Frequent question: What are the main industries in Cameroon?

What is the main source of income in Cameroon?

Cameroon’s market-based, diversified economy features oil and gas, timber, aluminum, agriculture, mining and the service sector. Oil remains Cameroon’s main export commodity, and despite falling global oil prices, still accounts for nearly 40% of exports.

What is Cameroon known for producing?

Main agricultural products include plantains, cattle meat, cocoa beans, taro, bananas, maize, fresh vegetables and groundnuts. Cameroon’s primary export crops are cocoa, cotton, coffee, bananas, rubber and palm oil (FAO, 14.07. 2006). The country’s main export partner is the European Union.

What is the biggest company in Cameroon?

Large companies include Alucam, the aluminium smelting subsidiary of Rio Tinto Alcan; the Cameroon Development Corporation, a state-owned agricultural enterprise said to be the largest employer; SOSUCAM, a sugar manufacturer; petroleum producers Elf, Perenco, and Pecten (Shell); banks, Société Genérale, Crédit Lyonnais …

What does Cameroon’s economy rely on?

Cameroon’s economy continues to depend heavily on the sale of its products on the world market, and fluctuations in the global prices of its primary goods—petroleum and cocoa—have made its economic situation unpredictable; corruption, a persistent problem, also hampers economic development.

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What are Cameroon’s major imports?

Imports The top imports of Cameroon are Crude Petroleum ($347M), Scrap Vessels ($332M), Rice ($323M), Special Purpose Ships ($216M), and Packaged Medicaments ($169M), importing mostly from China ($1.68B), Nigeria ($889M), France ($567M), Belgium ($334M), and Thailand ($237M).

Who is the richest person in Cameroon?

Kate Kanyi-Tometi Fotso is a Cameroonian businesswoman who founded the largest cocoa exporter in Cameroon. Fotso, according to Forbes Africa, is the richest woman in Cameroon and the 20th richest person in the African Francophonie.

What is agriculture in Cameroon?

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. … Systematic diversification of agricultural production into such crops as palm oil, rubber, and sugar has taken place.

Why are manufacturing industries not well developed in Cameroon?

Our findings show that the long-term relationship between trade opening and industrialization of the manufacturing sector is not stable and that trade opening negatively affects the manufacturing sector of Cameroon. … Moreover, Cameroon manufacturing enterprises are apparently unable to satisfy domestic demand.

What are the major natural resources of Cameroon?

Cameroon is endowed with rich natural resources, including oil and gas, mineral ores, and high-value species of timber, and agricultural products, such as coffee, cotton, cocoa, maize, and cassava.

Are other well known businesses based in Cameroon?

Major export markets include France, Italy, South Korea, Spain, and the United Kingdom. Cameroon is aiming to become an emerging country by 2035.

Notable firms.

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Name Brasseries du Cameroun
Industry Consumer goods
Sector Brewers
Headquarters Douala
Founded 1948

How many banks are in Cameroon?

Number of banks per country in CEMAC 2017

This statistic presents the number of banks in each country of the Central African Economic and Monetary Community in 2017. There were 15 banks in Cameroon in that year.

What are the requirements of starting a new company in Cameroon?

For a company registered in Cameroon to be fully operational, it must show proof of the following;

  • A certificate of Incorporation (MO Form)
  • A Tax Payer’s Registration Number.
  • A business License.
  • A notarized lease agreement.
  • A localization plan.
  • A Certificate of non-indebtedness.
  • An attestation of Bank account creation.

What is the poverty line in Cameroon?

Cameroon – Poverty headcount ratio at national poverty line

In 2014, poverty rate at national poverty line for Cameroon was 37.5 %. Poverty rate at national poverty line of Cameroon fell gradually from 53.3 % in 1996 to 37.5 % in 2014.

Is Cameroon richer than Philippines?

Philippines has a GDP per capita of $8,400 as of 2017, while in Cameroon, the GDP per capita is $3,700 as of 2017.

Is Cameroon richer than Nigeria?

Nigeria has a GDP per capita of $5,900 as of 2017, while in Cameroon, the GDP per capita is $3,700 as of 2017.