| 
The
Republic of Cameroon is located just north of the Equator, alongside
the Bight of Biafra, (Coastline: 402 km) in Western Africa, between Equatorial
Guinea and Nigeria.
Its name originated
from a description given to the Wouri River by a 15th century Portuguese
sailor: Rio dos Cameroes (River of Shrimps).
Its total
area:
475,440 sq.km (land: 469,440 sq. km water: 6,000 sq. km)
The bordering
countries are: Central African
Republic (over 797 km), Chad (over
1,094 km); Republic of the Congo (over
523 km); Equatorial Guinea (over
189 km); Gabon (over 298 km); Nigeria
(over 1,690 km)
Population: 15,746,179 (census
2003);
17,705,000 (July 2005 est.). Population growth rate: 2.79% (1999);
2.49% (2005 est.)
Capital-City: Yaounde
Independence: from France: 1 January
1960 (United Nations' trusteeship under French administration)
National
holiday: May, 20 - Constitution: May
20, 1972
Natural
resources: petroleum, bauxite, iron ore, timber, hydropower
Agricultural
productions: coffee, cocoa, cotton, rubber, bananas,
oilseed, grains, root starches; livestock; timber
Industrial
productions:
petroleum production and refining, food processing, light consumer goods, textiles,
lumber Industrial production growth rate: 2.5%
Cameroon another African country (soon) in trouble?
For five decades running, Cameroon, under the leadership of its two
heads of state - Ahidjo (from 1960 to 1982) and Paul Biya since
1982 - enjoyed political stability in comparison to other surrounding regional
countries such as Chad and Central African republic. (click
here for countries briefs). However, during 1992-1994 period the opposition
staged huge civil unrest rallies (Operation "villes mortes" / Dead cities protestations
rallies) in order to force out Biya. Biya managed
to survived and hang on to power.
After that troubled period, the country enjoyed a decade of relative
stability, that is now coming to an end. Indeed, since 2007, dark clouds are
gathering and instability is looming. On February 28, 2008, riots erupted
in several cities and in the city-port of Douala, led by gangs of jobless youths,
who ransacked infrastructure, smashed cars and vehicles, and burnt down shops.
To restore Law and Order, Army and police fire ball-cartridges, that caused the
death of at least 25 people (official counting)
All this unrest is happening because the developing strategy used since
the independence era had
not established an economy that creates jobs. 60% of the working class toil
in the "gray"/ underground economy, earning survival "wages" [EURO40
per month in average] that is insufficient to pay for escalating living costs:
housing rental, utilities supply, food staples purchase and healthcare. In addition,
80% of graduated in all lines of knowledge are jobless.
This
is not peculiar to Cameroon as
here exposed.
The
energy crisis (experienced
by the whole continent)
is not helping either. It is hampering small enterprises' productivity.
Tailors-shop, industrious welders and mechanics shops cannot
rely on a permanent supply of energy. Transport businesses, thousands of taxi-cab
drivers and moto-drivers are handicapped by the rising cost of oil.
In response to the risings, the government hiked civil servants'
salaries. Private sector enterprises may also follow suit. However,
that initiative would only buy time, as the energy crisis is not helping
to increase productivity of existing businesses or establish new enterprises.
A sober observer of Cameroon political stage can see that, like
most of African countries, Cameroon is at the cross-road that may lead
to global conflagration and chaos - which is already happening in several
other African countries. for lack
of a proper developing strategy capable of establishing an economic system
that creates jobs to cope with demand,and
riches for all in order to alleviate poverty.
Nevertheless Cameroon has assets
Cameroon has one of the strongest
agriculture in sub-Saharan Africa and is amongst the top world producers of
cash crops: coffee, cocoa, banana, pineapple. These productions and comfortable
oil reserve / production help the country to be one of the economic "success
story" in the CEMAC region.
Still, it has to struggle with hindrances, which have
plagued the economic development of many third world countries; such as inflated
civil service, "corruption" and a generally unfavorable
climate for business enterprise (due to the business "aggressiveness" of
some local entrepreneurs.)
If one takes time to scout
for dynamic and reliable local business partner(s) one is sure to enter
the most successful Central Africa's market - the doorway to a consumer base
of 60,000,000 in the CEMAC region
- where double digit return on vested money is possible.
There
are business opportunities in almost any economic sector; particularly in
agribusiness, telecommunication, transport, oil industry. Etc.
TOP
|
|
GNP:
US$ 8.666 billion (2000); 9 billion (2002); 9.800 billion (2004);) 9.950 billion
(2006);
GNP-growth
rate: 4.4%
(2000); 5.5% (2002); 4.9%
(2004); 4.9% (2006); 3.2%
(2007 est.)
GNP-per
capita: US$
577 (2000); 600 (2002); 580
(2004); 585 (2006);
Click
here for the difference between GNP and Parity Purchasing Power
GNP-composition
by sector
-
agriculture:
44.3%
- industry:
15.9%
- services:
39.8% (2007)
Exports:
US$ 2.1 billion
(f.o.b., 2000); 1.9 billion f.o.b. (2002) ; 3.9 billion f.o.b. (2007 est.)
Commodities:
crude oil and petroleum
products, lumber, cocoa beans, aluminum, coffee, cotton
Imports:
US$ 1.6 billion (f.o.b., 2000); 1.7 billion f.o.b. (2002 est.); 3.7
billion f.o.b. (2007 est.)
Commodities:
machines and electrical
equipment, transport equipment, fuel, food
For currency equivalence
click here
TOP
|
- THE REPUBLIC OF CAMEROON - BRIEFS
.-
