2025 Country Report on Cameroon: the African Development Bank Urges the Country to Strengthen Capital Mobilization for Sustainable Growth
Country reports form part of the African Development Bank's African Economic Outlook 2025 which provides an annual assessment of the economic performance and outlook of the continent's 54 countries by examining growth trends, socio-economic challenges, and development progress. The 2025 AEO report was released last May during the Bank Group's Annual Meetings held in Abidjan, Côte d'Ivoire, under the theme 'Maximizing Africa's Capital for Sustainable Development.
'Making Cameroon's Capital Work Better for its Development,' highlights the levers that will enable the country to strengthen domestic resource mobilization and boost inclusive and resilient growth. It calls on the government, the private sector, civil society, and development and financial partners to collectively re the drivers of the country's structural transformation.
The ceremony was attended by members of the Cameroonian government, notably representatives from the Ministry of the Economy, Planning and Regional Development, the Ministry of Finance, the Ministry of Trade as well as the business sector.
The report paints a picture of an economy in recovery, with estimated growth of 3.6 percent in 2024, mainly by continued investment in infrastructure and strong momentum in manufacturing industries, which have benefited from efforts to transform local agricultural and textile products. The country paper relies on a detailed analysis to identify sectors where Cameroon can make progress, particularly in mobilizing domestic resources, strengthening governance, improving the business climate, digitalization and optimizing its natural capital potential.
The report also identifies several priority reforms to enable Cameroon to transform its potential into concrete growth drivers, including reducing tax exemptions and accelerating digitalization, restructuring strategic public corporations, particularly in the energy and refining sectors.
Report findings also stress the importance of strengthening governance, transparency and the rule of law through greater accountability and the publication of the financial statements of public corporations. This includes the need to adopt the National Integrated Financing Strategy (SNFI) to diversify funding sources and leverage carbon market opportunities.
Consolidating the financial sector, processing commodities locally and developing regional infrastructure round out the list of priorities. Finally, the report calls for preserving macroeconomic balances by gradually reducing fuel price subsidies at the pump while supporting investment spending, prioritizing concessional financing, accelerating development in insecure areas and strengthening budgetary capacity to better absorb shocks.
Ameth Saloum Ndiaye, African Development Bank Senior Country Economist for Cameroon and Godwill Kan Tange, Country Economist for Cameroon, presented the report's main findings. They emphasized the report's concrete proposals to optimize the use of budgetary resources, as well as the country's natural, human and financial capital, with a view to stimulating more inclusive and sustainable growth.
The presentation also explored key issues such as public corporation reform, governance, debt management, industrial development, vocational training and the challenges of mobilizing innovative financing, as well as sovereign debt ratings for African economies.
'The African Development Bank Group commends the Cameroonian authorities for their commitment to implementing a National Integrated Financing Strategy, which is currently being adopted and should enable the country to diversify financing sources for its development agenda. This means that the report is fully aligned with the government's priorities,' said Mamadou Tangara , Head of Operations, speaking on behalf of the Bank's Director General for Central Africa.
The Secretary General of Cameroon's Ministry of the Economy, Planning and Regional Development, Jean Tchoffo, representing the Bank's Governor for Cameroon, welcomed the Bank's recommendations, which are aligned with the National Development Strategy 2030 (SND30).
'This report comes at a key moment, as we are conducting a mid-term review of the implementation of our National Development Strategy 2020-2030,' Tchoffo said . 'We are convinced that its recommendations will enrich our thinking and strengthen our efforts to return to solid, sustainable and inclusive growth and accelerate the structural transformation of our economy.'
By presenting the Cameroon Country Report 2025, the African Development Bank supports Cameroon's push for structural transformation, stronger capital mobilization, and resilient growth.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
BBC News
2 hours ago
- BBC News
Guernsey's digital sector has 'untapped potential'
Guernsey could boost its economy by £150m a year if it matched the digital productivity of similar-sized locations, researchers have suggested.A study conducted by PricewaterhouseCoopers (PwC) for the States of Guernsey said there was "untapped potential" in the sector's output across the island's said Guernsey's digital sector had solid foundations with £120m currently generated a year, but bringing the industry in line with comparable jurisdictions such as Luxembourg could see this figure jump up to £ added with the right investment, support and focus, the sector could drive the island's economic growth. The report said priorities to boost Guernsey's digital sector included enhancing support services, to bring digital literacy into schools and offering grants and incentives to boost research, ideas and innovation."The time to act is now," PwC said in its report."As we have seen [previously] in our Boosting the Channel Islands Workforce report, Guernsey's ageing population will increasingly be a drag on prosperity."Investing in a thriving digital economy could help alleviate this and yield a much needed digital dividend."
The Independent
3 hours ago
- The Independent
August 2025 bank holiday payment dates for benefits and pensions plus cost of living support
For millions across the UK, managing the cost of living remains a daily struggle as rising prices continue to outpace household incomes. Recent research from the Resolution Foundation found that the cost of essentials in the UK has remained stubbornly high, long past the 'peak' of the cost of living crisis in 2022. Despite inflation returning to pre-pandemic levels, the cost of goods has remained persistently high in the face of stagnant wages. At the same time, exorbitant household bills mean millions are grappling with debts to afford the essentials. Around 7.3 million adults (13.9 per cent of households) experienced food insecurity in January 2025, figures from The Food Foundation reveal, showing no signs of returning to pre-2022 levels. Meanwhile, energy arrears have more than doubled over the past five years, rising to £3.9 billion at the end of 2024. Against this difficult economic backdrop, it's important that households are claiming all the support the they entitled to. There are now around 24 million people in the country claiming some combination of DWP-administered benefits, representing around one in three people. Yet research by Policy in Practice shows that £23 billion worth of benefits goes unclaimed every year – you can use their helpful calculator to work out what you might be entitled to. Here is an overview of the financial support available to households this August and key dates for benefit and state pension recipients to look out for: Benefit payment dates in August Benefit payments will be going out as normal for the most part in August, although there is one bank holiday to be aware of. These include: Due to the Summer bank holiday on Monday 25 August, anyone expecting a payment on that date should instead receive on the previous working day – Friday 22 August. This also applies to state pension payments. For more information on how and when state benefits are paid, visit the government's website. The DWP is aiming to complete the migration of all 'legacy benefits' to Universal Credit by January 2026. Those receiving tax credits, income support, jobseeker's allowance, and housing benefit should have received a notice about moving to Universal Credit already. Are you having issues with PIP, Universal Credit, or any other benefit? Get in touch via email: Pension payment dates in August The basic state pension is paid straight into bank accounts similar to how benefits are paid. It is usually paid every four weeks, with the exact day you receive it corresponding to the last two digits of your national insurance (NI) number. Here's when you should be paid based on those numbers: 00 to 19: Monday 20 to 39: Tuesday 40 to 59: Wednesday 60 to 79: Thursday 80 to 99: Friday When will benefit rates go up? In April, all benefits were uprated by 1.7 per cent, matching the September 2024 inflation figure. The increase applied to all working-age benefits, including universal credit, PIP, DLA, attendance allowance, carer's allowance, ESA and more. Meanwhile, in line with the triple lock, the state pension has risen by 4.1 per cent – up £472 a year – matching wage growth in 2024. In April 2026, all Universal Credit claimants will receive an above-inflation increase to their income following the passage of Labour's controversial welfare bill. These extra-inflationary increases will continue yearly until 2029, with the first being a rise of at least 2.3 per cent. However, at the same time, the monthly payment rate for the health-related element of Universal Credit for new claimants will be cut from £105 to £50. This rate will also be frozen until 2029. This is a reduction of over £200 a month, cutting the additional rate by around half. This means it is advisable for anyone who thinks they might be eligible to apply as soon as they can. Other help available Budgeting advance loans The government offers a 'budgeting advance loan' for people on Universal Credit who face an emergency lack of money. The loan has a maximum repayment period of two years. These loans are interest-free, and automatically deducted from Universal Credit payments. You can borrow an 'advance' of up to: £348 if you're single £464 if you're part of a couple £812 if you or your partner claim Child Benefit Following the Labour Budget in October, a new cap has been introduced on the amount the DWP can deduct from benefit payments to repay loans and debts, including budgeting advance loans. From April 2025, deductions from universal credit will be capped at 15 per cent of the standard allowance, down from 25 per cent. Discretionary Housing Payment Households can apply to their council for a Discretionary Housing Payment (DHP), which offers financial support to go towards rent or housing costs. You can only get a DHP if you are in receipt of Housing Benefit or the housing element of Universal Credit. It can cover housing costs for a rent shortfall, rent deposits and rent in advance if you need to move home. Exact eligibility and the funds available are decided on a council-by-council basis, so you will need to get in touch with your local authority to find out more. Household Support Fund The Household Support Fund (HSF), distributed by local councils, offers vital assistance to those facing financial hardship, complementing standard benefits and grants. As part of this government initiative, eligible households throughout the UK can access support such as essential appliances, contributions towards utility bills, and direct cash payments reaching up to £300. Local authorities are free to decide how to allocate their HSF funding to suit households in their area, so exactly what is available will vary. To apply, households need to contact their council (most offer an online form). This nationwide program is set to run until March 2026. The government has committed £1 billion in funding to transition it into a 'Crisis and Resilience Fund', which will also replace the DHP. Charitable grants If you are struggling financially, you may be eligible for certain charitable grants. There are a wide range of grants available depending on your circumstances. However, these grants will typically require you to meet specific criteria and only be able to offer limited funds. Charitable grants are available for people who are disabled or ill, carers, bereaved, unemployed, students – and many more. The charity Turn2us has an online tool to search for grants which may be available to you. Energy provider help A number of energy suppliers offer help for those struggling with their energy bills. These include British Gas, Scottish Power, EDF, and Octopus. It is worth contacting your energy provider to find out if you are eligible. Council tax reduction If you meet certain criteria or are on certain benefits, you may be able to apply for a discount on your council tax discount of up to 100 per cent. Your local council may still be able to offer you a discretionary reduction if you are able to demonstrate you are facing severe hardship and can't afford to pay your council tax. To apply for a council tax reduction, you can contact your local council via the government's website. Up to 30 hours of free childcare All working parents in the UK are currently entitled to 30 hours of free childcare for children aged 3 to 4. From 1 April 2024, this entitlement expanded to include 15 hours of free childcare for 2-year-olds. From 1 September, it was expanded again to include all children from the age of nine months. You must apply online and reconfirm your eligibility every three months, in time for each school term. Working parents can also apply for tax-free childcare, giving back 20p for every 80p you put towards childcare, up to a maximum of £500 a year. The final expansion to free childcare, coming in September 2025, will see all children under five eligible for 30 hours. Energy Price Cap: Is it going up? Ofgem's energy price cap has be decreased from £1,849 to £1,720 for July to September – a drop of 7 per cent. The welcome fall follows three consecutive rises. The energy price cap is the maximum amount energy suppliers can charge you for each unit of energy if you're on a standard variable tariff. That includes most households. It is expressed as an annual bill for an average home. Will there be another Cost of Living Payment in 2025? The DWP have not announced any continuation of the Cost of Living Payment scheme that ran between 2022 and 2024. The final payment should have been made to eligible households between 6 February and 22 February 2024. Mental health support In the UK and Ireland, Samaritans can be contacted 24 hours a day, 365 days a year. You can call them for free on 116 123, email them at jo@ or visit to find your nearest branch. Mind runs a support line on 0300 102 1234 which provides a safe and confidential place to talk about how you're feeling. There is also an information line on 0300 123 3393 for nearby support, and a welfare benefits line on 0300 222 5782 to support the mental health of those navigating the benefits system. Disability charity Scope has a forum where people can have supportive chats to others going through the same experiences. NHS England offers an online mental health triage service.
BBC News
5 hours ago
- BBC News
NLC reject policy wey wan stop workers from going on strike in Nigeria
Di labour union for Nigeria wey be di Nigeria Labour Congress (NLC) don criticise di National Industrial Relations Policy (NIRP) wey Nigeria govment recently adopt. Nigeria govment on Thursday afta di Federal Executive Council, FEC, meeting bin tok say dem don adopt a new policy wey go control di way unions dey go on strike. Minister of Information and National Orientation, Mohammed Idris, na im announce di decision afta di FEC meeting on Thursday. Oga Mohammed Idris explain say di NIRP go guide trade unions, employers, and govment agencies. E go also promote beta tok-tok wey dey in line wit labour practices for Nigeria wey go also meet international standards. "Di policy na major step forward to address di long-standing gaps for how we dey manage labour relations for Nigeria," But NLC say di main aim of dis newly adopted policy na to stop di workers from going on strike, especially strikes by trade unions, as pipo dey always criticise govment for dis strikes. For statement wey di NLC President, Joe Ajaero sign, di labour union say e shock dem say out of di hundreds of workplace issues wey dey inside di National Industrial Relations Policy, di federal govment only pick out di industrial strikes sake of say na dat one dey give dem headache. "Di unfortunate press statement don expose di mindset of di pipo wey we elect to protect di interests of di ordinary citizen, including workers. NLC also para on how govment use strong-arm tactics to overturn popular decisions through a process of tripartism (three parties wia goment, employers through dia representative and workers agree on sometin) through di process of social dialogue. " NLC tok say wen dem bin dey develop di National Industrial Relations Policy for Nigeria, govment bin wan put some clauses for di policy wey go make strike actions criminal. Di statement add say di trade unions, di employers and even di representatives of govment bin reject am sake of say e no follow di 1999 Constitution and di Trade Unions Act wey give trade unions di power to withdraw dia services in line wit di law. "Di right of a worker and trade unions to withdraw dia services dey fundamental and dem no go fit remove am. Why govment remember dis policy According to NLC, di policy dey since and e cover plenti labour issues for Nigeria but govment remember to pick and adopt only di part wey relate to strike. Nigeria govment adopt am for di FEC meeting on Thursday afta di National Union of Nigeria Nurses and Midwives bin start a seven-day warning strike on Wednesday. Nigeria govment bin announce say di nurses and midwives don suspend dia strike on Friday, but di nurses deny suspension of strike, afta FG tok am. Di nurses begin strike afta dem give 15-days ultimatum to Nigeria govment.
