Cameroon: Focus on growth, industrial lever activated
Faced with the challenges of financing and economic transformation, the country is focusing on increasing the mobilization of its internal resources, industrialization, and the optimization of its human, natural, and financial capital. The African Development Bank (AfDB) warns that Cameroon must take decisive action to transform its potential into a driver of sustainable development. In its 2025 Country Report, presented in Yaoundé on July 28, the institution highlights the levers for growth, starting with increased mobilization of domestic resources. According to the report, GDP growth is projected at 3.6% in 2024 and could reach 4.2% in 2025 if structural reforms are effectively implemented. “Cameroon has significant natural, human, and financial capital, but its impact on growth remains below expectations. It is time to make the most of this capital” said Ameth Saloum Ndiaye, the AfDB’s lead country economist. Key recommendations include the gradual reduction of fuel subsidies (around 2% of GDP in 2023), increased digitization of tax administrations, the restructuring of 27 strategic public enterprises, and the adoption of a National Integrated Financing Strategy (SNFI) to diversify sources of financing. “There is an urgent need to make the tax system more equitable and efficient,” added Godwill Kan Tange, national economist. In 2022, more than 590 billion CFA francs were granted in tax exemptions, representing approximately 2.7% of GDP, a level considered unsustainable. At the same time, the manufacturing sector grew by 6.8%, illustrating the potential for industrialization. The Secretary General of the Ministry of Economy, Jean Tchoffo, praised the relevance of the proposals: “This report comes at a key moment, as Cameroon is conducting a mid-term review of the implementation of the SND30. It will help to restore solid growth and accelerate the structural transformation of our economy.” The AfDB also emphasizes the importance of human capital development: in 2023, the youth unemployment rate reached 13.1% and the informal sector employed nearly 88% of the working population. Investment in training, regional infrastructure, and local processing of commodities is seen as strategic. “Cameroon holds all the cards. What it needs now is rigorous implementation of reforms and better coordination among stakeholders” concluded Mamadou Tangara, AfDB Director General for Central Africa.
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