Africa

19, September 2025

Cameroon cocoa challenges deepens amid disease and insecurity ⁰

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

16, September 2025

Struggling Camair-Co adds Boeing 737-800 in a $77m fleet renewal drive ⁰

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

3, September 2025

Mutresor to open CFA18bn five-star Concord Hotel in Yaoundé ⁰

On the hillside of Olezoa in Yaoundé, the Concord International Hotel is taking shape, reshaping the skyline near Avenue Charles Atangana. Backed by the Mutual Fund of Treasury Staff (Mutresor), the five-star complex aims to redefine luxury hospitality in Cameroon’s capital.

The CFA18 billion ($29.6 million) investment was financed mainly through Mutresor’s own funds, supplemented by a bank loan, according to the Ministry of Finance. Construction is nearing completion, with every detail designed to meet international standards.

The facility will offer 119 rooms and suites, including 72 executive and 16 standard rooms, plus two presidential suites and two accessible rooms. Amenities include two restaurants, a snack bar, a panoramic terrace, a spa, an indoor pool, a night club, a casino, conference floors, and parking. Local artisans will supply art and décor to give the hotel a cultural touch.

A diversification strategy

Founded over a decade ago within the Ministry of Finance’s Treasury Directorate, Mutresor counts around 4,000 members including public servants, retirees, and contract staff. Already active in microfinance through Cremincam and owner of a commercial property in Yaoundé, the mutual is expanding its portfolio with the Concord project.

“The profitability of the Concord should increase our lending capacity and help finance health and retirement insurance products,” a Mutresor official said.

Competitive luxury market

Yaoundé’s high-end hospitality market is becoming increasingly competitive. Alongside established hotels like Hilton and Mont Fébé, new entrants are on the way: the 220-unit Radisson Serviced Apartment set for 2026, the 30-story Hôtel du Lac backed by Belgian firm IIDG, and a future Méridien. Investments in these projects range from CFA50 billion to CFA90 billion.

“Luxury hospitality is highly capital-intensive but also high risk,” noted a Douala-based consultant. “It takes more than a beautiful building. Clear marketing, agile management, and internationally trained staff are essential.”

To address these challenges, Mutresor hired Bekolo & Partners to conduct market studies, design the business plan, and lead staff recruitment.

The Concord illustrates a broader shift among public service mutuals in Cameroon. Once limited to member contributions and solidarity, these organizations are emerging as investment vehicles. The National Mutual of Tax Staff (Mundi) has also expanded into commercial real estate and hospitality.

This evolution positions mutuals as economic actors capable of creating wealth and strengthening their role in national development.

High stakes ahead

Venturing into luxury hospitality carries financial and operational risks for Mutresor, whose core mission remains mutual solidarity. Success will depend on governance, strong financial planning, and professional hotel management.

If the Concord succeeds, it could set a precedent for other African mutuals, showing that solidarity-based organizations can drive major investments while continuing to serve their members.

Source: Sbbc

1, September 2025

Douala Port is now the most congested on the West African Coast ⁰

The Douala port is now the most congested port on the West African coast, according to shipping-intelligence platform Gocomet. Vessel delays at the facility reach as long as nine days—two days longer than at Conakry in Guinea, Abidjan in Côte d’Ivoire, or Lekki in Nigeria, where waiting times stand at about seven days.

The bottleneck comes at a port that handles between 75% and 85% of Cameroon’s trade, as well as imports for landlocked Chad and the Central African Republic. Authorities have offered no official explanation. However, data reviewed by the Ecofin Agency suggest that seasonal and logistical factors, starting with vessel navigation, are at play.

Ships calling at Douala must sail up the Wouri River, a route that depends on dredging operations and favourable tides. Heavy rains in Douala may also have complicated conditions, further slowing vessel movements in and out of the channel.

Another factor could be a seasonal surge in traffic. August marks the start of cocoa exports, and demand from Chad and the Central African Republic is also expected to rise. In such cases, the structural weaknesses of the port become more visible. The Port Authority of Douala has announced new investments, but these upgrades have yet to alleviate pressure on facilities that are already stretched to their limits.

Business news outlet Investir au Cameroun noted at the end of 2023 that the port authority planned to invest CFA 12 billion ($21.4 billion at the period’s exchange rate) in 2023 in acquiring eight-yard cranes. However, years of reliance on outdated equipment had created inefficiencies that could still be affecting operations in 2025. Operational inefficiency also extends to management and port users.

Douala’s southern neighbour, the Kribi port, offers a potential alternative with delays averaging just two days and a more effective administration. However, routing cargo through Kribi presents its own challenges, including weaker hinterland connections and higher logistics costs. Among 15 West African ports surveyed, a few post far lower delays, often less than a day. That includes Pointe-Noire in the Republic of Congo, Tema in Ghana, and Onne in Nigeria.

Port congestion across West Africa reflects a complex mix of aging infrastructure, surging cargo volumes, bureaucratic inefficiencies, corruption, tidal and environmental constraints, and global supply-chain pressures. These forces combine to create bottlenecks that prolong vessel turnaround and cargo handling.

Modernization programs and new port developments bring some hope, yet chronic underinvestment and governance shortcomings continue to hold back progress. Easing congestion will require coordinated investments in complex infrastructure, digital systems, and regional logistics to meet West Africa’s rising trade demands.

Source: ecofinagency

26, August 2025

Southern Cameroons minerals: Elias Pungong, Colin Mukete at daggers-drawn positions ⁰

The Nkout (2.7 billion tons) and Ntem (98 million tons) iron ore deposits in southern Cameroon are at the heart of a legal and financial battle. At the center of the dispute is Cameroon Mining Exploration (Caminex), the local subsidiary of the bankrupt British group International Mining and Infrastructure Corporation (IMIC).

The control of Caminex is being contested by two parties: Libyan Foreign Bank (LFB), a subsidiary of the Libyan central bank and IMIC’s main creditor, represented in Cameroon by Elias Pungong; and Caisse Capital Ltd, an investment firm owned by Cameroonian billionaire Colin Mukete, who was also a financier of the British group.

At the heart of the dispute are the legality of LFB’s claim to IMIC’s shares in Caminex and the true amount of financing invested in the exploration of the Nkout and Ntem deposits.

According to Elias Pungong, LFB’s takeover of Caminex was a result of a London court decision. He asserts that after IMIC went bankrupt and could no longer repay its debts, LFB, as the main creditor, went to court in London. The court ruled in favor of LFB buying all of IMIC’s shares, making the Libyan bank the majority shareholder of Caminex.

This version is disputed by other creditors, including Caisse Capital. Its lawyer, Etah Akoh, claims that “the London court only went so far as to pronounce the liquidation of IMIC and appoint a liquidator.” He insists that by law, only a Cameroonian court could rule on the shares of a local company like Caminex. “In claiming otherwise, Mr. Pungong has lied, and we plan to sue him for false testimony,” the Caisse Capital lawyer said.

According to Etah Akoh, the London court could not have awarded the Caminex shares to LFB in any case, since the Libyan bank was only one of IMIC’s creditors. He stated that LFB was fully aware of Caisse Capital, which had injected $5 million into the project. “LFB made contact with us, and discussions took place,” he said. “How, under these conditions, can the bank now want to seize IMIC’s assets in Caminex for itself?“

In response, Elias Pungong said LFB’s $200 million claim against IMIC justified its status as a “senior debt,” or priority claim. “False,” Etah Akoh retorted. “From a legal standpoint, it’s not the amount that matters, but the structure and guarantees. A bank that lends $10 million with a mortgage takes precedence over one that lends $100 billion with no security.” In a Nov. 22, 2024, letter to the Minister of Mines, Industry, and Technological Development, Etah Akoh’s firm, Etah-Nan & Co, informed the mining authority that “LFB’s intrusion in Caminex’s affairs has no legal basis.”

Conflicting Claims Muddle Battle for Iron Ore Assets

The dispute also extends to investment figures. LFB claims that IMIC invested more than $400 million in exploration activities at Nkout and Ntem, financed by loans taken out by IMIC to fund Caminex’s activities. Sources say LFB claims the bulk of these investments in documents submitted to the Cameroonian government. LFB also acknowledges a $5 million debt owed to Caisse Capital by IMIC.

Contacted by Business in Cameroon, Elias Pungong claimed that LFB granted nearly $200 million in loans to IMIC and its subsidiary Affero Mining. He also stated that IMIC raised another $200 million on the London Stock Exchange to finance its activities in Cameroon, bringing the total invested in the country to over $400 million. He said the funds were used to acquire machinery, cover headquarters costs, and conduct exploration studies on the two mining sites.

However, these figures diverge from those advanced by Gordon Partnership, IMIC’s legal counsel. In a Feb. 21, 2018, letter to LFB, the London-based firm detailed its client’s debt situation. “In summary, IMIC owes LFB approximately $81 million and other creditors $70 million. Its subsidiary Affero owes LFB nearly $94 million,” the letter read. In other words, IMIC’s total debt would amount to $245 million, of which $175 million is owed to LFB. The law firm makes no mention of the $200 million IMIC allegedly raised on the stock exchange.

The difference of $155 million between the claimed investment and the debt figures fuels suspicions of fraud.

Caisse Capital alleges that the $400 million in investments put forward by LFB is fraudulent. According to its lawyer, no tangible proof has ever been provided for the financing LFB claims it provided through IMIC to Caminex. “A mining project that receives 224 billion CFA francs would inevitably leave visible traces. Yet at the time of IMIC’s bankruptcy, Caminex was buried under more than 2 billion CFA francs in tax debts, had 160 million in unpaid wages, had lost its offices, and was trying to sell a few vehicles to pay its employees. Its workforce was limited to a few workers abandoned in the bush due to lack of pay. Is that the face of a company that would have absorbed nearly $400 million? Certainly not,” Etah Akoh said.

Caisse Capital shares the position that only a small portion of the $175 million borrowed by IMIC and Affero Mining was actually used for the project. “Based on my experience as a lawyer in this sector, the monthly costs of such a company do not exceed 30 to 50 million CFA francs. Over three years, even including laboratory analyses in London or Canada, expenses could not have exceeded 15 billion CFA francs per permit. How then can you explain the 224 billion CFA francs announced by LFB? These figures are implausible.”

Despite the disagreements, LFB is claiming a central role in the management of the Cameroonian permits and is attempting to convince the government in Yaoundé to grant it a mining convention.

Caisse Capital argues that this is merely a maneuver to erase its own status as a creditor. Colin Mukete’s firm maintains that its $5 million loan to IMIC should entitle it to a stake in any future convention. It is firmly opposed to an agreement being signed for the sole benefit of Caminex and LFB, which it accuses of artificially inflating its contributions. “LFB is not a mining company. Its strategy is to deceive the Cameroonian government and then find a buyer who will acquire Caminex to recoup the $400 million it claims to have invested. This investment is fictitious,” Etah Akoh charged.

A Test for Cameroon’s Business Climate

The Ministry of Mines, however, seems favorable to resuming discussions with Caminex and LFB. This prospect alarms Caisse Capital, whose lawyer has threatened to go to Cameroonian and international courts to have any convention signed under these conditions annulled. “LFB and Mr. Pungong can try to obtain a mining convention with government support. I cannot prevent them from doing that. But I can, and I will, initiate legal proceedings to annul any convention signed on such a false basis. And once the proceedings begin, no serious lender will take the risk of financing this project,” said Caisse Capital through its legal counsel.

Beyond this standoff between creditors, the future of two of Cameroon’s most significant iron ore deposits remains uncertain. The government, having been solicited by LFB for a mining convention, will have to arbitrate a case that involves not only millions of dollars but also the credibility of the country’s business climate.

Source: Business in Cameroon

18, August 2025

Sonara adopts 2-year plan to restart Limbe refinery by 2027 ⁰

Cameroon’s National Refining Company (Sonara) approved on August 13 the Acceleration Plan for Restructuring and Rehabilitation Measures for Refining Restart within 24 months (Parras 24). The initiative agreed upon during a Board Meeting aims to resume production by 2027 with government support.

“Parras 24 is designed to relaunch Sonara’s core functions and ensure the continuity of petroleum product supply,” the company’s official statement said. The plan calls for recapitalization and new partnerships to fund the rehabilitation and quick restart of production. Sonara has not yet clarified whether recapitalization will involve debt buyback or fresh capital injection. In June, a joint delegation from UBAF, ING, and Mauritius Commercial Bank had proposed potential financing for the project.

Technically, Parras 24 aims to restore facilities to their state before the May 2019 fire that severely damaged part of the refinery. At the same time, Sonara will implement a workforce management program to strengthen staff skills and prepare for operations to restart.

The company continues to struggle with high debt. It currently owes CFA261 billion to banks, restructured over 10 years since 2021 at an interest rate of 5.5%. It also owes CFA185 billion to Vitol, CFA8.5 billion to PSTV, CFA14 billion to Trafigura, and CFA20 billion to Mercuria Energy. Repayment of these debts has been ongoing since 2022 through a state mechanism that collects CFA47.8 on each liter of fuel sold at the pump.

While Parras 24 is underway, Sonara has assured partners and customers of steady supply. “The supply of refined products on the national and international market will continue in both quantity and quality until the full restart of the refinery,” the company said.

This ambitious plan, combining strategic financing, technical rehabilitation, and workforce development, marks a decisive step for Cameroon’s oil sector and the stability of its domestic market.

Source: Business in Cameroon

6, August 2025

Biya seeks alternative treasury funding amid surging T-Bill Costs ⁰

As of end-June 2025, Cameroon’s domestic public debt, excluding arrears, which are invoices pending payment for around three months, and floating debt, stood at CFA3,814.4 billion, representing 11.6% of GDP. The figure was disclosed by the Autonomous Sinking Fund (CAA) in its latest update on Cameroon’s public debt situation.

According to the CAA, 55% of this debt is made up of public securities issued by the government on the BEAC market. This market, operated by the central bank of the CEMAC region (Cameroon, Congo, Gabon, Equatorial Guinea, Chad, and the Central African Republic), has become one of the Cameroonian state’s main financing sources.

On this market, the Treasury issues two main types of instruments: Treasury bonds (OTA), with maturities between two and ten years, typically used to finance infrastructure projects; and Treasury bills (BTA), with maturities under one year, mostly used to manage temporary cash flow needs.

However, as revealed in the CAA’s latest report, “with regard to Treasury bills in particular, which have increased by 11.6% year-on-year as of end-June 2025, discussions are underway to mitigate the underlying refinancing risk, due to mounting pressure on the domestic market’s capacity.”

In other words, faced with rising BTA issuance costs on the BEAC market in recent years—and the increasing difficulty for CEMAC states to raise targeted amounts because of competition and prudential limits on banks serving as primary dealers (SVTs)—the Cameroonian government is actively considering other financing options.

“It is within this context that the Head of State signed a decree on May 19, 2025, authorizing the Minister of Finance to raise loans on international financial markets, up to a maximum of CFA200 billion, for the purpose of financing 2025 Treasury operations,” the CAA noted.

At the same time, the government is working to secure the full mobilization of the funds it seeks on the domestic market, despite saturation among local intermediaries—mainly the SVT banks. To that end, it has taken steps to attract new investors to the subregional public securities market.

In July 2025, Cameroon raised CFA200 billion on the BEAC market through a bond issuance supported by a swap arrangement that allowed Afreximbank to convert foreign currency into local currency. This made it possible for the bank to subscribe to the public offering.

Thanks to this deal with the Cameroonian government, the African Export-Import Bank (Afreximbank) became the first foreign investor to participate in the BEAC public securities market, which has been operational for nearly 14 years.

The transaction also comes ahead of a leadership change at Afreximbank. Starting in September 2025, Cameroonian legal expert George Elombi is set to take over as head of the pan-African institution.

Source: Business in Cameroon

5, August 2025

Cameroon’s debt to China now 2.5 times that owed to France ⁰

As of June 30, 2025, China remains Cameroon’s largest bilateral creditor, according to the Caisse autonome d’amortissement (CAA), the country’s public debt agency. China accounts for 65% of Cameroon’s bilateral debt, representing 20.2% of total external debt, officially estimated at CFA2,648.3 billion.

This puts China’s share at 2.5 times that of France, a historic partner, which holds 25.6% of Cameroon’s bilateral debt, or 8% of total external debt. The CAA said China continues to be “a preferred partner in the infrastructure and energy sectors.”

China has become Cameroon’s main investor over the past decade, driven by large infrastructure projects launched in the 2010s. These include bridges, roads, and dams, mostly financed by Eximbank China. The loans are tied to Chinese firms, meaning each agreement designates a Chinese contractor to carry out the work.

Chinese companies remain active in Cameroon’s infrastructure and energy sectors. Major players include CCCC, CWE, CHEC, and Sinohydro in construction, and Huawei and ZTE in telecommunications.

While these loans have funded key infrastructure, they come with high repayment obligations. Chinese loans are typically non-concessional, adding pressure to debt servicing. In the first quarter of 2024, Cameroon repaid CFA148.2 billion to Eximbank China—CFA34.7 billion in interest and CFA113.5 billion in principal. These were the country’s largest repayments to any creditor group during that period.

The size of China’s loan portfolio has created repayment difficulties. In July 2019, Cameroon secured a rescheduling agreement with Eximbank to avoid default. The deal covered 22 projects valued at about CFA150 billion and allowed 70% of the principal due from July 2019 to March 2022 to be rescheduled.

Source: Business in Cameroon

30, July 2025

Cameroon’s natural wealth worth $222 billion ⁰

Cameroon’s natural capital is valued at $222.3 billion, or about 130,000 billion CFA francs, according to a recent African Development Bank (AfDB) report focusing on the country. This represents 39% of Cameroon’s national wealth and a 4.5% rise from the $212 billion estimated previously.

The World Bank’s 2025 report on Cameroon’s economic situation previously stated that national wealth consists of human, physical, produced, and natural capital. It assessed Cameroon’s natural wealth at 331,800 billion CFA francs.

The AfDB notes Cameroon’s natural capital includes renewable resources such as biodiversity-rich forests that are crucial for climate regulation and carbon sequestration. The country also has an estimated 12,000 megawatts of unexploited hydroelectric potential and significant solar potential, with an average insolation of 5.8 kWh per square meter per day, which favors clean energy production. Non-renewable natural capital comprises oil, natural gas, and mineral resources.

Despite this “significant potential, which constitutes a strategic lever for economic transformation and the achievement of sustainable development goals” in Cameroon, the AfDB observed that “the contribution of natural capital to the Cameroonian economy remains moderate, as its potential is underexploited.” The financial institution cited a decline in natural capital’s contribution to gross domestic product as proof. Natural capital rents fell from 6.5% of GDP in 2018 to 4.7% in 2020, reflecting a decline in the effective economic valuation of these resources, the AfDB reported.

The AfDB noted that the 4.5% increase in natural capital over 25 years conceals a marked relative degradation. Natural capital per capita sharply decreased by 47.9%, falling from $16,105 in 1995 to $8,392 in 2020, the AfDB reported. This decline primarily stems from increasing demographic pressure and unsustainable resource exploitation.

Source: Business in Cameroon

21, July 2025

Foundation stone for fake Kribi refinery ⁰

Cameroon has laid the foundation stone for the construction of a new oil refinery and petroleum reserve depot in the southern part of the country, according to the state-run National Hydrocarbons Corporation (SNH).

The refinery, which is constructed on a 250-hectare site within the Kribi industrial port zone, will have a processing capacity of 30,000 barrels per day, said Nathalie Moudiki, who represented the executive general manager of SNH at the occasion on Thursday.

She added that the fuel storage terminal will have an initial capacity ranging from 250,000 to 300,000 cubic meters.

The new refinery is designed to process Cameroon’s crude oil, aiming to reduce fuel imports by 30 percent, according to SNH.

The construction works are expected to take 18 months. It will be Cameroon’s second oil refinery upon completion. The country’s lone refinery in the seaside resort town of Limbe has been shut down since 2019 following a devastating fire. Cameroon has since relied on imported refined fuel.

Source: Xinhuanet