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Laboratoire de la finance africaine

Cameroon (CEMAC)

Aperçu 2023
Annual current GDP growth (%) : 4.672
GDP (USD billions) : 48.29
Population (Thousands) : 27.912 
Sociétés Cotées à Douala Stock Exchange
Economic performance and outlook

In 2020, the Cameroonian economy was strongly impacted by the combined effects of the COVID–19 pandemic, the persistence of security and political crises and the decline in world oil prices. Among Central African countries, Cameroon was the hardest hit by the COVID– 19 pandemic in 2020, from a health and economic perspective. Real GDP contracted by 2.4% in 2020, compared with growth of 3.7% in 2019. This 6.1 percentage point decline in economic activity is largely explained by the fall in world oil prices. The contraction in global demand inherent in the COVID–19 pandemic and the effects of the barrier measures taken in managing the pandemic at the national level have affected the nonoil sector. The activities of the services, manufacturing, and agro-industrial export sectors, particularly trade, have thus experienced a sharp slowdown. Growth has also been affected by the persistence of the security and sociopolitical crises that the country is experiencing and the underperformance of public enterprises, particularly the National Refining Company (SONARA). Inflation has been kept below the Central Africa Economic and Monetary Community 3% convergence threshold (2.9% in 2020, compared with 2.5% in 2019). The Central Bank of Central African States took various measures in 2020 to support the economies of its member states. Thus, the interest rate (TIAO), the main instrument of monetary regulation within this monetary cooperation zone, was lowered by 25 basis points, from 3.50% to 3.25%, in March 2020. New foreign exchange regulations that took effect on 1 March 2019, made it possible to increase the country’s foreign exchange reserves, which at the end of 2020 could cover 7.5 of imports, compared with 6.3 months at the end of 2019. The budget deficit increased from 3.6% of GDP in 2019 to 4.9% GDP in 2020, while the current account deficit rose to 5.2% of GDP in 2020, compared with 3.1% in 2019, mainly because oil exports and remittances declined. (Download detailed Analysis Source : Report African Economic Outlook 2021 ; AfDB)

Financial markets

In the end of 2017, the banking sector of the Central African Economic and Monetary Community (CEMAC) (Cameroon member of the CEMAC) represented a total asset of $ 14 billion.

Credit distributed to private sector in 2017 represents $ 13.4 billion.

Douala Stock Exchange has 3 listed companies, representing, in the end of 2017, a market capitalization of $ 0.79 billion.

Amounts invested by private equity represents $ 11 million.