Cameroon has activated its new investment incentives framework following the issuance of Ordinance No. 2025/002 of July 18, 2025, now fully in force after its ratification as Law No. 2025/015 on December 17, 2025.
The Investment Promotion Agency (IPA) formalised the implementation through a circular dated March 18, 2026, notifying public enterprises, approved companies and investors of the operationalisation of the revised regime. The measure is designed to improve the business climate, ensure project execution capacity, and support economic growth and employment creation.
Under the new law, both new and expansion projects are eligible for incentives across eight priority sectors: agriculture, livestock farming and fisheries; heavy industry, automotive and manufacturing; water and energy; health and education; air, rail and maritime transport; tourism and leisure; large-scale distribution infrastructure; and digital data storage and processing infrastructure.
Access to incentives is not automatic. Under Article 6(2) of the Ordinance, investors must submit documentation covering four areas: a local skills development and technology transfer programme; a plan prioritising the recruitment of Cameroonian workers; a commitment to using local subcontractors and contractors; and proof of sufficient financial capacity to fund all estimated investment costs.
Investors currently operating under a previous incentive regime retain their existing benefits for the duration of their agreement, with no amendments permitted in the interim, under Article 47(1). They may, however, apply to transition to the new framework for the remainder of their initial regime, provided they meet the required conditions and do not simultaneously claim benefits under both regimes. Any such transition requires prior verification by the competent authority of how previous incentives were used.
The circular introduces an annual reporting obligation. Approved companies must submit activity reports on their approved investment projects to the IPA no later than March 31 each year, with the first deadline set for March 31, 2026. Late or missing submissions will attract a fine of 1 million CFA francs per month of delay.
The updated framework introduces administrative adjustments aimed at reducing delays in issuing documentation required for investment projects, while reinforcing compliance monitoring through mandatory reporting.
For investors already present in Cameroon, the March 31 reporting deadline is now an immediate operational requirement. For those assessing entry, the eight priority sectors and the documentation requirements define the conditions for eligibility under the new framework.
Mercy Fosoh
