Financial Sector Overview
Cameroon is a lower middle-income country with an estimated population of 24 million. Located along the Atlantic Ocean, Cameroon is also bordered by Chad, the Central African Republic (CAR), Equatorial Guinea, Gabon and Nigeria. Two of its regions (sharing borders with Southern Nigeria) are English-speaking, while the rest of the country is francophone. Cameroon is endowed with abundant natural resources, including oil and gas, valuable minerals, high-value wood species and a rather dynamic agricultural sector that contributed to 76% of economic growth in 2017, and 68% in 2016. Agriculture accounts for 21.3% of GDP, while the industrial and tertiary sectors stand at 30.8% and 47.9% respectively. Cameroon ranks 163rd out of 190 economies in the 2018 World Bank's Doing Business report (compared to 172 out of 189 in 2016). The government has targeted specific sectors as investment priorities: transportation, food industry, tourism and rural development. Major programmes are being implemented with the support of international donors.