(Business in Cameroon) – Cameroon attracted $799 million in foreign direct investment (FDI) in 2023, according to the 2024 report on global FDI by the United Nations Conference on Trade and Development (UNCTAD), released on June 20, 2024. This amounts to CFA 490 billion at the current exchange rate.
UNCTAD data from 2018 to 2023 shows a 15.87% decrease in FDI for Cameroon compared to 2022, when the country received $926 million (CFA 567.8 billion). The report does not specify the reasons for this decline, but it can be attributed to a slowdown in infrastructure projects following the 2022 Africa Cup of Nations.
In 2023, Cameroon recorded its lowest FDI since 2020, a year marked by the COVID-19 pandemic, which disrupted global investments. After the pandemic, FDI in Cameroon had increased, reaching $964 million (CFA 591.5 billion) in 2021 and $926 million (CFA 567.8 billion) in 2022.
Within the CEMAC region (Cameroon, Congo, Gabon, Equatorial Guinea, Chad, and CAR), Cameroon ranked third for FDI in 2023, behind Gabon and Chad. While FDI in Cameroon decreased, Gabon saw an increase of $46 million, and Chad experienced a surge of nearly $300 million.
In detail, Gabon received $1.15 billion (CFA 706.3 billion) in FDI in 2023, up from CFA 678 billion in 2022. Chad’s FDI rose from $614 million (CFA 376.8 billion) in 2022 to $913 million (CFA 560.3 billion) in 2023.
