MANAGERIAL ECONOMICS

ECONOMIC STATUS OF CAMEROON

SUBMITTED BY
KEVIN ANTO S
22MBA052
I MBA
CAMEROON

Cameroon, on the Gulf of Guinea, is a Central African country of varied terrain and wildlife.
Its inland capital, Yaoundé, and its biggest city, the seaport Douala, are transit points to
ecotourism sites as well as beach resorts like Kribi – near the Chutes de la Lobé waterfalls,
which plunge directly into the sea – and Limbe, where the Limbe Wildlife Centre houses
rescued primates. 
Capital: Yaoundé
Yaoundé, spread over 7 hills, is the capital city of Cameroon. It is in the southern part of the
country. The 20th-century Notre Dame des Victoires cathedral has a striking triangular roof.
Nearby, in the Lake Quarter, the former presidential palace is home to the National Museum,
with cultural exhibits such as masks and sculptures. Farther west, Mvog-Betsi Zoo is home to
primates rescued from the bushmeat trade.
Dialing code: +237
Currency: Central African CFA franc
The Central African CFA franc is the currency of six independent states in Central
Africa: Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial
Guinea and Gabon.
Population: 2.72 crores (2021) World Bank
Prime minister: Joseph Ngute
Continent: Africa
Official languages: French, English
Climate:
The southern part of the country is characterized as humid and equatorial with temperatures
ranging from 20-25°C (depending on altitude) and the wettest regions receiving more than
400 mm of rainfall per month. Northern Cameroon (north of 6°) is semi-arid and dry with
temperatures ranging from 25-30°C.
Government and Economy:

After Cameroon became independent in 1960, the country began to prosper and the
government built schools, helped farmers diversify their crops, and encouraged new types
of businesses. The global sale of products, such as cocoa, coffee, and oil, helped boost the
economy.

This period of growth lasted for 20 years until corruption and the decline in the value of
exports caused the economy to go into a recession. Now Cameroon relies on international
aid organizations, as well as the sale of petroleum and cocoa to keep its economy stable.

People with professional jobs usually grow and sell small amounts of crops. The economy
depends a lot on the amount of money people can get from selling oil, tea, coffee, and
cocoa. Because oil reserves may run out in the future, Cameroon is working to come up
with other ways to make money.
Imports and Exports:
In 2020, Cameroon was the number 91 economy in the world in terms of GDP (current US$),
the number 126 in total exports, the number 115 in total imports, the number 159 economy in
terms of GDP per capita (current US$) and the number 121 most complex economy
according to the Economic Complexity Index (ECI).
The top exports of Cameroon are Crude Petroleum ($1.46B), Cocoa Beans ($590M), Sawn
Wood ($400M), Petroleum Gas ($234M), and Rough Wood ($194M), exporting mostly
to China ($664M), Netherlands ($577M), United States ($402M), India ($315M),
and Italy ($248M).
The top imports of Cameroon are Scrap Vessels ($939M), Special Purpose
Ships ($294M), Rice ($233M), Packaged Medicaments ($196M), and Wheat ($183M),
importing mostly from China ($2.02B), Nigeria ($1.21B), France ($580M), India ($254M),
and United Arab Emirates ($229M).
In 2020, Cameroon was the world's biggest importer of Scrap Vessels ($939M).
Inflation Rate:
The inflation rate for consumer prices in Cameroon moved over the past 52 years between -
3.2% and 35.1%. For 2021, an inflation rate of 2.3% was calculated.
During the observation period from 1969 to 2021, the average inflation rate was 5.7% per
year. Overall, the price increase was 1,551.90%. An item that cost 100 francs in 1969 costs
1,651.90 francs at the beginning of 2022.
Top Brands of Cameroon:
Ranking of Retailer brands in Cameroon, based on their awareness score in March 2022:

1. Santa Lucia (Cameroon)
2. Dôvv (Cameroon)
3. Carrefour (owned by CFAO – International)
4. Supermarché Mahima  (Cameroon)
5. Casino (International)
6. Super U (International)
7. Belavie (Cameroon)
8. Kado (Cameroon)
9. BAO (International, owned by 3C Cameroun, Casino group)
10. Spar (International, managed locally by l’Atrium SA, a Joint Venture between Groupe
Arno and Dee-Lite)

Agricultural Produce:
The main subsistence crops include plantains, beans, potatoes, yams, cassava (manioc), corn
(maize), and oil palm in the south and peanuts (groundnuts), millet, and cassava in the north.
Cameroon ranks among the world's largest producers of cocoa beans, which are grown
mainly in the south.
Industries of Cameroon:
Cameroon started following programs as advised by the IMF and World Bank starting from
the 1980s which promoted privatization of industries reducing poverty, and increasing
economic growth. The country has taken steps to encourage the growth of tourism in the
country. The major industries in Cameroon include agriculture, mining, manufacturing, trade,
and transport among others.
MNC’s in Cameroon:

Globalization has led to the rapid expansion of FDI in Africa and multinational companies in
Cameroon such as TOTAL, SHELL, GUINNESS, COCA-COLA, PMUC, and ORANGE
AND MTN.
Cameroonian cuisine:
Cameroonian cuisine is one of the most varied in Africa due to Cameroon's location on the
crossroads between the north, west, and center of the continent; the diversity in ethnicity with
mixture ranging from Bantus, Semi-bantus and Shuwa Arabs, as well as the influence of
German, French and English colonialization.
Among Cameroonian specialties are:

 Fufu corn and njama njama (garden huckleberry leaves)

 Brochettes, known locally as soya (a kind of barbecued kebab made from chicken,
beef, or goat)
 Sangah (a mixture of maize, cassava leaf, and palm nut juice)
 Mbanga soup and kwacoco
 Eru and water fufu
 Ndolé (a spicy stew containing bitterleaf greens, meat, shrimp, pork rind, and peanut
paste)

 Koki (food) (primarily consisting of blackeyed peas and red palm oil)
 Achu soup (cocoyam fufu with an orange/yellow red palm oil soup)
 Mbongo'o tjobi (a spicy black soup made with native herbs and spices)
 Egusi soup (ground pumpkin seeds often cooked with dark leafy greens or okra)
 Kondreh (stewed unripe plantains with herbs and spices, usually cooked with goat
meat)
 Kati kati, a grilled chicken dish and traditional food of the Kom.

Curries, soups and fish dishes abound, as well as meats on skewers. Insects are eaten in some
parts of the country (particularly the forested regions).
Festivals of Cameroon:

Cameroon holidays and festivals are a lot of fun for travelers in the right place at the right
time. Generally held in the larger cities of Douala and Yaoundé, but there are a few in the
smaller regions, as well. From celebrations of the arts like the Festival National des Arts et de
la Culture to traditional showcases like the Ngondo Festival, events in Cameroon have a lot to
offer.

African Music Market

Music lovers should definitely attend the African Music Market or the Le Kolatier, as it’s
known colloquially in Cameroon. This festival which takes place every two years in Douala
is an amazing gathering of some of the best African musicians in the region. These
individuals and groups come together in the spirit of collaboration to perform a celebration of
the region’s vibrant music. There are also interactive activities like seminars, workshops and
a fun trade fair.

Nyem-Nyem Festival

Held during July in Ngaoundéré, a city in the Adamawa area, the Nyem-Nyem Festival is
held to commemorate the resistance movement of the Nyem-Nyem people against German
control. Locals come out in full force, showing their support for those who fought for the
region’s independence. The occasion is marked by cultural dances with full traditional attire.

Culture Week

Observed in either August or September, Culture Week takes place all over Cameroon. The
youth travel back to their villages to pay respect to their families and ancestors. The week
also involves music shows, wrestling matches, sports games and traditional dances that
involve sacred masks.

African Theater Festival for Children and Young People (FATEJ)

November in Cameroon marks the exciting arrival of the FATEJ. Held every two years in
Yaoundé, the festival brings together young people from across Africa and around the world
to participate in theatre workshops delivered by industry professionals. The event is a great
opportunity for troupes around the country to hone their craft in a cosmopolitan and
collaborative environment.

Festival National des Arts et de la Culture (FENAC)

FENAC is the largest festival in Cameroon that has no religious affiliation. Simply a
celebration of the country’s vibrant arts scene, artists from all over help to grow the event and
promote the rich heritage of the region. Taking place in Moroua in December, FENAC is
characterized by lively parades, colorful music and dance shows.

Ngondo Festival

Also taking place in December, Ngondo is a celebration of one of Cameroon’s many ethnic
groups. Held in the city of Douala, the festival’s main goal is to showcase the arts and culture
of the Sawa people who mainly inhabit the region’s coastal areas. The event takes place on
the banks of the Wouri River and it’s a wonderful time to see the streets taken over by dance,
song and friendly competitions like canoe races. The lucky travelers who can make it here
during this time are bound to have a good experience.