Business

12, June 2025

Cameroon ranks third in global Kola Nut production ⁰

Cameroon’s kola nut production has hovered around 48,500 tons annually over the past five years, accounting for 15.4% of global output. This places the Central African Economic and Monetary Community (CEMAC) economic powerhouse as the world’s third-largest kola nut producer, according to Tridge, an agricultural market intelligence and food product trade platform.

Cameroon trails Nigeria and Côte d’Ivoire, the top two international suppliers of the product. Tridge data indicates that Nigeria, the West African giant, produced 174,100 tonnes in 2022, representing 55.2% of global production. Côte d’Ivoire’s output in 2022 reached 58,640 tonnes, or 18.6% of the world total.

The global top five kola nut producers are completed by two other African nations. Ghana ranks fourth, with a 7.8% market share and 24,643 tonnes produced in 2022. Sierra Leone follows, with 8,450 tonnes during the review period, accounting for 2.7% of the global kola nut market.

Analysts predict that these five market leaders will see increased returns from kola nut cultivation in the coming years due to rising demand. A study published in April 2025 by Cognitive Market Research, cited by Ecofin Agency, estimates the kola nut market to be worth $119 million (approximately 65 billion CFA francs) in 2025. The study projects the market to grow by an average of 3.3% annually through 2033.

This anticipated surge in the global kola nut market is fueled by the diversification of its uses. While traditionally consumed in its raw form across many African countries, market analysts note a growing demand for kola nut in the agri-food industry, cosmetics, and traditional medicine.

Kola nut exports are not explicitly listed in Cameroon’s 2022 and 2023 foreign trade reports, published by the National Institute of Statistics (INS). However, this does not necessarily mean the country has no exports of the product. It is plausible that, similar to other agricultural goods like cotton, cereals, and even cocoa, Cameroonian kola nuts are exported through informal channels to Nigeria, the world’s leading producer. Cameroon shares a long and porous border of approximately 1,500 km with Nigeria.

Despite probable informal exports, as well as local consumption and still-limited artisanal processing, which are the primary uses of kola nut in Cameroon, the forecasted growth in this product presents a significant opportunity for both industry stakeholders and public authorities to better position kola nut on the national and international economic stage.

Source: Business in Cameroon

10, June 2025

Global Economy Set for Weakest Run Since 2008 Outside of Recessions ⁰

Heightened trade tensions and policy uncertainty are expected to drive global growth down this year to its slowest pace since 2008 outside of outright global recessions, according to the World Bank’s latest Global Economic Prospects report. The turmoil has resulted in growth forecasts being cut in nearly 70% of all economies—across all regions and income groups.

Global growth is projected to slow to 2.3 percent in 2025, nearly half a percentage point lower than the rate that had been expected at the start of the year. A global recession is not expected. Nevertheless, if forecasts for the next two years materialize, average global growth in the first seven years of the 2020s will be the slowest of any decade since the 1960s.

“Outside of Asia, the developing world is becoming a development-free zone. said Indermit Gill, the World Bank Group’s Chief Economist and Senior Vice President for Development Economics. “It has been advertising itself for more than a decade. Growth in developing economies has ratcheted down for three decades—from 6 percent annually in the 2000s to 5 percent in the 2010s—to less than 4 percent in the 2020s. That tracks the trajectory of growth in global trade, which has fallen from an average of 5 percent in the 2000s to about 4.5 percent in the 2010s—to less than 3 percent in the 2020s. Investment growth has also slowed, but debt has climbed to record levels.”

Growth is expected to slow in nearly 60 percent of all developing economies this year, averaging 3.8 percent in 2025 before edging up to an average of 3.9 percent over 2026 and 2027. That is more than a percentage point lower than the average of the 2010s. Low-income countries are expected to grow 5.3 percent this year—a downgrade of 0.4 percentage point from the forecast at the start of 2025. Tariff increases and tight labor markets are also exerting upward pressure on global inflation, which, at a projected average of 2.9 percent in 2025, remains above pre-pandemic levels.

Slowing growth will impede developing economies in their efforts to spur job creation, reduce extreme poverty, and close per capita income gaps with advanced economies. Per capita income growth in developing economies is projected to be 2.9 percent in 2025—1.1 percentage points below the average between 2000 and 2019. Assuming developing economies other than China are able to sustain an overall GDP growth of 4 percent—the rate forecast for 2027—it would take them about two decades to return to their pre-pandemic trajectory with respect to economic output.

Global growth could rebound faster than expected if major economies are able to mitigate trade tensions—which would reduce overall policy uncertainty and financial volatility. The analysis finds that if today’s trade disputes were resolved with agreements that halve tariffs relative to their levels in late May, global growth would be 0.2 percentage point stronger on average over the course of 2025 and 2026.

“Emerging-market and developing economies reaped the rewards of trade integration but now find themselves on the frontlines of a global trade conflict,” said M. Ayhan Kose, the World Bank’s Deputy Chief Economist and Director of the Prospects Group. “The smartest way to respond is to redouble efforts on integration with new partners, advance pro-growth reforms, and shore up fiscal resilience to weather the storm. With trade barriers rising and uncertainty mounting, renewed global dialogue and cooperation can chart a more stable and prosperous path forward.”

The report argues that in the face of rising trade barriers, developing economies should seek to liberalize more broadly by pursuing strategic trade and investment partnerships with other economies and diversifying trade—including through regional agreements. Given limited government resources and rising development needs, policymakers should focus on mobilizing domestic revenues, prioritizing fiscal spending for the most vulnerable households, and strengthening fiscal frameworks.

Finally, to accelerate economic growth, countries will need to improve business climates and promote productive employment by equipping workers with the necessary skills and creating the conditions for labor markets to efficiently match workers and firms. Global collaboration will be crucial in supporting the most vulnerable developing economies, including through multilateral interventions, concessional financing, and, for countries embroiled in active conflicts, emergency relief and support.

Source: World Bank

10, June 2025

Cameroon welcomes new Cement brand Cimaco ⁰

The Cameroonian cement market is set to welcome a new brand, Cimaco, starting in June 2025. This news was announced in an advertisement by Chinese-owned Sinafcam Sarl, which produces the cement in Edéa, located in Cameroon’s Littoral region. For its market debut, Sinafcam is introducing three product grades: 32.5, 42.5, and 52.5. The plant currently has an annual production capacity of one million tons.

Sinafcam’s entry brings the total number of cement producers in Cameroon to seven. This expansion comes a decade after Cimenteries du Cameroun (Cimencam), a subsidiary of Lafarge Holcim Maroc Afrique (LHMA), ended its 48-year monopoly. Cimencam, with a production capacity of 2.3 million tons, faced its first significant challenge with the arrival of Dangote Cement Cameroon in 2015, paving the way for several new entrants since then.

Current producers include Nigeria’s Dangote Cement (1.5 million tons); Moroccan firm Cimaf, which recently tripled its original output of 500,000 tons through a plant expansion; Medcem Cameroon (600,000 tons), a subsidiary of Turkey’s Eren Holding; Mira Company, which increased its capacity from 1 million to 1.5 million tons with a new production line commissioned in June 2022; and Portuguese group Cimpor (1 million tons).

Additionally, the Ministry of Industry anticipates two more Chinese cement plants in Edéa: Central Africa Cement (CAC) is projected to produce 1.5 million tons annually, while Yousheng Cement aims for 1.8 million tons.

Despite a decade-long surge in cement production facilities, the retail price for a 50kg bag of cement remains high, hovering between 5,100 and 5,300 CFA francs in major cities like Douala and Yaoundé. Both producers and government officials attribute these high prices to the elevated cost of importing clinker, the primary ingredient in cement production.

However, with prices showing little movement despite increased supply, Trade Minister Luc Magloire Mbarga Atangana has repeatedly voiced suspicions of “illegal price-fixing agreements” among producers.

Source: Business in Cameroon

9, June 2025

Cameroon Debt Recovery Agency backs director amid controversy ⁰

The Board of Directors of Société Camerounaise de Recouvrement des Créances (SRC), Cameroon’s public debt recovery agency, reconfirmed its confidence in General Manager Marie-Rose Messi during an extraordinary session held on June 4, 2025, in Yaoundé. This decision follows a wave of disinformation and criticism aimed at the SRC and its leadership, particularly after the forced seizure of assets belonging to prominent state debtors.

In a statement signed by Board Chairman Robert Bapooh Lipot, the board “strongly condemns” these “malicious” attacks, which it attributed to a misunderstanding of the SRC’s mandate. The board urged Messi and her staff to continue their mission of recovering public debts “with commitment and determination.”

Marie-Rose Messi, who has led the institution since 2013, faced significant controversy following a high-profile asset seizure at the residence of a wealthy businessman in Douala. The incident fueled speculation of political rivalries at the highest levels of the state. In response, Messi issued a statement clarifying that “no high-level instruction was given or relayed to return the seized assets,” emphasizing that the sale of those assets was intended to repay outstanding debts.

The board’s support, expressed during a meeting at the national headquarters of the Bank of Central African States (BEAC), marks a significant moment in defending the CEO, whose integrity and legitimacy had been questioned in some circles. An anonymous official from the Ministry of Finance welcomed the decision, noting that Messi retains “a free hand to go after cardboard billionaires.“

This reaffirmation of trust comes as the SRC intensifies its strategic efforts in managing public debt—a politically sensitive task—and as its leadership faces increasing media and political pressure.

Source: Business in Cameroon

5, June 2025

2,500 containers choke Douala Port; Biya’s men are threatening mass auctions ⁰

Approximately 2,500 twenty-foot equivalent units (TEUs) are currently in “prolonged stay” at the Port of Douala’s container terminal, according to internal sources at the Container Terminal Authority (RTC SA). This term refers to containers that were offloaded over 90 days ago but have yet to be cleared by their owners.

To address the issue, which is contributing to port congestion, Lin Dieudonné Onana Ndoh, the Director General of RTC, issued a memo on May 7, 2025. The memo urged owners of these containers to “carry out all necessary procedures for immediate removal.” Ndoh’s note emphasized that the Douala port container terminal “is not a container storage area, but solely a transit zone for containers,” adding that “the allowable stay in the container yard is eleven working days, in accordance with current port regulations.”

Under current regulations, importers offloading goods at Cameroon’s ports receive an 11-day grace period during which no storage fees apply while awaiting customs clearance. After this period, storage charges are incurred. However, a port operator in Douala pointed out that “under the customs code, importers are required to clear and remove their containers within a maximum period of three months — that is, 90 days — otherwise, they are considered abandoned and transferred to the customs administration for auction.”

Currently, the presence of about 2,500 such containers at the Port of Douala is hindering the terminal’s optimal operations. Members of the port community suggest that the phenomenon is driven by the relatively low storage fees charged at the terminal compared to those at off-site warehouse facilities.

“Importers are tempted to leave their containers in the yard because it’s secure and the storage costs are much lower than outside the port,” explained a seasoned observer of Douala’s port logistics. “This behavior is not consumer-friendly, as the additional charges incurred by this practice are generally passed on to the product once it reaches the market, thereby fueling inflation.“

This is not the first instance of a large quantity of containers being abandoned at the Douala terminal. The practice appears to be entrenched among importers for the reasons mentioned. In 2014, for example, due to congestion caused by containers exceeding the 90-day limit, the Cameroonian government ordered their removal from the port. Nearly 1,000 containers were transferred from the terminal within the port to a three-hectare area known as the “Udeac-Cotco zone,” which was established to hold up to 2,900 TEUs.

Source: Business in Cameroon

2, June 2025

Port of Douala and partners sign CFAF50B deal for logistics expansion ⁰

The Port Authority of Douala (PAD) and Douala Port Container Solution SA (DPCS) have signed a landmark agreement to build a 25-hectare logistics platform dedicated to the storage and management of empty containers. Signed on May 30, 2025, in Douala by Cyrus Ngo’o, Director General of PAD, and Evariste Eloundou Onana, General Administrator of DPCS, the project is set to transform operations at the Port of Douala’s timber dock.

The public-private partnership (PPP) is financed and will be executed by DPCS, a project company of the Cameroonian group Project Partners, which specializes in the port, shipping, and maritime industries. The agreement spans 28 years, allocating one year for design studies, two years for construction, and a 25-year operational phase.

Development plans include a 21-hectare area for container storage, a 1-hectare zone for empty container repairs, and a dedicated refrigerated container management area. This refrigerated section will feature approximately 240 outlets, designed to proactively address potential congestion at the main container terminal.

Beyond core container facilities, the project encompasses the construction of a head office, a 5,800-square-meter technical zone, and a 5,000-square-meter green space. Supporting infrastructure will include two 300-square-meter gatehouses, a 5,000-square-meter engine maintenance area, and a 4,000-square-meter administrative building housing various offices for the logistics zone’s services.

DPCS will also undertake complementary activities, such as stacking and preparing empty containers before the stuffing of raw materials like cocoa, coffee, or cotton. The platform will additionally offer rentable storage space. The total project cost is estimated at 50.4 billion CFA francs, with DPCS contributing 10 billion CFA francs (20%) in equity and securing the remaining 40 billion CFA francs (80%) from financial partners.

According to PAD, the project is projected to yield an impressive internal rate of return of approximately 18%. By the end of its operational period, it is expected to generate total revenues of around 220 billion CFA francs. DPCS will receive an estimated 128 billion CFA francs (58%), while PAD royalties and state duties and taxes are projected to amount to 91 billion CFA francs (42%).

Joseph Nguene Nteppe, Head of the Analysis and Cooperation Division at PAD, stated the initiative is expected to create 1,200 direct and indirect jobs. Furthermore, he noted its contribution to modernizing and securing handling operations at the Port of Douala, simultaneously boosting the port’s overall revenues.

Source: Business in Cameroon

29, May 2025

Sidi Ould Tah elected president of African Development Bank ⁰

Sidi Ould Tah of Mauritania was today elected President of the African Development Bank Group at the Bank’s Annual Meetings held in Abidjan, Côte d’Ivoire.

Tah was elected by the Bank’s Board of Governors, comprising Finance and Economy Ministers or Central Bank Governors of the Bank Group’s 81 regional and non-regional member countries. The board is the highest decision-making authority for the Bank Group.

The results were announced by Niale Kaba, Minister of Planning and Development for Côte d’Ivoire, and Chairman of the Board of Governors of the Bank Group.

The winning candidate is required to obtain at least 50.01% of both the regional and non-regional votes.

A Mauritanian national, Tah brings over 35 years of experience in African and international finance. He served as president of the Arab Bank for Economic Development in Africa (BADEA) for 10 years from 2015, where he led a full transformation that quadrupled the Bank’s balance sheet, secured a AAA rating, and positioned it among the top-rated development banks focused on Africa.

A former Minister of Economic Affairs and Finance of Mauritania, Tah has held senior roles in multilateral institutions and has led crisis response, financial reform, and innovative resource mobilization for Africa, including the establishment of BADEA’s $1 billion callable capital program for African MDBs.

The Board of Governors Steering Committee received and approved a total of five candidates by the closing date of 31 January 2025. The list of candidates was officially announced on 21 February 2025.

The other candidates in the election were:

Amadou Hott (Senegal)
Samuel Maimbo (Zambia)
Mahamat Abbas Tolli (Chad)
Bajabulile Swazi Tshabalala (South Africa)

Tah will assume office on 1 September 2025, for a five-year term, following the end of the second mandate of current President, Dr. Akinwumi Adesina.

The African Development Bank’s past heads since its inception in 1964 are:

Mamoun Beheiry (Sudan), 1964-1970
Abdelwahab Labidi (Tunisia), 1970-1976
Kwame Donkor Fordwor (Ghana), 1976-1980
Willa Mung’Omba (Zambia), 1980-1985
Babacar N’diaye (Senegal), 1985-1995
Omar Kabbaj (Morocco), 1995-2005
Donald Kaberuka (Rwanda), 2005-2015
Dr. Akinwumi Adesina (Nigeria), 2015-2025.

The election of a new president comes at a crucial time in the Bank Group’s six decades of existence. Africa has remained resilient despite climate shocks, economic disruption, and a shifting geopolitical landscape, but needs to move faster or risk falling behind on delivering on the African Union’s Agenda 2063 and the Sustainable Development Goals, summed up in the Bank Group’s High 5’s.

The 2025 Annual Meetings of the African Development Bank Group are taking place from May 26 to 30 in Abidjan, Côte d’Ivoire under the theme “Making Africa’s Capital Work Better for Africa’s Development.”

The African Development Bank Group comprises three entities: the African Development Bank, the African Development Fund and the Nigeria Trust Fund. Its shareholder countries include 54 African countries or regional member countries, and 27 non-African countries or non-regional member countries.

Source: CNBC News

29, May 2025

Cameroon emerges as key market for Orange Money in Africa ⁰

Orange Money has achieved significant penetration and usage in Cameroon, ranking the country among the leading African markets for the platform. Representatives from Orange Money Cameroon presented data to the Directorate General of Customs (DGD) in Yaoundé on May 27, 2025, highlighting the service’s extensive reach as part of a proposal to the customs administration.

Orange Money, a subsidiary of Orange Cameroon specializing in mobile payments, now serves more than 11 million customers in Cameroon. This figure represents over 11.5% of the 96 million Orange Money users across 17 African countries.

Official data also show that more than 100,000 sales outlets in Cameroon provide Orange Money services, supporting the creation of over 200,000 jobs to date. These outlets account for more than 25% of the 400,000 points of sale dedicated to Orange Money distribution across Africa, according to Orange Group figures.

The widespread adoption of mobile payment services such as Orange Money and MTN Mobile Money in Cameroon reflects their popularity since launch. Their flexibility in enabling money transfers, withdrawals, merchant payments, mobile banking, and tax payments has fueled a surge in mobile money usage in recent years.

The expansion of mobile money in Cameroon was notably accelerated by restrictions imposed during the COVID-19 pandemic. The global lockdown prompted many Cameroonians to adopt mobile money services, as reducing cash handling in financial transactions was a key preventive measure promoted by the government to curb the spread of the virus. Authorities encouraged the use of mobile money, e-payment, and mobile banking. In response, mobile money operators reduced fees and ramped up promotional offers to attract more users.

Intense Competition for Market Leadership

The impact of these measures, along with the broader benefits of mobile money in promoting financial inclusion, is reflected in the results of the 5th Cameroon Household Survey (Ecam 5), published on April 24, 2024, by the National Institute of Statistics (INS). The survey shows that mobile money usage in Cameroon “increased significantly,” rising from 29.9% in 2017 to 42.7% in 2022 among people aged 15 and older—a 12.8 percentage point increase over five years.

The 2022 Report on Payment Services in the CEMAC region published by the Bank of Central African States (BEAC), underscores Cameroon’s dominance in mobile money within the six-nation bloc. According to BEAC, Cameroon accounted for the majority of mobile money transactions in the region in 2022, both by volume (71%, or 1.7 billion transactions) and by value (55%, or 59,003 billion CFA francs).

Local subsidiaries of Orange and MTN are engaged in fierce competition for market leadership. Orange Cameroon claims a 70% market share in mobile money, while MTN contests this, asserting superior performance. “I believe I can also say that we have now become the leader in the mobile financial services market, as our subsidiary Mobile Money Corporation now has the largest active mobile money user base in the country,” said Mitwa Ng’ambi, then CEO of MTN Cameroon, in an interview with Investir au Cameroun in early 2023.

Source: Business in Cameroon

27, May 2025

World Trade Organization: Ngozi Okonjo-Iweala is in Yaoundé ⁰

Ngozi Okonjo-Iweala, the Nigerian Director-General of the World Trade Organization (WTO), arrived in Yaoundé on May 25, 2025. Her visit is part of the preparations for the organization’s 14th Ministerial Conference.

During her visit, the WTO Director-General is scheduled to meet with Cameroonian authorities and economic operators to outline the terms of reference for the upcoming WTO Ministerial Conference. The high-level event is slated to take place in Yaoundé from March 26 to 29, 2026.

The visit will also include the signing of an agreement between the WTO and Cameroon, detailing the responsibilities and cost-sharing arrangements for organizing the conference.

Cameroon was initially chosen to host the 13th WTO Conference in 2024 but subsequently withdrew from organizing it following “an arrangement” with the United Arab Emirates. Instead, Cameroon positioned itself to host the 2025 edition, a decision ratified during a December 19, 2022, meeting of WTO member countries in Geneva, Switzerland.

The WTO Ministerial Conference is a world-class event, typically drawing thousands of delegates and international trade stakeholders from the WTO’s 164 member countries. This major gathering serves as a forum for WTO members to discuss global trade policy and reforms. Cameroonian authorities have hailed the hosting of this event as a diplomatic victory for the nation.

Source: Business in Cameroon

22, May 2025

Biya regime to borrow as much as $348m to bolster finances ⁰

Cameroon’s finance minister has been authorised to raise up to 200 billion CFA francs ($348 million) from international financial markets to shore up government cash flows for fiscal year 2025, according to a presidential decree.

Kelly Mua Kingsly, Head of Finance Operations of the State at Cameroon’s Ministry of Finance, told Reuters on Wednesday that the government would consider using several market instruments, but most likely syndicated loans.

“This is most likely given the urgency and nature of liquidity needs. It is also attractive due to shorter structuring time and flexible drawdown options,” Kingsly said.

In addition, he said concessional or semi-concessional loans suitable for budget support components and assimilable treasury bonds or treasury bills on the Bank of Central African States (BEAC) market could also be considered.

Eurobonds were less likely, he said, due to high global interest rates, low sovereign credit ratings and lower appetite from international capital markets for frontier markets in the wake of the COVID-19 pandemic and during a period of geopolitical risk.

The borrowing plan comes as Cameroon faces slow disbursement of external financing and delays in revenue mobilisation, notably non-oil tax collection deficits.

Tight monetary policy by the regional central bank to curb inflation and stabilise the CFA franc currency has provoked a liquidity squeeze across Central Africa, while the BEAC’s reserve requirement has impacted treasury liquidity.

Officials also say the government is keen to diversify its sources to avoid excessive domestic borrowing that could crowd out private sector investment.

Cameroon has recently relied on domestic and external borrowing to bridge budget deficits.

($1 = 575.5000 CFA francs)

Source: Reuters