Cameroon is blessed with an abundance of natural resources, including in the agriculture, mining, forestry, and oil and gas sectors. Cameroon is the commercial and economic leader in the sub-region.
Cameroon is one of the most prosperous countries in Africa and one of the most stable in terms of business security. The government has embarked upon a series of economic reform.
Cameroon’s major port is in Douala, with smaller ports in Limbe, Kribi, and Garoua.
Banking and Finance
The Bank of Central African States with the French acronym; BEAC, regulates the sector through the Regional Banking Commission, COBAC. A national stock exchange in Douala was inaugurated in the second quarter of 2003. There are several international Banks in Cameroon including the Standard Chartered Bank.
Cameroon is one of the fourteen French-speaking African nations that ratified the Inter-African Conference on Insurance Markets Treaty (CIMA) and adopted a common code with respect to the insurance sector. This supra-national code is designed to regulate the insurance sector in all signatory states.
Apart from National Insurance Companies, there are several foreign insurance companies operating in Cameroon as well.
Investment in Cameroon
The Cameroon government welcomes foreign investment. In March 2002, the parliament approved a new investment charter that establishes a new framework for investments in Cameroon. Cameroon has Bilateral Investment Treaties with a number of countries including the United States that provides, inter alia, investor-state access to international arbitration, the right to make transfers freely and without delay, and the right of establishment. Cameroon is a member of the Organization for the Harmonization of Business Laws (in French, OHADA).