26, January 2023
The number of Internet users in Cameroon grew by 10.6% in 2022 0
The number of Internet users in Cameroon increased by 967,000 (+10.6% YoY) in 2022, the GSMA Intelligence recently reported. The Internet penetration rate in the country thus reached 36.5%, compared to 22% in 2021, the organization said.
This is good news for operators of the e-commerce sector where Cameroon is still lagging behind a neighboring country like Gabon. According to GSMA, Gabon was the leader in e-commerce in the ECCAS zone (Angola, Burundi, Cameroon, Central African Republic, Chad, Congo, Democratic Republic of Congo, Equatorial Guinea, Gabon, Rwanda, Sao Tome and Principe) in FY2019.
The top 5 are Gabon with 38.3% of the population prepared for online shopping, Cameroon (32%), Rwanda (30.9%); Angola (30.4%); and Congo (14%).
Source: Business in Cameroon
31, January 2023
IMF and Cameroon reach $74.6 mln staff-level agreement 0
The International Monetary Fund and Cameroon have reached a staff-level agreement that will give the country access to around $74.6 million once the Board formally completes the review, the IMF said in a statement on Monday.
The announcement followed an IMF mission to Cameroon earlier this month and virtual meetings to discuss progress made on reforms and policy priorities in the context of the third review of the program, supported by Extended Credit Facility and Extended Fund Facility arrangements.
“The mission has reached staff-level agreement with the Cameroonian authorities on the economic and financial policies that could support the approval of the third review of the program,” IMF mission chief for Cameroon Cemile Sancak said in the statement.
“Conclusion of the third review by the IMF Executive Board scheduled in early March 2023 would enable the disbursement of SDR 55.2 million (about US$74.6 million),” she added.
The central African country’s economy grew at an estimated 3.4% in 2022, up from 3.6% in 2021. It is projected to reach 4.3% growth this year, the statement said.
Headline inflation is expected to reach 6% at the end of 2022, mainly driven by food prices due to higher import costs and domestic supply pressures.
Source: Reuters