(Business in Cameroon) – The government has published the 2023 Extractive Industries Transparency Initiative (EITI) report, confirming that Cameroon collected 1 035.85 billion CFA francs from extractive companies, alongside a series of reforms intended to improve revenue tracking and sector governance.
The report, released on December 10 in Yaounde by the acting Minister of Mines, Industry and Technological Development, Professor Fuh Calistus Gentry, marks the country’s second publication since its suspension and the seventeenth issued under the initiative. It was presented ahead of the 31 December 2025 deadline. Officials highlighted that total payments made by extractive operators amounted to 1 232.69 billion CFA francs, with the bulk of this channelled into the state budget. The findings appear at a moment when five industrial mining projects, including Minim Martap and Grand Zambie, are preparing to enter full production, positioning the sector for increased fiscal contributions.
According to the report, the extractive industries accounted for 4.2% of GDP in 2023 and represented 32% of national exports, while employment supported by the sector rose from 0.58% in 2022 to 0.62% in 2023. Investments in the sector also expanded, reflecting adjustments in legislation and the introduction of more advanced extraction systems.
A key reform is the adoption of production-sharing arrangements in the Mining Code, requiring companies to remit between 9.5% and 12% of revenues to the state upon commencing production. Technological upgrades, including the use of closed-circuit extraction systems, have been introduced to improve monitoring of production volumes and strengthen transparency. The report also notes administrative progress, including the formalisation of employment contracts for staff at the EITI Permanent Secretariat.
Presenting the report, Professor Fuh Calistus Gentry stated that the initiative “is very important for our industry which has just started”, adding that “the 2023 report demonstrated the advances made by the State in terms of legislation and technology so that the sector is more transparent”. He said that the measures taken positioned Cameroon to regain its place within the EITI and to meet all compliance requirements.
Representatives of civil society welcomed the progress while encouraging continued efforts to develop a business climate capable of attracting more investors and expanding employment opportunities. They also called for improved communication with communities on government initiatives and on the use of revenues from mineral exploitation.
The 2023 findings place the extractive sector at the centre of Cameroon’s economic plans, particularly as new mining operations move closer to production, potentially increasing export earnings and fiscal inflows.
With extractives already contributing nearly a third of export revenues and reforms tightening oversight of corporate payments, the government anticipates a stronger link between sector performance and public finances. The expansion of production-sharing mechanisms and modernised extraction technology provide additional levers for revenue assurance. As the country works towards full reinstatement within the EITI, comparisons with regional peers underscore the value placed on transparency standards, investor confidence and long-term sector stability.
Mercy Fosoh
