French companies are well placed in these developing sectors. China has been investing steadily in Cameroon with total Chinese direct and indirect investments amounting to 2.43 billion dollars in 2016 according to the Cameroonian Ministry of Economy.

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