The banking and financial sector in cameroon is branded by a large number of commercial banks with nearly 14 institutions subsidiaries of french companies, anglosaxon and some local or regional banks and a banking rate estimated at less than 5%. The academic research for the report was done jointly with professors oliver hart and andrei shleifer. Sep 02, 2014 how to start a business in cameroon september 2, 2014 by darlinton omeh 1 comment cameroon is a diverse country of roughly 22 million people on the gulf bordering nigeria, chad,central african republic, equatorial guinea, congo and gabon. Ease of doing business in cameroon 20082019 data 2020. The rank of cameroon deteriorated to 167 in 2019 from 166 in 2018. The rankings are determined by sorting the aggregate scores formerly called distance to frontier on 10 topics, each consisting of several indicators. The legal and regulatory systems are nontransparent and. Doing business 2011 ease of doing business 168 starting a business 1. Doing business 2019 doing business 2019 is the 16th in a series of annual reports investigating the regulations that enhance business activity and those that constrain it. Higher rankings a low numerical value indicate better, usually simpler, regulations for businesses and stronger protections of property rights. General tax code and applied to both resident and nonresident companies.
Like much of francophone africa, it would seem cameroon isnt fulfilling its economic potential. Cambridge core african history doing business in cameroon by josemaria munoz. The kidnapped crew members include five greek nationals, two filipinos and one ukrainian sailor. The following pages present the summary doing business indicators for cameroon along with the comparator economies selected. This page includes a chart with historical data for ease of doing business in cameroon.
Doing business in cameroon introduction cameroon is situated on the west coast of africa. Moreover, cameroon is famous for its cheap labor force as well as its numerous natural resources. The doing business project provides objective measures of business regulations and their enforcement across 190 economies. Doing business in cameroon the geographical coordinates of the country are 6 00 n and 12 00 e. This was created in 1990 to promote internationally competitive export industries. The panel was comprised of roland abeng, abeng law firm, colgate palmolive central west africa cluster manager, mr. Malawi has a relatively free investment environment, but poor infrastructure particularly unreliable electricity and water. The index is a measure created by the bank to gauge the degree to which commercial enterprises encounter regulatory hurdles, legal threats to property, and the time and money spent on things such as.
It covers key aspects regarding the business climate, applicable business vehicles, taxes, foreign exchange controls and immigration requirements. This page includes a chart with historical data for ease. As a state party to the organisation for the harmonisation of business law in africa ohada and the economic and monetary community of central africa cemac, cameroon has adopted. Only two african economies rank in the top 50 on the ease of doing business. Business in cameroon how to verify a cameroon company. Economy profile of cameroon doing business 2020 indicators in order of appearance in the document starting a business procedures, time, cost and paidin minimum capital to start a limited liability company. Cameroon has an important consumer market and it is a gateway to central africa and out to the world through its two 2 deep sea ports bkr meeting, south africa, 19 20 march 2012 doing business in cameroon 7. Along with the northwest region, it is one of the two anglophone englishspeaking regions of cameroon.
Under the creative commons attribution license, you are free to copy. The cameroonian legislator subject to income tax at the rate of 16. Cameroon is ranked 167 among 190 economies in the ease of doing business, according to the latest world bank annual ratings. Doing business 2017 is the 14th in a series of annual reports. Cameroon corruption report business anticorruption portal. Cameroon is a diverse country of roughly 22 million people on the gulf bordering nigeria, chad,central african republic, equatorial guinea, congo and gabon. Cameroon online business listingof company websites doing. Economies are ranked on their ease of doing business, from 1190. Bribery, nepotism, and corruption are rife in almost all sectors of the cameroonian government and economy. Parts 2,3 and 4 of the doing business guides in cameroon have also been attached. However, procedures regarding the setting up of a business in the country are quite complex and costly. The main objective of the professional diploma in business in central africa is to provide an overview of the central african economy and the business opportunities in order. It measures and tracks changes in regulations affecting 11 areas in the life cycle of a.
It has huge reserves of natural gas waiting to be tapped and brought to market. The republic of cameroon is situated in central africa, sharing borders with chad, the central african republic, congo, gabon, equatorial guinea, and nigeria. Singapore to over 200 hours in cameroon and cote divoire. The republic of cameroon has an area of 475,440 square kilometres and a population of 24 million people. Guide to fiscal information key economies in africa 2018. This economy profile presents the doing business indicators for cameroon. Business entities in cameroon healy consultants offers our clients the best corporate structures in cameroon to support their international business. Cameroon online business listingof company websites. Cameroon has no foreign trade zones or free ports at this time but it has an industrial free zone ifs regime that is applicable to all locations through industrial park or singlefactory zones. Ease of doing business in cameroon region subsaharan africa income category lower middle income population 25,216,237 city covered douala 167 db rank db score 46. Doing business in cameroon 2014 country commercial guide for. Cameroon is the largest economy in central africa and currently occupies the 161 world ranking in the best country to do business in.
It was important for us to confirm if this was a legitimate business or a scheme. Business in cameroon in cameroon, the autonomous port of douala has joined the fight by using thermofogging to sanitize the port on march 25. Economy rankings ease of doing business cameroons ranking in doing business 2011 cameroon compared to global good practice economy as well as selected economies. Post and list your cameroon business websites online here if it has relevance to any of these categories. Pirates kidnap 8 sailors from greek tanker off cameroon jan 04, 2020. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Cameroon business douala economy businesses and companies in douala, cameroon. According to the world bank, cameroon currently ranks 168 th out of 183 countries on its ease of doing business index. Touristic and leisure sites bkr meeting, south africa, 19 20 march 2012 doing business in cameroon 2.
As a state party to the organisation for the harmonisation of business law in africa ohada and the economic and monetary community of central africa cemac, cameroon has adopted financial regulations enacted for the whole countries of cemac. Issues and potential challenges for banks, financial institutions in cameroon. Cameroon business companies and businesses in douala. Doing business in malawi market overview malawi is one of the poorest nations on earth, with over 17 million inhabitants and a population. Cameroon is an oil producer that regularly puts 100,000 barrels a day on the market. Doing business in cameroon is also considered challenging by the world bank, cameroon is ranked at 172nd out of 189 countries in ease of doing business around the world. The coronavirus pandemic raging in cameroon since march 2020 could last for another 3 months. Cameroon is the 3rd best country in subsaharan africa for getting electricity, according to the world banks doing business 2012 study. We were contacted by a company in cameroon who wanted to do business with us. The sections primary mission is to increase trade and improve business relationships between the united states and cameroon. Corruption is endemic in cameroon and significantly increases the costs and risks of doing business. From the mid1980s to the early 2000s, images of crisis and reform dominated talk of cameroons economy. In fact, supermarkets make up only 4% of the nigerian market, though its share has doubled since 2006, indicating a in algeria, morocco and cameroon. The ease of doing business index is an index created by simeon djankov, an economist at the central and eastern europe sector of the world bank group.
The data used for this country profile come from the doing business database and are summarized in graphs and tables. Doing business in cameroon examines the aftermath of that period of turbulence and unpredictability in the northern city of ngaoundere. Doing business sheds light on how easy or difficult it is for a local entrepreneur to open and run a small to mediumsize business when complying with relevant regulations. The registry provides the namechecking service free. Smespro provided us with reliable data within few hours to make quick business decision on whether to trade or not and on what terms. International business fair fiac postponed to october 2020, provided the coronavirus pandemic ends in july. Cameroon is attracting african companies business in cameroon. With 189 member countries, staff from more than 170 countries, and offices in over locations, the world bank group is a unique global partnership. The rankings are determined by sorting the aggregate scores on 10 topics, each consisting of several indicators, giving equal weight to each topic. This tax is levied on categories of income as follows. The republic of cameroon is situated in central africa, sharing borders with chad, the central african republic, congo, gabon, equatorial guinea, and nigeria the republic of cameroon has an area of 475,440 square kilometres and a population of 24 million people. Taking the everyday encounters between business actors and state bureaucrats as its point of departure, the book vividly illustrates the backstage and interconnected dynamics of four different sectors cattle. To allow useful comparison, it also provides data for other selected economies comparator economies for each indicator.
This publication has been written to give insights to doing business in nigeria. Figure starting a business in cameroon and comparator economies ranking. Doing business in cameroon 2014 country commercial guide. Economy rankings ease of doing business cameroon s ranking in doing business 2011 cameroon compared to global good practice economy as well as selected economies. Pkf doing business in spain provides information about the financial and legal considerations that could affect business dealings within this country. To learn to do business in central africa angola, burundi, cameroon, the central african republic, chad, equatorial guinea, gabon, congo, the democratic republic of. Doing business 2008 ease of doing business 154 starting a business 160 dealing with licenses 154. Does the agency in charge of immovable property registration commit. Economies are ranked on their ease of doing business. Find a business in cameroon commonwealth of nations. Doing business in cameroon by josemaria munoz september 2018. Cameroons ministry of small and mediumsize enterprises operates a onestop shop intended to facilitate opening a business in a matter of days. There are several ways of doing business in cameroon, the most common being the setting up of a limited liability company sarl. Business entities in cameroon global business set up experts.
This estimate was made in a recent background note published. Cameroon, independent small grocers make up around 60% of all distribution channels, whereas in nigeria, other grocery retailers, such as kiosks and outdoor markets make up nearly 50%. The tax system under ordinary law for companies established in the republic of cameroon is codified in the general tax code and applied to both resident and nonresident companies. Doing business in addition, offers detailed, which exhaustively cover business regulation and reform in different cities and regions within a nation. This report allows a comparison of the economies not. Corruption is still observed to be rife and bribery is commonly employed to bypass rules and regulations. Setting up a business in cameroon, work in cameroon. Cameroon belongs to the economic and monetary community of west africa cemac. Consult our listings of douala banks to learn more. To allow for useful comparison, the profile also provides data for other selected economies comparator economies for each indicator.
Many business scams work on the false premise that the government has dictated all companies wishing to do business in cameroon must be registered in cameroon. Scroll below for a full listing of current cameroon businesses in the directory. The world banks annual doing business survey provides a good guide to the challenges of establishing an office in cameroon. It is a country that is becoming increasingly urbanized. Oct 31, 2015 business in cameroon in the 2016 doing business ranking recently published by the world bank, cameroon came 172 nd out 189 countries listed whilst it was at the 158th position last year. Doing business 2020 world bank documents world bank group. The climate of cameroon also depends on the physical geography of the country. This guide will give investors a high level overview of nigeria which should hopefully lead to a more detailed and. Cameroon latest export news and doing business there. Singapore is the top ranked economy in the ease of doing business. Cameroon is described as the largest economy of central africa because of its demographics 20 million, with an area of 475,442 km. Business licenses are valid for one malawi financial year july through june and must be renewed annually. Telecommunication sector cameroon business mtn cameroon. Cameroon has been noted for business scams and other fraudulent activities when it comes to doing business with foreign companies.
Various ambazonian nationalist and separatist factions regard the sudouest region as being distinct as a polity from cameroon. Doing business presents quantitative indicators on business regulation. Abstract this economy profile for doing business 2016 presents the 11 doing business indicators for cameroon. The scammer will claim to be a government official who can guarantee that a.
The success of this scamming system has been due to the lack of a reliable system of performing identity and background checks on potential suppliers partners andor customers before starting a commercial relationship with any business in cameroon. The registry provides the namechecking service free of charge to notaries or. On may 14th, 2019 amcham members and business leaders convened for an educational seminar on the rising level of danger counterfeit goods pose in cameroon. Visit my website for full links, other content, and more. Business in cameroon in the 2016 doing business ranking recently published by the world bank, cameroon came 172 nd out 189 countries listed whilst it was at the 158th position last year. Richard fowang, a cameroon government customs official and a medical expert. Since its inception, doing business has captured at least one reform making it easier to start a business in almost 95% of economies. Transactions carried out by enterprises approved under the free zone regime.
Further adjustment to the economy of cameroon are envisaged as the imf are pressing for more reforms such as budget transparency, further privatisation and poverty reduction programmes. Read the methodology, explaining how the ease of doing business rankings and the ease of doing business scores are calculated pdf, or download the ranking table pdf. Cameroon therefore falls in this list which ranks the world economies most conducive for doing business. Being the biggest economy in the subsaharan central african region, douala has plenty of multinational banks and many local regional banks. The rankings for all economies are benchmarked to may 2019.
Goods and services are sold freely within this region. Moreover, foreigners are allowed to own 100% of a companys shares. Cameroon online directory cameroon online business websites. Cameroon is the largest and most important economy within the central african economic and monetary community cemac, with a population of more than 21 million inhabitants. These studies provide data on the ease of doing business, rank each location, and recommend reforms to improve performance in each of the indicator areas. Although recent world bank reports indicate a significant improvement in the grcs willingness to respond to some of the recommendations necessary to improve the ease of doing business here, little progress will occur until cameroon can. This topic measures the number of procedures, time, cost and paidin minimum capital requirement for a small to mediumsized limited liability company to start up and formally operate in each economys largest business city.
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