Unleashing Private Sector Growth
Despite stable growth, prudent macroeconomic policies, political stability, and a favorable natural resource endowment, Cameroon has neither achieved economic transformation nor entirely fulfilled the leadership role in Central Africa that its size, relative complexity, and geographical position should grant it. Unleashing the potential of private sector-driven growth could help fulfill its promise.
Recognizing the potential that private sector-driven growth has to transform the economy, the Cameroon Country Private Sector Diagnostic (CPSD) examines opportunities and constraints on the basis of three key pillars: rethinking the public-private balance in enabling services, strengthening select agribusiness value chains, and exploiting the potential of a growing urban economy.
The CPSD provides recommendations that could increase private investment, contribute to growth, and support better living conditions for Cameroonians. Concerning the public-private balance in enabling services, the CPSD highlights the role played by large SOEs and the need to continue reforms to increase private investments and improve access to essential physical and digital infrastructure. In the agribusiness sector, the CPSD points to the benefits that diversification would have, suggesting a more targeted focus on select value chains. As for the urban economy, the ongoing urbanization trend offers significant opportunities to develop services such as education, housing, and retail, for which there is unmet demand.