Market Opportunities
Cameroon’s agricultural sector: Cameroon's agriculture sector is already the mainstay of the national economy and the country’s main employer, but many believe there is room for further growth and, especially, modernization of the sector and agro-industry.
Cameroon’s oil and gas sector: Although Cameroon’s oil reserves are largely perceived to have passed their zenith, there remain a number of promising prospects for appropriately sized investors. Cameroon is the 7th largest oil producer in Africa and the 5th in Central Africa. This sector represents 40% of the nation’s exports. Production decreased by 2% in 2007 despite seven new wells drilled and brought into production that year. Cameroon oil sold at $69.99 per barrel at a discount from the world price because Cameroon’s petroleum is so “heavy”. Cameroon’s investor-friendly oil and gas code of 1999 aims to encourage new exploration and further exploitation of maturing fields, especially for onshore blocks, which have not received the attention of Cameroon’s offshore assets.
Cameroon’s mining sector: Cameroon is richly endowed with mining assets including bauxite, cobalt, uranium, iron ore, rutile, and gold, but mining currently accounts for less than 1% of GDP. In 2001, the Government passed a new law to promote terrestrial mining and President Biya has made the mining sector a priority for national development.
Cameroon’s industrial sector: Opportunities exist in the light-manufacturing sector where Cameroon assembles and exports imported components for local and regional consumption. This sector represents 28% of GDP and employs 15% of the active population. Planned investment in transportation, communications, and power infrastructure should encourage this sector in the medium-term by facilitating trade links with neighboring countries. AES-SONEL, the national power provider, has inaugurated its fifth power production facility in December 2009. The 86 MW energy supplement from the new facility would help narrow the deficit that is estimated at 40 MW.