Cameroon
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Business Potential in Cameroon
COUNTRY PROFILE
A diverse country with large potential Cameroon is a culturally and environmentally diverse coastal country in Africa, which lies on the western side of Central Africa, with a land area of 475,442 square kilometres. Cameroon’s 2019 population is estimated at 25.88 million, up substantially from the 2002 census population of 17.4 million. Over 56% of the country having been urbanized to date. Yaoundé is Cameroon’s capital, with a population of 2.5 million, The largest city is Douala, with more than 3 million residents.
Douala is the 27th most expensive city on earth, and the most expensive African city.
Cameroon Today
Market-based, rapidly growing economy Cameroon is the largest economy in the Central African Economic and Monetary Community (CEMAC). Cameroon’s market-based, diversified economy features oil and gas, timber, aluminium, agriculture, mining and the service sector. Oil is Cameroon’s main commodity, accounting for nearly 40% of exports. Economic growth in Cameroon accelerated in 2018 to reach 3.8% for the year, driven by an increase in natural gas, with a new liquefied natural gas (LNG) offshore terminal coming online; an uptick in agriculture, boosted by stronger demand from neighbouring Chad, CAR, and Nigeria.
Cameroon devotes significant resources to several large infrastructure projects currently under construction, including a deep seaport in Kribi and the Lom Pangar Hydropower Project.
Cameroon continues to seek foreign investment to improve its inadequate infrastructure, create jobs, and improve its economic footprint, but its unfavourable business environment remains a significant deterrent to foreign investment.
Share and value of household consumption in Africa