(Business in Cameroon) – Cameroon signed a letter of intent for forest protection during the Hamburg Sustainability Conference on October 8, 2024. This commitment is part of a strategic partnership with the Central African Forest Initiative (CAFI). Together, they aim to mobilize significant financial resources for forest preservation.
Under this collaboration, Cameroon and CAFI plan to raise a total of $2.5 billion (over CFA1,500 billion) by 2035 to support Cameroon’s transition to green economic growth. It aligns with the country’s National Development Strategy for 2020-2030 (SND30) and complements the Central Africa Forest Commission (COMIFAC) convergence plan for sustainable management of African forest ecosystems from 2015 to 2025.
So far, $60 million (over CFA36 billion) has been secured for the initial phase of this partnership, which will last until 2027. This initial funding, managed by the CAFI Fund, is crucial for launching several key projects aimed at preserving Cameroon’s forest ecosystem.
According to the Ministry of Economy, Planning, and Territorial Development, during this pilot phase, Cameroon will implement five major projects. These projects will focus on strengthening agricultural supply chains and improving the capacities of local development actors. The country aims to protect nearly 18 million hectares of its permanent forest domain from deforestation, which accounts for 39% of its national territory. Cameroon also plans to support over 300,000 producers in the cocoa and coffee value chains. The government will also develop national plans for agro-industrial sectors, mining, metallurgy, and forestry, along with various initiatives that directly impact rural communities and enhance land management.
Some operational projects include the Grand Mbam Integrated Land Management Project, support for the Cocoa and Coffee Development Fund (FODECC), the operationalization of the South platform for financial and digital instruments for tropical forests (FIDIFOR-SUD), and the Private Sector Investment Framework (Regional Window). The Minister of Economy, Alamine Ousmane Mey, appointed by President Paul Biya to coordinate this partnership, is committed to overseeing these initiatives through the relevant ministries.
Central Africa is home to the world’s second-largest tropical rainforest, which absorbs about 1.5 billion tons of CO₂ equivalent, accounting for 4% of global emissions each year. This forest also provides habitat for over 10,000 plant and animal species. However, forest loss is accelerating, as government action alone has not effectively balanced forest interests with economic development needs. A coalition of donors, including the European Union (EU), Germany, Norway, France, the United Kingdom, South Korea, the Netherlands, Belgium, and Sweden, along with partner countries in Central Africa, established a collaboration partnership to create CAFI. This unique initiative promotes high-level political dialog and pooled financing to support ambitious reforms and on-the-ground investments.
Cameroon signed the CAFI joint declaration in 2015 but had not yet signed a letter of intent as a foundation for broader commitment. This letter will help Cameroon comply with the European Union Deforestation Regulation (EUDR). This regulation aims to ban the marketing of products linked to deforestation or forest degradation after December 30, 2020. It covers seven commodities: coffee, cocoa, rubber, palm oil, soy, beef, and timber, along with certain derivatives like leather, charcoal, and printed paper. Initially set for December 2024, the European Commission proposed delaying the EUDR’s enforcement by one year, now scheduled for December 30, 2025, with an extension until June 30, 2026, for small businesses.
