J S Afana

How to Start a Business in Cameroon J S Afana

Thinking of starting a business in Cameroon? This guide will give you information on the country and its economy, the most prominent sectors for investment, how to set up a startup or franchise and a detailed step by step guide on how to register your business (Ministries, requirements, documentation, prices, time frame etc) and set it up successfully. Why Cameroon?Known as Africa in Miniature, Cameroon is one of the most beautiful countries of the African continent. Full of resources and diversity, Cameroon remains the largest economy of CEMAC (Economic and Monetary Community of Central Africa). This advantage is also due to its demography (a little more than 20 million inhabitants), area (475 440 km2), geographical situation and diversified economy (agriculture, oil, gas, etc.). Plenteous are the business prospects available in Cameroon. This youthful country is thick with untapped resources and opportunities. So now is a perfect time to enter this market. Cameroon is a country full of possibilities for investment, with a stable currency, a bilingual workforce, and a GDP real growth rate of 5.9% as of 2015, as supposed to 5.6% in 2013. The key contributors to the economy's growth are agriculture, tourism, and the manufacturing sector. Agriculture in Cameroon is one of the biggest employers of the workforce. The country is known for its commercial cultivation of crops such as bananas, oil palms, tea, cocoa, sugar crops, coffee and tobacco. Fishing and livestock farming are also major contributors to the economy. According to reports by the United Nations, Africa is one of the most profitable regions in the World and Cameroon aims to capitalise on this with its various reforms and unlocked resources.