• (Business in Cameroon) – Issa Tchiroma Bakary, presidential candidate, said Cameroon should only abandon the CFA franc once it regains productive strength and economic prosperity.
• His plan calls for large-scale agricultural expansion, ten special economic zones, and investment in digital infrastructure to build monetary sovereignty.
• Analysts warn that weak productivity, bureaucratic delays, and fragile business conditions may undermine the feasibility of this strategy.
Issa Tchiroma Bakary, candidate of the National Front for the Salvation of Cameroon (FSNC), called for a measured transition from the CFA franc, days ahead of the October 12 presidential election. Speaking on Équinoxe TV, he argued that “currency cannot precede prosperity; it must reflect it.”
Tchiroma warned that an abrupt rupture could trigger rapid devaluation, soaring inflation, and investor flight. He therefore proposed a transitional phase to rebuild the country’s productive base and strengthen the capacity of the Bank of Central African States (BEAC) before considering an autonomous currency.
The candidate’s program centers on reviving national production and diversifying foreign exchange sources to underpin monetary sovereignty.
He pledged to irrigate one million hectares and boost local processing of cocoa and cotton, aiming to make agriculture a sustainable driver of foreign currency earnings.
Tchiroma also proposed creating ten special economic zones across Cameroon, designed to attract private investment in petrochemicals, textiles, and electronics. These zones would benefit from tax incentives and infrastructure, following Ethiopian and Moroccan models.
Additionally, he pledged fiscal reform, the creation of a sovereign wealth fund financed by oil revenues, and stronger national reserves.
A third axis of his plan focuses on digital and infrastructure modernization. Tchiroma vowed to expand fiber optics, deploy 5G, and promote e-governance to enhance competitiveness, curb corruption, and integrate the informal sector via mobile finance.
He also highlighted investment in roads, electricity, and technical training to align employment with production.
Despite its ambition, the program faces deep structural barriers. Cameroon’s agricultural productivity remains low, industrialization is slowed by bureaucracy, and the fiscal system is not yet attractive for private investors.
Execution risks also loom large. Major public projects often suffer delays, reforms advance slowly, and the business climate remains fragile. Analysts caution that such weaknesses could hinder the speed and depth of the promised recovery.
The timeline also raises questions. A 10-year strategy requires political stability, budgetary discipline, and long-term vision that extends beyond electoral cycles. Without sustained momentum, Tchiroma’s conditional exit from the CFA franc could become a perpetually deferred goal.
This article was initially published in French by Idriss Linge
Adapted in English by Ange Jason Quenum
