Cameroon Attracts CFAF 529 Billion in FDIs in 2024, Ranking 4th in Central Africa

Cameroon attracted $925 million in foreign direct investment in 2024, a rise of 15.7% from the previous year. This investment positions Cameroon as the fourth largest FDI destination in Central Africa, behind the Democratic Republic of Congo, Gabon, and Chad. China’s substantial investment role continues to dominate, particularly in infrastructure projects.

Cameroon has recorded a notable growth in foreign direct investment (FDI), drawing $925 million, or approximately CFAF 529 billion, in 2024. This figure indicates a 15.7% increase compared to 2023 when FDI stood at $799 million, approximately CFAF 457 billion. The rise comes on the heels of a significant drop to $675 million during the peak of the COVID-19 pandemic in 2020. The renewed foreign investor interest has helped Cameroon surpass the $900 million mark again.

In the broader Central African context, Cameroon has achieved fourth place among ten nations for FDI inflows, according to a recent report by the United Nations Conference on Trade and Development (UNCTAD). Despite being surpassed by the Democratic Republic of Congo, Gabon, and Chad, the country is maintaining a steady climb on the investment ladder. The DR Congo dominated the region with $3.113 billion in FDI, accounting for nearly half of the total $7.907 billion flowing into Central Africa in 2024.

Gabon followed up with $1.145 billion, or 654.6 billion CFA francs, and Chad achieved $1.019 billion, or about 582.6 billion CFA francs, solidifying their top three spots in FDI receptiveness within the subregion. This influx reflects a competitive investment environment among Central African countries.

While UNCTAD’s report did not specify precise investor nations, China’s role as a leading investor in Cameroon is well-established. The Asian giant has been the primary source of foreign capital in the country since the early 2000s. Notably, between 2000 and 2014, Cameroon attracted a total of 2.75 trillion CFA francs in FDI, with 1.85 trillion CFA francs—or approximately 67%—originating from China, as outlined in a document from the Presidency of the Republic that references UNCTAD statistics.

The presence of Chinese investments in Cameroon gained momentum alongside the rollout of first-generation infrastructure initiatives in the 2010s. This includes significant projects such as roads, bridges, and dams primarily executed by Chinese firms. These firms, including CCCC, CWE, CHEC, and Sinohydro, receive financial backing from Eximbank China, which ensures that project loans are linked to specific executing companies. Additionally, telecom giants like Huawei and ZTE have established strong footing in Cameroon’s telecommunications sector.

In conclusion, Cameroon has reported a rise in foreign direct investment, reaching CFAF 529 billion in 2024. The nation ranks fourth among Central African countries for FDI, trailing behind the Democratic Republic of Congo, Gabon, and Chad. China’s continuing dominance in investment underscores the importance of its financial contributions alongside other international investors like France and the United States, particularly in infrastructure and telecommunications sectors.

Original Source: www.businessincameroon.com

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