TOP 100 ECONOMIC IN CAMEROON

Abdeladim ARNOUS, The ambitious Moroccan cement-manufacturer

Abdullahi BABA, The man behind the success of Dangote Cement in Cameroon

Adolphe MOUDIKI, He who commands Cameroon’s state-owned oil company

Adrien BECHONNET, The French face in the downstream oil sector

Adrien BROCHE, The concessionaire of oil and gas fields

Alain DUFOURNIER, The experienced manager steering the wheels of Tractafric

Alain MALONG, The industrialist plunged in the dark

Alain Noël Olivier MEKULU MVONDO, The austere pension fund manager

Alamine Ousmane MEY, The economic planner

Albert KOUINCHE, The domestic money transfer expert

Alexandre VILGRAIN, The sugar distribution giant

Alphonse NAFACK, The Lord of bankers

André SIAKA, From the president of GICAM to head of a top construction firm

Andrew ROSS, The man in charge of the Guinness tap in Cameroon

Augusto SOARES DOS REIS, The futuristic power producer

Aurélie CHAZAI, The brilliant mind behind Chazai & Partners

Baba DANPULLO, The tea emperor adds more strings to his bow

Benoît GALICHET, The awakener of Cimencam

Bernard FOKOU, Godfather of the construction sector

Bernard NDONGO ESSOMBA, The man who built a fortune trading Cameroonian cocoa

Bony DASCHACO, The communication expert behind Acmar Media Group

Célestin TAWAMBA, The n°1 boss with assets in the flour and drug industries

Charles Rollin OMBANG EKATH, The mighty microfinance manager

Colin EBARKO MUKETE, The chair of MTN Cameroon’s board, doubling as a shareholder

Cyrus NGO’O, A pivotal actor of external trade

Daniel KALBASSOU, The Sahelian-inspired financier

Dieudonné BOUGNE, The oil retailer dives into the mining industry

Du YIN, The strategic partner

Emmanuel DE TAILLY, A brewer with 6,500 employees

Emmanuel PEUGHOUIA, The first Cameroonian to invest in cement production

Éric FRIEND, He aims for a national economy running at full throttle!

Francis NANA DJOMOU, From cosmetics to tourism

Franklin NGONI IKOME NJIE, The second-largest employer in Cameroon after the State

Frédéric DEBORD, Emissary of mobile operators

Frédéric MVONDO, Economist turned energy provider

Georges James NDZUTUE FOTSO, A leasing expert with a passion for finance

Georges Léopold KAGOU, A strategist in the insurance sector

Gordon ACHA, The investment banking specialist

Gwendoline ABUNAW, A reliable professional at the head of Ecobank Cameroon

Hayssam EL JAMMAL, King of steel

Jacques JONATHAN NYEMB, The preferred adviser of business owners

Jean Claude NGBWA, Head of the Unified Financial Market

Joël NANA KONTCHOU, Energy provider of Cameroon

Julien BESANCON, Five-star hotelier

KADJI Family, Monarchs ruling a beer empire

Kate KANYI FOTSO, An iron lady with a strong grip on the cocoa sector

Léonce AUGOU, The MD preceded by his reputation at Chanas assurances

Li JIANBIH, The pampered builder

Louis Paul MOTAZE, Keeper of public wealth

Lucas DJEMMO, A big shot in the building materials sector

Ludovic MINOUE, Exporter of 100% organic products

Ludovic SIELIENOU, Master of domestic gas distribution

Lynda AMADAGANA OLEMBA, A lawyer with expertise in mining, energy, and infrastructure

Marc KAMGAING, Manager of the Beac’s pension fund

Marème MBAYE NDIAYE, A lioness who imposed herself in a land of lions

Marie MBALLA BILOA, The Bayam-Selam Queen

Marthe Angéline MINJA, Chief Investment Facilitator

Mathurin KAMDEM, The architect of Douala Grand Mall

Minette LIBOM LI LIKENG, The star of Cameroon’s customs

Modeste MOPA FATOING, The taxman

Mohamadou ABBO OUSMANOU, The 83-year billionaire industrialist who refuses to bend the knee

Mohamadou BAYERO BOUNOU, The miracle worker of the cotton sector

Mohamed DIOP, The super logistician

Mouhamadou NDIAYE, The hidden hero of sweet treat lovers

Nadine TINEN, A career in the high ranks of the tax auditing sector

Nana BOUBA, A shepherd with amazing ambitions

Nassrallah EL SAHELY, The shark who rules over Cameroon’s mineral water…

Nemesius MOUENDI MOUENDI, The corporate finance specialist

NOUTCHOGOUIN Family - The king of poultry is dead, yet his kingdom stands, as glorious as ever!

Ousmanou KOUOTOU, A confirmed logistician

Pascal FERRIER, Specialist of dessert bananas

Pascal MONKAM, A story of beer and hotels

Patrice MELOM, Maker of the port of Kribi competitive

Patrice YANTHO, He who whispers in the ears of investors

Patrick GRANDCOLAS, Captain of a drowning ship

Paul KAMMOGNE FOKAM, A Paul of all trades

Perrial Jean NYODOG, 20 years as the head of Tradex

Philippe TAGNE NOUBISSI, He who dreams of creating the Cameroonian Walmart

Pierluigi PASSERA, A cocoa tycoon

Pierre SIME, Boss of land freight transport

Pierre ZUMBACH, Father of the PROMOTE business fair

Rahul MITTAL, Head of one of Cameroon’s largest wheat flour supplier

René LIBONG, The boss of KPMG Central Africa

Richard LOWE, The real indomitable lion of the insurance sector

Robert HELOU, A big agribusinessman

Salamatou BANTSE, Revolutioner of business mobility

Samuel FOYOU, The multifaceted billionaire

Samuel NEOSSI, The successful cocoa buyer turned the industrial processor

Serge Yanic NANA, The ascending financial engineer

SOHAING Family, Céline Koloko preserves her father’s legacy

Sylvestre NGOUCHINGHE, All hail the king of the frozen fish industry

Théodore NSANGOU, He stands at the top of all energy infrastructures

Théophile Gérard MOULONG, The defender of insurers

Thierry KEPEDEN, The boss of AXA assurances in Cameroon

Thierry NYAMEN, A processor of local products

Victor MBEMI NYAKNGA, The linchpin of the power system

Wilfrid FLOTTES DE POUZOLS, The first line of defense against shoddy goods

Cameroon is a lower-middle-income country with a population of over 25 million (2019). 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 high-value species of timber, and agricultural products, such as coffee, cotton, cocoa, maize, and cassava.

Political Context

The first regional elections were held in December 2020. The ruling party, the Cameroon People’s Democratic Movement (CPDM), won nine of the ten regions. These elections mark the start of the decentralization process provided for in the 1996 Constitution. The new regional councilors will work with the Ministry of Decentralization and Local Development to pave the way for the gradual transfer of power and the necessary funds to the regions.

Having enjoyed several decades of stability, Cameroon has in recent years been grappling with attacks by Boko Haram in the Far North and a secessionist insurgency in the Anglophone regions. Since September 2017, this situation has displaced more than 500,000 persons internally and claimed the lives of close to 400 civilians and over 200 law enforcement officers. Following the resurgence of the crisis in the Central African Republic since January 2021, more than 6,000 Central Africans refugees have fled to Cameroon’s eastern region, which is already hosting over 60 % of Central African refugees.

According to the UN Refugee Agency (UNHCR), in March 2022 Cameroon was hosting over 460,000 refugees, primarily from the Central African Republic (320,000) and Nigeria (120,000).

Social Context

Because its poverty reduction rate is lagging behind its population growth rate, the overall number of poor in Cameroon increased by 12 % to 8.1 million between 2007 and 2014, and poverty is concentrated in the country’s northern regions, where 56 % of the poor live.

Economic Overview

In 2020, the COVID-19 pandemic caused a significant deterioration in economic activity. Household and business income losses linked to social distancing measures and the uncertainty surrounding the course of the pandemic led to a sharp decline in consumption. Public and private investments were also adversely affected. Public services, such as schools and non-COVID-related health services, were severely disrupted. The use of family planning and prenatal care services fell by 37 % and 18 %, respectively. It is estimated that the crisis increased the extreme poverty rate from 24.5 % in 2019 to 25.3 % in 2021.

Development Challenges

Ranked 144 out of 180 countries in the 2021 Transparency International corruption perceptions index, Cameroon suffers from weak governance, hindering its development and ability to attract investors.

Last Updated: Apr 19, 2022

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AÏSSATOU, The State investor

Yaouba BELLO, The discreet carrier

Courtesy BRM

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Cameroon: Banana exports grew by 27.8% at end of May 2022

Banana exports in Cameroon leaped 27.8% year-on-year at the end of May this year. Overall, 16,505 tons of fruit were sold on the international market over the period.

According to official stats, the market leader -Plantations du Haut Penja (PHP), shipped 13,623 tons of bananas in May 2022, up 27.41% against 9,888 tons in May 2021. The second most dynamic exporter, the public company Cameroon Development Corporation (CDC), recorded a 37.8% increase with 1,805 tons sold in May 2022, against 1,121 tons in May 2021. The minor player Boh Plantations Plc (BPL) followed the same trend, selling 179 tons more between the two periods (1,077 tons against 898 tons). That made an increase of 16.6%.

This performance was predicted in the business cycle forecast test published last April by the Bank of Central African States (Beac). "Banana production should increase in the second quarter of 2022, benefiting mainly from the maturation of plantations in 2021, and to a lesser extent, the resumption of activities in some plantations of the CDC that faced insecurity last year," the report said.

Courtesy BRM

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AD Pharma to build drug production unit in Cameroon

Cameroonian company AD Pharma, which is active in the large-scale distribution of pharmaceutical and paramedical products, plans to build a drug production unit in Douala. The unit will produce medicines, medical consumables, cosmetics, and dietary products.

In a recent statement, the company said it has already signed a deal with the Investment Promotion Agency (API) in that regard. The agreement grants AD Pharma tax and customs exemptions from 5 to 10 years, both in the launch and production phases, per the 2013 law (revised in 2017) on incentives for private investment in Cameroon.

The AD Pharma project (valued at CFA7 billion) fits perfectly into the import-substitution policy implemented by the Cameroonian government in 2021, to limit the country's dependence on imports and develop a robust local industrial fabric.

Although a local industry exists with investment estimated at CFA50 billion by the Association of Pharmaceutical Industries, the drug market in Cameroon remains dominated by imports. Imports of drugs peaked at CFA372 billion between 2015 and 2017, further widening the country's trade balance deficit, according to data from the Ministry of Commerce.

Courtesy BRM

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