Cameroon’s financial system is the largest in the CEMAC region. Access to financial services is limited, particularly for SMEs. Aside from a traditional tendency for banks to prefer dealing with large, established companies, determining factors are also found in interest rates for loans to SMEs being capped at 15 percent and being heavily taxed.
How did Cameroon become an oil-producing country?
Cameroon became an oil-producing country in 1977. Claiming to want to make reserves for difficult times, the authorities manage "off-budget" oil revenues in total opacity (the funds are placed in Paris, Switzerland and New York accounts). Several billion dollars are thus diverted to the benefit of oil companies and regime officials.
Which countries invest in Cameroon?
France is Cameroon’s main trading partner and source of private investment and foreign aid. Cameroon has an investment guaranty agreement and a bilateral accord with the United States. USA investment in Cameroon is about $1 million, most of it in the oil sector. Inflation has been brought back under control.
How much cotton does Cameroon produce?
In 2018, Cameroon produced: 249,000 tons of cotton. In addition to smaller productions of other agricultural products, such as coffee (33,000 tons) and natural rubber (55,000 tons). [ 16 ] Cameroon’s financial system is the largest in the CEMAC region. Access to financial services is limited, particularly for SMEs.