About Cameroon

“Africa in miniature”

COUNTRY PROFILE

A. General Overview

The Republic of Cameroon is a Central African nation often described as “Africa in miniature” due to its wide range of climates, landscapes, and cultures. It combines a young and growing population with a strategic geographic position that makes it a natural gateway to Central Africa.

Geography & Demographics

● Location: Central/West Africa; bordered by Nigeria, Chad, Central African Republic, Gabon, Equatorial Guinea, Republic of Congo, and the Atlantic Ocean.
● Population: ~ 30 million (2025 est.), with a median age of about 19 years.
● Major Cities: Yaoundé (political capital), Douala (economic hub and main seaport), Bafoussam, Garoua, Bamenda.
● Diversity: More than 250 ethnic groups and languages; official languages are French and English.

Political & Administrative Context

● Government Type: Unitary presidential republic.
● President: Paul Biya
● Administrative Division: 10 regions, each overseen by a governor appointed by the central government.

Economy

● GDP (2025 est.): Over USD 50 billion, the largest economies in Central Africa.
● Currency: Central African CFA franc (XAF), shared within the CEMAC region, pegged to the euro.
● Key Sectors:
○ Agriculture: Cocoa, coffee, cotton, palm oil, bananas, cassava, maize.
○ Oil & Gas: Major foreign exchange earner.
○ Forestry & Timber: Large reserves, though subject to sustainability concerns.
○ Mining: Untapped potential in bauxite, iron ore, cobalt, and gold.
○ Services & Finance: Growing but still relatively shallow.
● Strengths: Access to CEMAC (55+ million people), Douala port as regional hub, diversified natural resources.
● Challenges: Infrastructure deficits, corruption, bureaucratic hurdles, and reliance on primary commodities.

Infrastructure & Connectivity

Transport: Douala and Yaoundé host international airports; road and rail links are expanding but remain limited outside major cities.
Energy: Dominated by hydro and thermal power, with growing investment in renewables.
Digital: High mobile phone penetration, internet access growing steadily but uneven across rural areas.

Culture and Society

Bilingual nation with rich cultural heritage.
Music, dance, and festivals play a central role in identity.
Cuisine includes staples like plantains, cassava, maize, beans, and palm oil dishes.

Investment Climate

Memberships: African Continental Free Trade Area (AfCFTA), CEMAC, WTO.
Attractive Sectors:
- Agro-processing and agribusiness
- Energy (renewables, gas-to-power, hydro)
- Mining and natural resources
- Financial services (fintech, microfinance, insurance)
- Infrastructure (roads, ports, housing, ICT)
Incentives: Special economic zones, tax breaks for priority sectors, government partnerships for infrastructure.
Barriers: Regulatory complexity, governance concerns, political risks in conflict-affected areas.

Success stories in Cameroon

1. Canyon Resources / Camalco – Minim-Martap bauxite project

In mid-2024, Cameroon signed a major deal with Australia-based Canyon Resources to develop the Minim-Martap bauxite mine. The project is valued at over US$2 billion, with plans to mine ~99.1 million metric tons over 20 years, produce ~5 million tons annually, and build supporting infrastructure (rail, roads, energy, and port facilities) to move the material for export.

This shows how natural resources with scale can attract large foreign mining investors, and that government willingness exists for infrastructure support tied to such projects.

2. Growth in cocoa processing / agro-food exports

Cameroon has significantly boosted its exports of cocoa derivatives (butter, powder, oil). Since 2015, companies like SIC Cacaos (Swiss group), Neo Industry, Atlantic Cocoa, and Africa Processing Company have been expanding grinding/processing capacity.
For example, in 2023 about 73,236 tons of cocoa derivatives were exported, generating CFA 153 billion in export earnings.
Expansion plans are under way: Neo Industry wants to multiply its capacity significantly; Atlantic Cocoa is raising its annual capacity as well.

3. Maviance (Smobilpay) – fintech payments scaling

Maviance PLC, which operates the digital payments platform Smobilpay, has secured multiple investment rounds. One major investment was from MFS Africa, which expanded its capital and investor base.
It handles substantial transactional volumes (billions of CFA francs monthly) and is expanding both in Cameroon and the broader CEMAC region.

4. Koree – fintech innovation and international recognition

Koree, a Cameroon-based fintech, won the 2023 Ecobank Fintech Challenge (among ~1,400 fintechs from 64 countries). Its solution helps with “small change” issues (round-ups at merchant payments, digital wallet etc.). Prize was US$50,000 plus access to partnerships/mentoring.
Winning such competitions raises visibility, credibility, which helps with funding and partnerships.

5. Lamana – local agro-food brand scaling with support

Lamana is a Cameroonian company producing baby foods under the Blesolac brand, using locally-sourced ingredients and replacing many imports.
It is supported by the investment group I&P (Impact & Performance) through its “Acceleration in Sahel” programme: support includes improved machinery, marketing, and management strengthening.

6. Prometal Groupe – steel processing and agro-food in industrial zones

Prometal Groupe, which is foreign-led (with factories in Douala’s industrial zones of Bassa and Bonabéri), is expanding its capacity. It operates multiple factories, including agro-food manufacturing and steel processing, and is planning a new aluminum processing facility (its 7th factory).
— It was awarded a “Foreign Investment Champion” title in Cameroon for its contributions.

These stories highlight several useful patterns:

Foreign capital often comes into sectors tied to natural resources (mining, agriculture) and processing of export-able goods.

Local companies or startups with good models + international/global partnerships/funding are scaling (Maviance, Lamana, Koree).

Government tends to support through regulatory approvals, incentives, and infrastructure when projects are large or export-oriented.

Industrial zones (e.g. around ports) are useful hubs for manufacturing, processing, and export products.