Research and consulting in Cameroon

Country overview:

IOA has carried out extensive research and undertaken consulting projects on Cameroon that have yielded an in-depth understanding of the resources-rich country. Our political analysts have determined that the country’s current political system, featuring a ‘president-for-life’, will ensure that economic inequity will continue as national wealth benefits an elite, despite reforms fostered by the International Monetary Fund. Cameroonians have defied a dictatorial government with calls for democracy and human rights, particularly in the English-speaking east.

IOA’s economic researchers have learned that investors consider Cameroon’s potential enormous. The mineral resources and oil reserves in the country, coupled with fertile agricultural lands, puts Cameroon among the best-endowed primary commodity economies in Sub-Saharan Africa.

Key opportunities in Cameroon:

IOA analysts have noted that investment in non-oil industries should be the way forward for economic growth
The country has established trade links with major trade partners worldwide
To achieve energy sufficiency, government is targeting renewables, and investment is needed to achieve a 2035 goal of 25% of energy obtained from renewables

Key concerns/risks in Cameroon:

Led by a president for life, government suffers wide-spread corruption
Economic freedom is lessening, and security has deteriorated due to political violence
Oil reserves will be depleted within 10 years, and a weak banking system is undermining prospects of a financial sector expansion as an economic substitute for the energy sector

Find out about how IOA can help you with research and consulting services in Cameroon

Tips on doing business in Cameroon:

Starting a business:

Incorporating a company in Cameroon costs up to roughly US$ 3500 and takes roughly 13 days. Uniquely, foreign nationals are allowed full ownership of local companies, provided they have a work permit

Doing business:

Many professional services are barred unless operators have the necessary licences. Retail and FMCG goods are an easier vertical to penetrate from abroad, but finding qualifying local distributors can be a challenge. It is advised to vet local partners through specialised market research agencies and through personal visits to the country. Dealing with politically exposed individuals is ideally avoided
(Read more at: https://www.investincameroon.net/language/en/)

Culture and society:

Business culture in Cameroon is quite formal, with a strong emphasis on etiquette and protocol. Turning one’s back to a senior, regardless of circumstance, is regarded as a taboo
Organisations can be quite hierarchical, with the majority of decisions being handled by senior managers instead of a team-based approach