Cameroon Politics and Economy

Cameroon is an African presidential republic. The country has enjoyed political stability despite the power given to the head of state. The modern country is a union of the former French Cameroon and British Cameroon. The country has seen considerable development in agriculture, roads, railways and the petroleum industry. Cameroon borders Central African Republic, Chad, Republic of Congo, Equatorial Guinea, Gabon, and Nigeria. 41 percent of the land is forested. The country is also well resourced in minerals, petroleum, timber and hydroelectric power.

Cameroon’s ethnic groups include Cameroon Highlanders, Equatorial Bantu, Kirdi, Fulani and Northwestern Bantu. Christianity makes up the most practiced religion, followed by Islam. Cameroon has shown a $100 per capita GDP growth for the last 3 years, bringing the total to $3700. The country has a 4 percent industrial growth rate and a 4.3 percent unemployment rate. The economic growth has shown a decline after stabilizing at an average of 5.8 percent in 2015 to 4.7 percent in 2017.

2021
April 2Good Friday
May 1Labour Day
May 13Ascension Day
May 13Eid al-Fitr
May 20National Day
July 20Eid al-Adha
August 15Assumption of Mary
August 16Assumption of Mary observed
October 19The Prophet’s Birthday
December 25Christmas Day
  • Limited Liability
  • Corporation
  • Partnership
  • Corporate Tax: 31.5%
  • Income Tax (Lowest Marginal Rate): 10%
  • Income Tax (Highest Marginal Rate): 35%
  • VAT/GST/Sales Tax: 19.25%
  • Afriland First Bank (Commercial Bank)
  • Atlantic Bank Cameroon (Commercial Bank)
  • Banque International du Cameroun pour l’Epargne et le Crédit (BICEC) (Commercial Bank)
  • BGFI Bank Cameroon (Commercial Bank)
  • ScbCameroun (Commercial Bank)
  • Citibank (Commercial Bank)
  • Commercial Bank of Cameroon (Commercial Bank)
  • Ecobank Cameroon – Acquired Oceanic Bank Cameroon (Commercial Bank)
  • National Financial Credit Bank (NFCB) (Commercial Bank)
  • Société Commerciale de Banque du Cameroun – (Formerly SCB Credit Agricole) (Commercial Bank)
  • Societe Generale des Banques au Cameroun (SGBC) (Commercial Bank)
  • Standard Chartered Bank (Commercial Bank)
  • Union Bank of Cameroon (UBC) (Commercial Bank)
  • United Bank for Africa (UBA) (Commercial Bank)
  • Bank Cameroon (Private Bank)

Aadmi can support you with your expansion to Cameroon. Our team of experts in country manage every aspect of your expansion from incorporation, accounting, legal, and even administrative concerns.  Matched with Global People Strategist’s powerful labor compliance software, your company is in good hands.

Contact us today for more information about how your company can benefit from using Aadmi as your global expansion partner.

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