Cameroon: power of diversity.

The economy

Cameroon, which is often described as 'Africa in miniature' has a very wide diversity of physical forms, flora and fauna. The landscape varies from dense tropical forest, through savannah type grasslands and semi-desert in the north. It is centrally located in West Africa and borders on Central Africa. It has a 200km coastline, important for fisheries, tourism and as an outlet for its neighbouring landlocked countries.

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Until the discovery and production of oil in 1978, agriculture was the mainstay of the economy, accounting for 32% of GDP in the late 1970s. With oil quickly becoming the main foreign exchange earner, agriculture suffered a period of neglect and although it has shown recovery over the past five years, forms 21% of GDP today.

The production of oil in Cameroon has had a chequered history. Output reached a peak of 164,000 barrels per day (bpd) in the mid 1980 but then declined steadily until the late 1990s when the development of marginal fields led to a brief recovery. High expectations of new exploitable fields failed to materialise and as the existing fields matured, production continued to decline. In 2005, average production was 85,000 bpd. In 2004, Cameroon's oil reserves were estimated at around 400m barrels.

However, the country's oil sector received a massive boost when, in 2002, the International Court of Justice resolved a long-standing dispute with Nigeria over the sovereignty of the oil-bearing Bakassi peninsula. Nigeria withdrew from the peninsula in 2006 opening up new, potentially rich oilfields. Cameroon's gas reserves, estimated at around 4 trillion cubic feet, have not yet been exploited. The country is projected to earn $550m over 28 years from royalties accruing from a subterranean oil pipeline from Chad to the oil terminal at Kribi port.

The mining sector contributed 4.3% to GDP in 2004 but it is still the largest foreign exchange earner, realising $1.1bn in 2003.

Manufacturing contributed 20% of GDP in 2004. Most manufacturing is concentrated around the processing of agricultural goods and raw materials and assembly of imported components. In the 1990s, with state-owned companies performing poorly, the government embarked on an expanded programme of privatisations but the largest single state company, the Cameroon Development Corporation (CDC) remains in state hands.

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Cameroon is diversifying its exports despite many obstacles. The government and the private sector agree that Cameroon's exports earnings rely too much on primary products. Without the oil revenues, Cameroon's trade balance would be in deficit.

In 2005, Cameroon exported 6,434m tonnes of goods, with a value of $2.99bn, a fall of 6.8% in volume terms and a rise of 20% in value terms, compared to 2004. Five products account for 71.4% of the export receipts in 2005: oil (43.8%), sawn timber (11.8%), cocoa beans (7.4%), raw cotton (4.6%) and aluminium ingots (3.8%).

This reliance on the export of primary commodities is dangerous as the prices of these products are dependent on international markets. This directly affects local producers' revenues. This was particularly noticeable in the cocoa and coffee sectors, where a fall in the world price of these commodities affected local incomes and led to a decline in the quality and the quantity of their production.

It is vital to identify and target new markets for all of Cameroon's potential exports. Asia would seem to be the ideal region. Since 2000 China has become a significant trade partner, underpinned by the four visits of President Paul Biya to the country. In the bilateral plan, China is the first trade partner of Cameroon in Asia and was the third most important exporter to Cameroon in 2005.

The EU remains Cameroon's main export market, earning CFA931bn ($1.8bn) and taking 67% of its exports. Within the EU, Spain accounts for 19% of Cameroon's exports, followed by France (12.4%) and Italy (11.5%).

Whilst Central Africa is the principal customer of Cameroon's manufactured goods, Cameroon remains the largest importers of raw materials from West Africa, amounting to 29% of all the country's imports. Imports are primarily made up of crude oil from Nigeria for the national refining company and bauxite from Guinea for Alucam which smelts it into aluminium for local and foreign markets.

Cameroon at a glance

Government:              Republic, multiparty presidential system
Head of State:           President Paul Biya (since 1982)
Prime Minister:          Ephraim Inoni (since 2004)
Administration:          10 provinces
Political capital:       Yaounde
Commercial capital:      Douala
Population:              16.3m (comprising of more than 250 ethnic
                         groups)
Population growth:       2.04%
Literacy (over 15 years  79%
of age):
Religions:               Animist, Christian, Muslim
Official languages:      English, French
Major towns:             Nkongsamba, Maroua, Garoua, Bafoussam, Bamenda

Economic indicators*

                                       2004      2005      2006
                                       estimate  estimate  forecast

GDP at market prices ($m)              14,268    15,049
Real GDP growth (%)                         3.5       3.7       4.1
Oil production ('000b/d)                   89        82
Exports (fob) ($m)                      2,696     3,183     3,283
Imports (fob) ($m)                     -2,451    -2,484    -2,526
Current account balance ($m)              237.6     132.7     175.6
Reserves (exl. gold) ($m)                 829     1,059
Total external debt ($m)                9,202     9,234
External debt-service ratio, paid (%)      12.5      11.4

* Source: Economist Intelligence Unit

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Key factors

** There is a strong national identity

** There is freedom of the press

** Religious freedom has allowed the proliferation of multiple faiths

** A strong political opposition is represented by numerous political parties

Agriculture: rich in potential

Cameroon's varied climate and landscape allows many crops to thrive. Practically all tropical food crops can be grown. These include: rice, maize, sorgum, millet, manioc, yam, potato, banana, onion, pineapple, pawpaw, mango, citrus fruits and melon. Cash crops include: cocoa, coffee, tea, ginger, sugar cane, pepper, palm oil, and cotton.

As in most African countries, agriculture is the main economic activity of the people, providing employment for well over half the population and accounting for 20% of GDP. Revenue generated by the agriculture sector accounts for 55% of export earnings (compared to 30% for hydrocarbons).

However, in tandem with other West African oil producing countries, this sector has generally been left to its own devices and there has been a marked lack of significant investment in it by the government.

But the situation is set to change. The government's near-term policy is to ensure food security by 2015. Emphasis will be placed on both food and cash crop development.

The Ministry for Agriculture and Rural Development's (Minadar) strategy for the rural sector is to increase the annual production of food crops by 7% and cash crops by 6%. It is estimated that CFA538bn will be required to kick start the sector.

Provided the right policies are implemented and investments made, the agriculture sector could become a major catalyst in accelerated economic growth.

Out of 9.2m hectares of arable land, only 1.8m hectares are currently cultivated. Of around 240,000 hectares of irrigated and irrigable land, only 33,000 hectares have been developed.

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In Cameroon, much of the agricultural activity is subsistence based rather than market driven. The size of farms seldom exceeds two hectares. According to Minadar, only 13% of the rural population cultivate an area larger than five hectares.

Despite this, Cameroon just about meets its food needs, except for cereals such as rice, maize and wheat which are imported. Produce from Cameroon, like market vegetables and fruits are highly prized in the sub-region, with trucks from Gabon, CAR and other neighbouring countries constantly making their way directly to rural farms to buy produce.

Given Cameroon's central geographical position, there is considerable scope to increase agricultural exports to neighbouring states but excessive bureaucracy and police formalities act as a disincentive and the lack of storage facilities means that there are considerable harvest losses.

These shortcomings are similar to those in other African countries, but where they have been tackled, the results in output, quality and marketability have been impressive. The country's agricultural sector, therefore, has considerable untapped potential.

At plantation level, bananas are produced by the French company Plantations du Haut Penja (PHP), sugar by Sosucam (Sondia), tea by Cameroon tea estate (CTE, South African Co), the latex, used for the production of natural rubber, by Hevecam (with an Indonesian shareholder). For cotton there is a partnership between Sodecoton, which treats and sells the fibre, and the local producers. Palm oil is cultivated by small producers who then supply the large processing factories like Socapalm (Fabri/Bollore). Cocoa and coffee production have suffered with many former growers turning to subsistence agriculture.

The government sees the development of the rural economy as a pivotal measure in its campaign to reduce poverty. Palm oil is much in demand not only for human consumption but also as feed stock for numerous soap factories in the sub region; and there is a plan to double the national output of plantain (1,5m tonnes per annum). Cameroon exports exotic fruits as well as flowers to Europe and some vegetables for the African diaspora in Europe and the US.

In the agro-industrial sector, latex still plays a major role because of the international market trends favourable to rubber. The success of Cameroon's banana exports to Europe will depend on terms contained in the Agreement of Economic Partnership (APE) with the European Union in 2008. A variety of white pepper from Penja, whose cultivation remains a secret has found favour with international chefs and therefore might interest foreign investors.

Fighting the desert with Gum Arabic 

Not only is cotton becoming less profitable it also impoverishes the soil, whereas gum arabic regenerates the depleted soil by fixing nitrogen by its roots. In addition, its leaves are used as fodder and its wood as fuel. It could also be the answer to the problems of desertification..

In 1997, Agrocom, in partnership with marketing company Cexpro, began the commercial development of gum arabic in Cameroon. An experimental plantation was established with Canadian support. Previously, the gum was primarily harvested wild.

Gum Arabic, a gelling and stabilising raw material is in high demand the world over. Current demand is around 50,000 tons per annum. It is used in the pharmaceutical, cosmetic, textile, food and printing industries. The largest producers are Sudan, Nigeria, and to a lesser extent Burkina Faso and Chad. Cameroon's production remains very marginal at present.

Cexpro, which began its activities 13 years ago, exports around 500 tons of Cameroonian gum arabic a year. According to its director, Mana Toukour, Cameroon could export up to 5,000t a year.

Cocoa and coffee at a standstill

The liberalisation of the cocoa and coffee industries in 1994 seemed to accentuate the decline of this sector. Coffee production fell from 120,000 tons per annum during the 1980s to the current 47,000 tons.

During the 2005/2006 season, only 165,000 tons of beans were collected. A development fund for cocoa and coffee, financed by the state and international financial backers was created in March 2006. The authorities want to increase the current production of cocoa to 320,000 tons by 2015 and to double coffee harvests. The objective is to also improve the quality, to provide a better price to the producers and to re-establish the Cameroon brand worldwide.

The Interview

African Business interviews Etoundi Oyono, the General manager of the Douala Port Authority.

African Business: Please outline improvements at the Douala Port Authority since you took up the post of general manager.

Etoundi Oyono: We have stabilised the situation and now have healthy finances. We have even been able to increase our employees' incomes by giving them a bonus worth four months wages. To achieve this, we had to follow rigorous management programme which initially caused some pain, but we are now back on track.

African Business: There have been some rumours concerning the transparency of the container terminal contracts. What is your view?

Etoundi Oyono: One cannot prevent those who did not win from wingeing. The decision was actually taken by a committee and all the stages of the process were validated by the World Bank. We are delighted to have the most modern container terminal in Africa. The contract went to the Maersk Group, the leading container operator in the world.

African Business: There are complaints that the port's tariffs are too high.

Etoundi Oyono: I don't agree that the tariffs are too high. We are the only port on the African West coast to have a 50km channel. The channel needs to be dredged and can only be done with the use of modern equipment and technology. So we cannot be compared to the ports of Cotonou, Libreville or Malabo. They are deepwater ports. They do not require the same level of expenditure. Our running costs are higher, but Douala port has been able to reduce some of its tariffs on comparable services.

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The World Bank has requested that countries like Cameroon should hand over some of their port activities, like container terminals, towing, piloting and transit facilities to the private sector. The private sector operators fix their own prices. So it is their pricing policies which should be queried, not the DPA.

African Business: In order to be more competitive, would it not be better to control the tariffs applied by the private sector?

Etoundi Oyono: The concept of competitiveness, in my opinion, is a false concept. Douala is not Cotonou. However, people want to keep comparing us and implying they are cheaper. The price of fuel fluctuates each year. Labour costs go up with the cost of living. When prices increase in Europe, why it is that we are expected to live with it? Why is it that we are expected to absorb the costs?

I believe that each port should adjust its prices according to its local costs. The standards of living vary from country to country. Benin does not have the same standards of living as Cameroon and Cameroon does not have the same standards of living as Gabon. Nobody has yet managed to set up a convincing study of real comparative costs.

African Business: Why have port managers for Limbe, Kribi and Garoua still not been named?

Etoundi Oyono: The ports of Kribi and Limbe do not have any harbour infrastructures of an acceptable level. Before we nominate general managers with high salary expectations, we are going to build the infrastructure. As for the port of Garoua, it is a river port, on the banks of the Benoue river in an area of Cameroon where it hardly rains. It is a seasonal port which functions only in times of rain, which lasts three months. By separating Garoua from the other ports, we are recognising its specificity and optimising its management. The employees would work and be paid for a shorter period rather than the whole year. This option demonstrates our realistic management approach.

African Business: The Port of Douala is ideally placed to serve the whole Central Africa region. Unfortunately, it seems to have reached its saturation point and that it is the most expensive port on the West African coast. What is your investment strategy over the next years to make DPA competitive?

Etoundi Oyono: The port of Douala can play a bigger role. With the creation of new duty free zones, Douala is becoming an attractive trading hub. Each country in the hinterland now has its own space within the port of Douala. Countries like Central African Republic and Chad will take care of their own harbour activities and the port of Douala will receive only royalties. These measures are linked to flexible customs procedures to facilitate trade and they will function autonomously within the port of Douala.

We are modernising the port and making it more secure by building an enclosure equipped with surveillance cameras. We are also putting in place radars that will allow us to monitor up to 30km of the channel. New storage facilities are being built to replace the old and overcrowded stores. The port will be equipped with garages to repair trucks in bad condition which come from Chad and CAR. We are setting up a harbour infrastructure which hopefully will satisfy everybody.

The lighting of the channel by placing and operating beacons is being undertaken by a French company, Mobilis. We want it to become a well lit highway by night. The channel will be systematically dredged to a depth of 10 metres with state of the art equipment and practices.

Please come back in four to five years to see the fruits of our labour.

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Outlook for the economy in 2007

The Cameroonian economy in 2007 is expected to grow by 4% on the back of strong international prices for its main export commodities, oil cocoa, timber, coffee and cotton.

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*The primary sector should record a growth of 3.9%, fuelled by growths in the forestry (4.7%) and agriculture (4.3%) sectors. Reforms leading to better management of forestry development and increased output, as well as greater domestic demand in food products will contribute to this growth. The investments in industrial crops should also show positive results.

*The secondary sector will grow by 3.4% against 3.2% in 2006. The slowing down in the rate of growth in this sector should be compensated by growth in the manufacturing and construction industries. With increased electricity supply from the Limbe thermal power station, the production of aluminium is set to get a boost while programmes to expand public housing will underpin construction.

*Growth in the tertiary sector is expected to be 4.4% compared to 3.7% in 2006. It will be primarily fuelled by the transport, warehousing, communications, trade, restaurants, hotels and service industries.

*Public spending will remain the principal motor of growth. It accounts for 77.8% of the GDP; it is expected to increase by 3.3% over 2007, reflecting a rise in recurring expenses.

*Investments, following a remarkable growth of 20.2% in 2006, will scale down to 7.8%.

*Exports are expected to grow at 4.3% whilst imports will increase by 5.6%.

Privatisation: a tool for economic revival

Much can be gained by privatisation, says Aminou Bassoro, the president of the state's Technical Commission for Privatisation. In Cameroon, he believes, privatisation puts an end to state grants to unprofitable companies, stimulates private initiatives, restores free market mechanisms, mobilises private investments and improves productivity.

"In the hotel sector, for example, privatisation can contribute to kick-starting tourism again," explains Bassoro.

Prime Minister Ephraim Inoni commissioned a report on the revival of the tourist sector with the aim of attracting half a million visitors; the report concluded that a way forward was to privatise state-owned hotels.

Cameroon's government believes that the privatisation of state-owned companies can play its part in the fight against poverty, although this stance is often questioned by public opinion as privatisation has sometimes led to the deterioration of public services and major job losses.

Although a large number of companies have been placed into the private sector, Bassoro stresses that the state has always taken care to be fully transparent and to safeguard national interests.

The privatisation procedure begins with a feasibility study carried out by a major merchant bank. Based on this study and the advice of the bank, the government adopts a tender strategy. This is perceived as essential to avoid some of the previous failures that occurred in the privatisation of the national water company, Cameroon's telecommunication company and some subsidiaries of Cameroon's Development Corporation.

Privatisation also makes it possible to set up a more attractive investor climate whilst preserving the interests of the consumer. The state can make a financial gain from the process of privatisation, as was the case in the telecom sector, but this is not the primary objective as the example of the privatisation of Cameroon Airlines demonstrates, where the liquidation process actually cost the government money.

The privatisation commission automatically protects the national interest. Land, for example, always remains in state hands: "In the case of agricultural processing industries which exploit important land areas, the state decided not to cede ownership of the land but to make it available on special lease terms."

Bassoro is keen to stress that "the state takes great care to avoid the implementation of social plans resulting in the dismissal of personnel of the privatised company". Although that is true in principle, the reality is sometimes different. The most recent case was that of Camtel, where the state, pushed by international backers, determined post-privatisation manpower requirements and dismissed 500 employees before the deal had even been concluded.

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Previously, more than 1,000 agents suffered the same fate during the privatisation of Cameroon's postal services. In the case of Cameroon Airlines, 1,300 employees lost their jobs. According to the trade unions, 10,000 jobs have been lost due to the privatisation of state-owned companies since 1994.

But there are measures to safeguard the national interest. The state reserves a significant part of the shareholding while between 5%-10% of the shares is often reserved for employees at a reduced rates--and between 20% and 30% of shares are reserved for national investors. The stock market facilitates the trading of these shares and ensures the transparency of the transactions.

Tourism

All of Africa in miniature

Cameroon has a cultural heritage that makes it a fascinating destination even if, currently, there appears little political will to make sufficient investments in the tourism sector. Yet Cameroon is a peaceful and stable country that is the envy of many other countries.

Its rich tapestry of cultural heritage stems from the country's 250 different ethnic groups that add to the wealth of experience the country offers.

Sometimes described as 'all of Africa in one country' Cameroon has a truly diverse environment ranging from the Sahel in north to the rainforests of the southeast, the lush green mountains of the west and white sandy beaches south of Douala.

National parks such as Waza and Lobeke, and nature reserves like Dja and Mt Cameroon support flora and fauna of a bewildering variety.

Good food completes the tourist experience; it is said that the nbest African restaurants in Europe are Cameroonian!

The Ministry of Tourism (Mintour) has coined the phrase 'a miniature Africa' as its slogan. Cameroon remains a well-kept secret. Its tourism target is to attract half a million visitors a year--the 2004 arrival figures show that there were approximately 350,000 international visitors in that year.

According to Jacqueline Hennuy of the Cameroon Horizon travel agency, the number of 'true' tourists is very much smaller, perhaps no more than 5,000.

"My clientele averages 200 people per year. There are a dozen similar agencies to mine so the numbers come to around 2,400, without counting independent travellers."

Created some 10 years ago, this local agency offers tours in the north of the country and to the two seaside resorts of Kribi and Limbe. Clients are mainly European, American, Canadian and Japanese tourists.

With the demise of national carrier, Cameroon Airlines, Cameroon has had to increasingly depend on Air France. But the French airline's high ticket prices create a barrier to developing a viable tourism industry. For example, the price of a ticket from Paris to Yaounde would pay for a one-week package holiday in Kenya.

Tourism could however significantly contribute to Cameroon's economy.

Neglect of the tourism sector

Until the 1990s, the country was a highly desirable African destination. A national company, Nordcamtour, ensured the promotion and the organisation of the tourist circuits. Cameroon Airlines aircraft, packed with tourists, served the north of Cameroon, but the privatisation of the airline and the emergence of new tourist destinations in Africa and Asia heralded the decline of the sector. Chantal Lewat, president of the Employers' Federation of Industry, Hotel Trade and Tourism notes:

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"We had many products but they were left in the dust." There are 22,000 hotel beds, but the hotels are often small and lack professional management.

Created in 1990, the Ministry for Tourism portfolio has often been entrusted to opposition politicians, which indicates the importance that tourism holds in national politics.

Many observers feel that the current tourism minister, Hamadou Baba, given the means would be delighted to start rebuilding the industry, but Mintour's budget is just one-fifth of that allocated to Senegal's tourism ministry.

Many of the problems that bedevil Cameroon's tourism industry are created by other ministries. A particular problem is that of visas, all too often the only source of revenue for overseas embassies. Discrepancies and inflated visa pricing mean that tourists are often confronted by tourist visa fees varying from [euro]85 to [euro]200.

The lack of a decent road network, excessive immigration and police formalities all contribute to a negative image of the country. Despite the creation of the National Council for Tourism in 1999, progress has been slow even though there have been many expressions of interest from investors who seem prepared to back this sector.

There is however a silver lining to all these problems. Cameroon has retained a certain African authenticity which, it might be argued, is in danger of disappearing in countries with more developed tourism industries such as Senegal, Kenya and South Africa.

Cameroon would be wise to ensure it retains this authenticity even as it further develops its tourism industry so that a real African adventure can be offered to future visitors.

Chefferies

On the road of the Cameroonian chefferies

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A unique asset for Cameroon is its chefferies, the French term for traditional chiefs. They are the custodians of traditions that offer the visitor a glimpse of culture and folklore. The most famous cheffery is Bamoun in Foumban in the western region. Its history dates back to the 16th century and is organised around the Sultan and his court.

The festival of Ngon, where the king is judged by his subjects, is a real treat for tourists. This event takes place every two years. Sumptuous costumes are worn by the Bamoun people and their guests. Monumental bronzes, the traditional art of the area, are also on display.

Travelling around the country to visit the many chefferies of the west (Bamenda, Bandjoun, Bafut) also leads to the discovery of a splendid mountainous and agricultural area. The temperate climate is very pleasant.

The north offers horseracing events known as 'Fantasias'. The nomadic horsemen invaded north Cameroon in the 18th century. Before their arrival, people lived in organised chefferies.

Oudjilla is known for "its king with 40 women" and its small round boxes hung on the mountain side. The landscapes of the north are strikingly different to those of the green west, and Rumsiki' granite columns are one of the country's most striking landscapes.

Chefferies co-exist alongside the country's modern civil administration. Their authority has adapted so that they now serve as an intermediary between the people and the state. They also preserve the cultural and religious traditions of their regions.

China, US loosen French grip

Heralded as an historic event by Cameroon's president, Paul Biya, the country pulled out all the stops to welcome Chinese President Hu Jintao in January. There were spectacular military displays, banquets and official receptions, cultural performances, and a massive mobilisation of the population who enthusiastically greeted the visiting Chinese president.

"We are deeply honoured to receive the Head of State of one of the largest countries in the world, heir to a prestigious civilisation, and whose influence in international affairs is considerable," President Paul Biya commented.

The Chinese leader's response was no less impressive. Hu Jintao signed no fewer than eight agreements with Cameroon, including the cancellation of bilateral debt, the construction of hospitals and schools and financial assistance in developing telecommunications.

This is the first visit to Cameroon by a Chinese Head of State in 36 years. Significantly it is also widely seen as ending an era that viewed France as the omnipotent foreign power in Cameroon. It was previously assumed that no other country would ever exert similar influence in the country.

But in November 2006, Biya clearly stated his preference for the new type of international co-operation which China represents when he said:

"Our sincere wish is that it can give fresh impulse to the promotion of Chinese investment in Africa, in particular in the agricultural and mining sectors. We also hope to see this Chinese involvement being accompanied by real technology transfers adapted to African realities."

Valentin Zinga, a respected editor working for the independent press, says that although China does not have the same sort of international clout that France and the US have in, for example, lending their support to the HIPC initiative, it is "prepared to offer concrete help without interfering in the internal affairs of the country".

Yaounde wants to deepen ties with China. It has been encouraged by the Asian country's readiness to reschedule sovereign debt, the generous terms of its infrastructure construction contracts, as well as China's offer of loans at preferential rates.

China's diplomatic ascendancy is not the only change Cameroon has experienced in international relations. Since the appointment of Niels Marquardt as US ambassador to Cameroon, there is a sense that Washington is having a greater say in the country. Marquardt has been forthright in asking for an improvement in Cameroon's business climate and the fight against corruption.

Low ebb for French--Cameroon relations

The erosion of France's diplomatic influence reached a new nadir in 2003 when Cameroon then a non-permanent member of the UN Security Council, refused to follow France in its public opposition to the Iraq War. As US bombs began to fall on Baghdad, Biya was received at the White House by a delighted George W Bush.

These diplomatic links have been strengthened whilst France's image has weakened, the old colonial power seen as the paternalistic champion of an obsolete political order holding onto policies that are the exact opposite of those held by China. France's status is also challenged by Cameroon's membership of the Commonwealth, an organisation whose principals are to champion the democratic process.

France's influence also suffers from the strong role the World Bank plays in the country's economy. During recent privatisation programmes conducted on the advice of the Bretton Woods institutions, France lost several coveted contracts because of the rigorous procedures imposed by the IMF in selecting suitable bidders.

Some years ago, the transfer of the public telephone company to a French group was cancelled because of questions over the privatisation procedure. Many highly coveted former state-run companies have been sold off to South African and US interests and the extractive resources sector has been taken over by non-French foreign interests, mainly US and Chinese.

Yet, France's economic muscle is still very impressive. France is Cameroon's largest trading partner--there are some 200 French companies in the country operating in all sectors of the economy and these have created tens of thousands of jobs. In terms of development aid and debt write-offs, France remains the largest contributor to Cameroon's economy.

France continues to be very influential in the decision-making processes in Cameroon, particularly in military matters and technical assistance.

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