Cameroon’s mobile financial services market is expanding rapidly, according to the 2024 Annual Observatory of the Electronic Communications Market. Services offered by MTN Mobile Money Corporation and Orange Money Cameroon have become a core driver of financial inclusion, giving millions access to a digital wallet even without a traditional bank account.

MTN and Orange record strong revenue and transaction growth

In 2024, MTN Mobile Money Corporation generated CFA70.2 billion in revenue, up from CFA55.1 billion in 2023, a rise of more than 27%. Orange Money Cameroon reported CFA65 billion over the same period. With no 2023 reference data available, this performance is compared with CFA44.5 billion recorded in 2022, reflecting the operator’s growing momentum in the mobile financial services market.

Transaction activity also increased sharply. Estimated transaction volumes—measured through SMS sent—grew from 1,237,402,354 in 2023 to 1,822,959,071 in 2024, a 47.3% jump. The trend highlights rising adoption of mobile channels for payments and money transfers.

The sector’s expansion is reinforced by an increase in active subscriptions. In 2024, MTN and Orange counted 11.429 million active mobile money subscriptions, adding 772,141 new users compared with 2023. Today, 38.84% of all subscribers across both networks hold an electronic mobile account, underscoring the growing role of mobile money in everyday life and its contribution to financial inclusion.

Sector revenue accelerates sharply

Overall, total mobile money revenue reached CFA135.84 billion in 2024, representing a 146.40% increase from the previous year. The sharp rise is mainly due to the inclusion of Orange Money Cameroon’s revenue in the 2024 data, offering a more complete picture of the segment’s economic weight.

The rapid expansion of mobile money, combined with ongoing network coverage improvements by MTN Cameroon and Orange Cameroon, is creating new opportunities for digital financial services and payment solutions. The expected arrival of new entrants such as Wave and Blue Money could intensify competition and further stimulate market growth.

These trends point to a sector that is heading toward restructuring and continued expansion, with major implications for competitiveness, regulation, and business models across the industry.

Source: Business in Cameroon

Renowned Central African infrastructure financier and port development expert Joël Daniel Monefong has secured one of the most ambitious contracts of his career by signing, through his company Innovendi Data Technologies and Communication Ltd, a far-reaching public-private partnership with the Port Authority of Douala (PAD) for the complete digital transformation of the Douala-Bonabéri port into Central Africa’s first fully operational Smart Port.

The agreement, signed on 17 November 2025, gives Innovendi the responsibility for the design, full financing, construction, operation, maintenance and future upgrading of a dedicated hybrid 4G/5G telecommunications infrastructure, coupled with a comprehensive suite of Smart Port digital services aimed at dramatically improving operational performance, slashing cargo and vessel dwell times, and restoring the port’s regional competitiveness.

According to the terms disclosed by the PAD, the entire project is 100 % financed by Innovendi and its financial partners, meaning the Cameroonian port authority will undertake this large-scale digital revolution at zero initial capital cost. The technological package includes a private hybrid 4G/5G network delivering ultra-high-speed, low-latency connectivity across the entire port zone; Internet of Things (IoT) platforms for real-time cargo tracking, predictive maintenance and equipment monitoring; edge-cloud infrastructure for on-site critical data processing; state-of-the-art cybersecurity systems; and intelligent digital interfaces to modernise access control, traffic management, video surveillance and overall cargo handling.

In exchange for these exclusive rights, Innovendi will pay the PAD an upfront entry fee, an annual fixed fee, a variable fee indexed to port traffic volumes, plus all applicable regulatory charges — thereby creating a new and recurring revenue stream for the public port authority.

Cyrus Ngo’o, Director-General of the PAD, declared that the convention is the culmination of several months of intense negotiations and announced that technical specifications will now be finalised urgently to allow work to begin in the coming weeks. He underlined that the new digital ecosystem will bring “considerable gains in operational fluidity, a sharp reduction in vessel and cargo waiting times, strengthened security and a drastic limitation of human error”.

For his part, Joël Monefong, CEO of Innovendi, described the project as “an extremely ambitious undertaking that will definitively position Douala-Bonabéri as the first truly accomplished Smart Port in Central Africa, with digitalisation acting as the primary growth and competitiveness driver”.

This landmark contract perfectly aligns with the PAD’s strategic objective of consolidating Douala’s historic role as the leading logistics hub of the Gulf of Guinea, at a time when the port is facing increasing competition from the more modern facilities at Kribi (Cameroon), Lomé (Togo), Tema (Ghana), Pointe-Noire (Congo) and Lagos (Nigeria). The expected efficiency gains are set to attract new shipping lines, improve service quality for shippers and freight forwarders, and enable the port to absorb the region’s fast-growing trade volumes.

Beyond its operational impact, the project is also presented as carrying major socioeconomic benefits: direct and indirect job creation, advanced training programmes for young Cameroonian engineers and technicians, systematic involvement of local SMEs in implementation, and a structured transfer of cutting-edge technological expertise throughout the duration of the partnership.

Although Innovendi Data Technologies and Communication Ltd remains a relatively young player with a still-limited public portfolio, the contract takes on an entirely different dimension when seen through the lens of its promoter. With this Douala Smart Port project, Joël Monefong — already a recognised heavyweight in African infrastructure finance who has personally structured multi-billion-dollar PPPs, advised presidents and port authorities across the continent (notably as Technical Advisor No.1 at Kribi and lead financial architect of the >USD 1 billion Banana deep-water port in DRC alongside DP World) — opens a new and highly strategic chapter, this time combining his financial engineering mastery with direct operational responsibility for one of the most emblematic digital transformation projects in sub-Saharan Africa today.

Culled from Business in Cameroon by Soter Tarh Agbaw-Ebai

The Cameroon Development Corporation (CDC) is set to receive fresh financial support just days after reaching an agreement to clear part of its wage arrears. The Minister of Economy, Planning and Regional Development has been authorized to sign a €7.1 million ($7.6 million) commercial loan with Standard Chartered Bank in London, equal to about CFA4.6 billion.

The funding will cover the supply and installation of processing plants for palm oil, margarine and rubber, sectors considered strategic for diversifying and modernizing the operations of the state-owned company.

Clearing part of wage debt

The loan follows a broader financial recovery effort that included settling part of the company’s salary arrears. On September 17, 2025, the government signed a deal with FedhEn Capital, Société Générale Capital Securities Central Africa (arranger), Société Générale Cameroun, CCA Bank and AFG Bank. The operation cleared CFA15.7 billion in back pay owed to nearly 20,000 workers, as part of a plan to address a total salary debt of CFA35.7 billion accumulated between 2018 and 2022.

Company weakened by Anglophone crisis

CDC, the largest agribusiness in Cameroon and the country’s second-largest employer after the state, has been heavily affected by the sociopolitical crisis in the Anglophone regions. Between 2019 and 2021, it posted losses of CFA38.7 billion and saw its workforce shrink from 22,000 to around 15,000, according to the Technical Commission for the Rehabilitation of Public Enterprises (CTR).

With financial support from Standard Chartered Bank, the government aims to strengthen CDC’s competitiveness and production capacity. The installation of new factories is expected to add value to its output, reduce reliance on imports, and support jobs in a region hit hard by the crisis. Between debt relief and industrial revival, the state-owned firm now appears to be moving toward stabilization.

Source: Business in Cameroon

Cameroon’s cocoa industry, the world’s fourth-largest, is facing a compounding crisis that combines disease, insecurity, and corporate pullback. The sector generates over CFA 359 billion (about USD 595 million) from 180,095 tons in the first half of 2024/25 and sustains nearly one million people, but output is under acute pressure. National production, commonly ranging from 250,000 to 290,000 tons, is expected to contract by at least 10% this season, with the South-West region, the supplier of nearly half the crop, being hit hardest.

The first blow is biological. Heavy rains since July 2025, topping 2,200 mm in the South-West, have triggered a surge in black pod disease (Phytophthora megakarya). Infection rates of 65–70% have been reported in key districts such as Muyuka and Kumba. Counterfeit fungicides undermine farmers’ efforts to contain the outbreak, as many are smuggled across the Nigerian border. The result is pod losses ranging from 30% to as high as 90% on some farms, eroding both quality and volume simultaneously.

Layered on top is insecurity. The Anglophone conflict has entrenched “ghost town” lockdowns in the South-West and North-West, enforced by separatist groups. On these days, all economic activity halts, and farmers risk ambush if they attempt to reach plantations. A recent one-month lockdown disrupted government field inspections and fungicide quality checks, worsening the spread of disease. Historically, these ghost towns have cut cocoa sales from the South-West by as much as 40%, and 2025 has seen their persistence alongside sporadic clashes and extortion on rural roads.

Corporate retrenchment adds another dimension. Telcar Cocoa Ltd., which once handled up to 40% of the nation’s beans, suspended processing operations in mid-September, citing a “bean quality crisis.” The move follows Telcar’s earlier split with Cargill and reflects both the deterioration of crop quality and the logistical disruptions caused by ghost towns. By withdrawing, Telcar reduces domestic processing capacity, pushes more beans onto spot markets, and signals growing uncertainty to investors. The suspension also deprives farmers and small grinders of a key buyer, deepening income losses.

The mechanics of the crisis show a classic supply shock in a commodity with inelastic short-term output. Farmers cannot quickly expand acreage or replace diseased trees. With fewer beans being moved to market, prices rise. At the same time, ghost towns and insecurity impose frictional costs: shipments are delayed, storage risks rise, and smuggling surges. For small grinders, the effect is severe — input costs can increase 20–30%, throughput is disrupted, and margins are compressed by as much as 70%. Many risk closure without relief.

Global markets are already feeling the ripples. Futures on ICE were trading at USD 7,364 per ton on September 17, down slightly on the day but vulnerable to upward spikes. Cameroon’s potential 25,000–40,000-ton shortfall alone cannot overturn global supply dynamics dominated by Côte d’Ivoire and Ghana, yet in a context of regional weather shocks and political volatility, it magnifies uncertainty. Price volatility in Q3 has already risen above 7%, and Telcar’s exit will feed risk premiums in forward contracts.

Policy and commercial responses are lagging. Government inspection programs remain hampered by insecurity, while fungicide certification and distribution channels are too porous to prevent the penetration of counterfeit products. Extension services are restricted, and there is no adequate insurance or risk-sharing mechanism for grinders. Without rapid action, production in 2025/26 could contract by 15–25%, resulting in sustained high local prices (4,000–6,000 CFA/kg) and hollowing out processing activity and rural incomes.

The crisis is a test of resilience for Cameroon’s cocoa economy. Farmers require secure corridors to access plantations and reliable fungicide supply chains. Small grinders need cooperative mechanisms and hedging tools to manage volatility. For investors, the message is twofold: the near-term opportunity lies in long positions on West African cocoa, but the long-term risk is systemic — without integrated solutions that tackle both disease and insecurity, Cameroon’s comparative advantage in premium-quality cocoa could erode irreversibly.

Source: Business in Cameroon

Cameroon Airlines Corporation (Camair-Co) has taken delivery of a Boeing 737-800, marking the launch of a five-year expansion plan aimed at transforming the national carrier into a competitive regional airline. The aircraft, leased from Czech operator Smartwings, is the first step in Camair-Co’s 2024–2028 strategy to rebuild and expand its fleet.

The project envisions an initial fleet of 14 aircraft—11 passenger and three cargo planes—before reaching 18 jets by the fifth year, comprising 16 passenger and two cargo planes. Financing is supported by a CFA47 billion ($76.8 million) direct loan from the Development Bank of Central African States (BDEAC).

Fleet Modernization Amid Challenges

Camair-Co currently operates six owned and two leased aircraft, with repeated breakdowns of aging planes causing operational disruptions. The wet lease of the Boeing 737-800 provides immediate reliability while management works to phase in additional aircraft.

“The new aircraft allows us to restore confidence in our existing routes while we prepare for broader expansion, this is about building the foundation for sustainable operations.” said General Manager Jean Christophe Ella Nguema.

The recovery strategy focuses on three key objectives: enhancing competitiveness, improving operational efficiency, and restoring profitability. Executives view short-term leasing as a necessary bridge to long-term modernization, although the higher costs of wet leasing weigh on already fragile finances.

Camair-Co’s network today serves six domestic destinations—Douala, Yaounde, Bafoussam, Garoua, Maroua, and Ngaoundéré—alongside three regional routes to Libreville, Bangui, and N’Djamena. The expansion plan includes resuming suspended regional services and opening new ones, with Douala and Yaounde targeted as transit hubs for Central Africa.

Management hopes to capture some of the regional traffic that currently transits through Addis Ababa, Nairobi, or Lomé. However, competition is intense, as Ethiopian Airlines, Kenya Airways, and ASKY already dominate the skies of Central and West Africa.

Financial Pressures

The expansion highlights both ambition and risk. Camair-Co carries a total debt of CFA 124 billion ($204 million), making it Cameroon’s second most indebted state-owned company. Since its creation in 2006 and operational launch in 2011, the airline has never posted a profit and has relied on repeated government bailouts.

Analysts note that successful African turnarounds—such as Ethiopian Airlines or Air Côte d’Ivoire—required heavy upfront investment. But they caution that Camair-Co must address fundamental operational weaknesses alongside fleet growth to avoid repeating past failures.

Government project documents indicate that the expansion could generate 3,000–4,500 indirect jobs over five years, with benefits extending across aviation services, logistics, and hospitality. New frequencies and additional domestic routes are also expected to improve integration between northern and southern Cameroon, strengthening national cohesion.

The initiative could create opportunities for local aviation professionals, though Camair-Co faces labor tensions. Reports of disputes between pilots and management over pay and working conditions underscore the importance of maintaining workforce stability as the fleet expands.

The wet-lease arrangement offers an immediate boost, but it also increases operating costs. With Camair-Co’s owned aircraft prone to breakdowns, sustainability hinges on the airline’s ability to modernize its core fleet while integrating leased capacity.

“The arrival of the new jet is encouraging, but execution will be decisive,” said one regional aviation consultant. “Expanding routes without fixing fundamentals risks repeating old mistakes.”

Looking Ahead

Management emphasizes that the 737-800’s arrival is only the first milestone in a staged program. Over the next five years, the fleet is expected to grow from 14 to 18 aircraft, encompassing both passenger and cargo segments. Long-haul ambitions remain on the horizon, with Paris identified as a potential route once regional expansion consolidates.

“This isn’t just about adding aircraft, it’s about building an airline Cameroon can be proud of. The real challenge lies in execution.” said Nguema.

As the aircraft begins commercial service, Camair-Co faces a dual test: delivering growth while addressing structural weaknesses. Success would strengthen Cameroon’s regional connectivity and help Douala and Yaounde emerge as aviation hubs. Failure could add to the financial burden of one of Central Africa’s most fragile carriers.

Source: Business in Cameroon