Since the adoption of Cameroon’s Private Investment Law in 2013, the country has mobilized approximately CFA 7,500 billion through 424 investment agreements, reportedly generating 168,000 jobs. While these figures highlight the law’s role in attracting private capital, government officials note efficiency gaps, fiscal costs, and underperformance in job creation, prompting calls for reform to better align incentives with strategic economic priorities.
In Cameroon, the government is undertaking a major revision of the private investment law, which has been in effect since 2013. According to the authorities, this legislation has created 168,000 jobs and mobilized nearly 7.5 billion CFA francs through 424 investment agreements. However, during the presentation of the new draft law to parliamentarians, the Minister of Economy, Alamine Ousmane Mey, advocated for a more targeted system, refocused on strategic sectors such as industry, agriculture, energy, and health.
It is important to note that, under the 2013 law, 424 investment agreements have been signed, committing approximately 7,504 billion FCFA for 168,000 jobs. It’s not enough, we know that.
Alamine Ousmane Mey, Minister of Economy, Planning and Regional Development
Government officials acknowledge that the law’s outcomes fall short of expectations. Tax incentives have been criticized for favoring sectors with limited economic impact, and fiscal costs remain high. In 2023, total tax expenditures linked to the law reached CFA 449.4 billion, with CFA 113.5 billion directly attributable to private investment incentives roughly 25% of total fiscal spending. The IMF has urged Cameroon to streamline incentives to ensure efficiency while sustaining investor confidence.
Revising the law on attracting investment is necessary, but for me, it’s not the central focus of revitalizing the economy. It would be more useful and more timely to work on confidence, restoring confidence. Attracting investors through restoring confidence, first national confidence, then international confidence.
Honoré Justin MONDOMOBE, Expert in Economic Intelligence
The ongoing reform aims to better target incentives, strengthen oversight, and maximize real economic benefits. For the government, the goal is to ensure that private investment becomes a genuine driver of transformation, capable of stimulating domestic production, increasing competitiveness, and generating sustainable jobs in priority sectors. This strategic reorientation is considered essential to aligning Cameroon’s ambitions with the current needs of its economy.
