Cameroon’s Customs Directorate (DGD) collected CFA95.33 billion in January 2025, slightly exceeding its target of CFA95.05 billion. This marks a 29% increase from the CFA73.89 billion collected in January 2024, a difference of more than CFA21 billion.

“In year-over-year terms, revenue has increased by CFA21.44 billion in absolute value, representing a 29% rise,” the DGD noted in its Feb. 13 newsletter.

Despite the strong overall performance, the Littoral I Customs sector, which contributes the most to Cameroon’s customs revenue, fell short of its target. The sector, which includes the Port of Douala, was expected to bring in CFA59.20 billion but ended January with CFA57.31 billion, meeting 96.8% of its goal. The February 2025 target is set at CFA55.03 billion, accounting for 58.5% of the total projected customs revenue of CFA94.02 billion for the month. This is slightly lower than January’s projection.

The DGD has set ambitious goals for 2025. After surpassing CFA1 trillion in revenue for the first time in 2023, reaching CFA1.02 trillion, the customs administration now aims for CFA1.14 trillion this year. That’s an increase of CFA88.1 billion, or 8.3%, compared to the CFA1.06 trillion collected in 2024. To hit this target, the DGD is counting on an average monthly collection of CFA95.3 billion throughout 2025.

Source: Business in Cameroon

The Bank of Central African Countries has made it easier for banks to open new bank branches within the community. A new regulation, in effect since the beginning of the year, allows banking groups already licensed in one of the Cemac countries to expand into others without having to apply for additional approvals.

“During its extraordinary session on December 20, 2024, in Libreville, the ministerial committee of the Central African Monetary Union (UMAC) adopted a regulation on the single banking license in the CEMAC region. This allows banks that already hold a license in one CEMAC country to expand into another without going through new administrative procedures to obtain a separate license,” said Yvon Sana Bangui, governor of the Bank of Central African States (BEAC), in a statement issued on February 14, 2025.

This measure aims to strengthen the banking network across CEMAC, aligning with Cameroon’s ambitions as the region’s economic powerhouse. In 2022, Cameroon alone accounted for 60% of bank accounts in CEMAC about 2.8 million accounts and 28.8% of the region’s banking network, with 15 out of 52 licensed banks. The country now plans to increase its number of banks to 30 by 2030, up from 19 today, as part of its 2020-2030 National Development Strategy (SND30).

Even with this growth, Cameroon is still catching up with countries like Côte d’Ivoire and Senegal, which have similar levels of development. According to the Central Bank of West African States (BCEAO), Côte d’Ivoire had 29 banks and Senegal had 28 as of March 2023. Côte d’Ivoire alone had 4.59 million bank accounts in 2020 1.8 million more than Cameroon in 2022. Across the West African Economic and Monetary Union (WAEMU), the total number of bank accounts reached 15.4 million in 2020, an increase of 3 million over two years. That’s more than three times the 4.7 million accounts recorded in CEMAC in 2022.

Source: Business in Cameroon

Sofavin, a subsidiary of the Fobert Group, officially inaugurated its Coca-Cola production plant on February 6, 2025, in Owendo, about 12 miles from Libreville, Gabon. This marks a major milestone for the company, which has been Coca-Cola’s official bottler in Gabon since 2022.

“We’ve invested over CFA20 billion since joining the Coca-Cola network to meet the standards and requirements of Coca-Cola International and boost our production capacity,” said André Lebouama, Deputy Director representing the Fobert Group. These funds have gone toward modernizing the factory and ensuring it meets global production and quality standards. The total cost of these upgrades, announced by Sofavin in 2022, was forecasted to be around $40 million, or roughly CFA25 billion

The project was made possible with the financial backing of two key banks: BGFIBank, a major Gabonese bank, and the Union Gabonaise de Banques (UGB). However, the exact breakdown of the contributions from each bank has not been disclosed by Sofavin. “Their contributions were crucial to the success of this project,” Lebouama added.

Massive Production Capacity

Spanning 40 hectares, the new facility significantly increases Sofavin’s production capabilities. The factory features three state-of-the-art production lines that can produce 5,000 plastic bottles, 32,000 glass bottles, and 15,000 cans per hour. It will manufacture and package Coca-Cola’s flagship beverages, including Coca-Cola, Sprite, Fanta, and Schweppes, in various formats such as returnable glass bottles, plastic bottles, and cans, all while ensuring product safety and quality.

In addition to meeting growing consumer demand, the factory is expected to create 700 direct and indirect jobs in Gabon. A continuous training program has also been implemented to help develop local talent and enhance workforce skills.

Bernard Fokou and his Fobert Group are not stopping with this factory. The company plans to invest an additional CFA15 billion between 2025 and 2026 to further strengthen its infrastructure and better serve the market’s needs.

A New Era for Coca-Cola in Gabon

Fobert Group’s rise in Coca-Cola production marks the end of Sobraga’s 25-year run as Coca-Cola’s local partner in Gabon. In 2022, The Coca-Cola Company ended its partnership with Sobraga, a subsidiary of the French group Castel, as part of a broader shift. The contract for bottling in Cameroon, for example, was awarded to Gracedom Invest, a company owned by Jacqueline Dogmo.

The inauguration ceremony was attended by Brice Oligui Nguéma, Gabon’s transitional president, underscoring the strategic importance of the project for the country. The event also comes on the heels of a turbulent period for the Fobert Group, which faced a public health scandal at the end of 2024 that strained its relations with the Gabonese authorities. But with this new chapter, the company seems poised for a smoother future and a closer partnership with the Gabonese government.

Source: Business in Cameroon

In 2024, Bamenda, the capital of the North-West region, saw an inflation rate of 3.5%. This is notably lower than the national average of 4.7%, according to the National Institute of Statistics (INS). As a result, Bamenda is one of the three cities least affected by inflation in the country, alongside Garoua (3%) and Ngaoundéré, the capital of the Adamaoua region.

However, other cities experienced higher inflation rates in 2024. Maroua saw the biggest increase, with inflation hitting 7%, followed by Douala at 5.1%. Buea, the capital of the South-West region, as well as Bafoussam and Ebolowa, each recorded an inflation rate of 4.7%. Buea has been particularly impacted by the ongoing socio-political crisis that began in late 2016, which has had significant effects on its economy.

The INS attributes these regional differences in inflation to factors such as varying transportation costs, differences in product availability, and the specific challenges posed by local supply chains.

Source: Business in Cameroon

Cameroon’s annual inflation rate dropped to 4.5% in 2024, following two years of sharp price increases, according to a January 21 report by the National Institute of Statistics (INS). The figure came in lower than the 7.0% inflation rate initially forecasted by the INS for 2024.

Earlier projections had warned of higher inflation due to a fuel price hike on February 3, 2024, which was expected to drive up costs for transportation, food, and manufactured goods. “The inflation rate is likely to reach around 7.0% by the end of 2024, following the direct and indirect effects of the fuel price adjustment,” the INS had noted in its 2023 inflation report and 2024 outlook.

The slowdown in 2024 marks a significant improvement compared to 2023, when inflation was 7.4%, and 2022, when it reached 6.3%. During those years, rising prices for food and transportation had fueled inflation. In contrast, 2024 saw more stable prices, thanks in part to a 0.2% drop in the cost of furniture, household items, and cleaning supplies, as well as stable costs in communication, education, recreation, and culture.

While inflation has eased, it remains above the 3% benchmark set by the Central African Economic and Monetary Community (CEMAC), which includes Cameroon, Central African Republic, Congo, Gabon, Equatorial Guinea, and Chad. The government, however, remains optimistic about bringing inflation down to the 3% target by the end of 2025.

To meet this goal, the INS advises authorities to continue expanding energy and road infrastructure and improving access to agricultural production areas. “These measures should ensure a stable and affordable supply of food throughout the year. Without such efforts, rising prices could continue to severely impact household purchasing power,” the INS warned.

Despite the progress in 2024, the effects of inflation in recent years have taken a toll on household budgets, especially for essential expenses. Efforts to address these challenges will remain crucial in the year ahead.

Source: Business in Cameroon