Tag Archives: Cameroon Tribune

Concerns about the 2014 Financial Law of the Republic of Cameroon – Chofor Che, published by, 18 Decembe 2013

The 2014 financial law for the Republic of Cameroon was adopted by the National Assembly on Sunday the 8 of December 2014. It was the first time that the Senate of Cameroon, mentioned in the 1996 Constitution as the Second Chamber, but installed in mid 2013, took part in the deliberation and adoption of this very important law of the State. This contribution thus attempts to give an analysis of this financial law.

The 2014 budget stands at 3312 billion Frs. CFA as against 3236 billion Frs. CFA in 2013. There has thus been an increase of 76 billion Frs. CFA. According to some fiscal analysts this increase is justifiable because the state needs to pay 25000 newly recruited youth into the civil service. These analysts add that the State equally has to remunerate newly elected and appointed Senators as well as traditional rulers. A journalist like Godlove Bainkong in an article in Cameroon Tribune dated the 12 of December 2013 is of the opinion that this budgetary rise is because the state has to increase energy production especially as the population still suffers from heavy power shortages. He further argues that it is thus vital for the State to finalise construction on gas plants, hydro electric dams, as well as hasten investment in rural electrification. The putting into place of these investment projects is expected to enable the State to electrify over 500 localities in the next three years.

Many Cameroonians are concerned about where the money to finance these projects is going to come from. According to Josiane Tchakonte in the same edition of Cameroon Tribune dated the 12 of December 2013, money is going to be gotten from revenue sourced from petroleum and non petroleum products. In 2014, the State expects the National Hydrocarbons Corporation to pump in 546 billion Frs. CFA. Revenue from non petroleum sources is projected at 1985 billion Frs. CFA. 1240 billion Frs. CFA is to be sourced from taxes, 658 billion Frs. CFA is to be gotten from customs duties. These internal sources of revenue are to make up 80 per cent of the State’s budget for 2014. Concerning other finances the State expects 609 billion Frs. CFA in 2014 as against 574 billion Frs. CFA in 2013. 55 billion Frs. CFA is expected as foreign aid.

A careful assessment of Cameroon’s financial law of 2014 shows that the State has decided to remain more of a consumer economy rather than a producer economy. There is no serious zeal by the State to revamp the private sector. Rather than allocating a lot of money in paying salaries for 25000 newly recruited youth into to the civil service, it is germane for the State to encourage the creation of small and medium size enterprises for the employment of youth and women. It is germane to hasten the State’s industrialisation process. It is not healthy for a State to rely heavily on revenue from petroleum products, taxes and custom duties, especially as a great chunk of this revue is siphoned by corrupt state officials. It is thus important for the State to rethink its economic planning strategy especially in the financing of investment projects. 2015 is around the corner and the State is still leap forging in the attainment of the Millennium Development Goals.

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Posted by on December 19, 2013 in Africa Development


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Cameroon Ranks 115th in Global Economy Competitiveness, By Godlove BAINKONG, Cameroon Tribune, 8 September 2013

Cameroon is ranked 115th in the 2013-2014 Global Competitiveness Report that assesses the competitiveness landscape of 148 economies, providing insight into the drivers of their productivity and prosperity. The report, the 34th edition, published recently shows that the country has dropped three places from the 2012-2013 report in which it was classified 112 of the 144 economies surveyed.


The set of institutions, policies and factors that determine the level of productivity of a country through which its competitiveness is measured in the report include, institutions (legal and administrative framework within which individuals, firms and governments interact to generate wealth), infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labour market efficiency, financial market development, technological readiness, market size, innovation and business sophistication.


The country’s report card shows a 3.68 score out of the overall 7 points under consideration. The report notes in descending order that the most problematic factors of doing business in the country are corruption, access to financing, inadequate supply of infrastructure, tax regulations, inefficient government bureaucracy, tax rates, poor work ethics in national labour force, theft and crime as well as inadequate trained workforce, among others. Poor performance were recorded in international internet bandwidth where it is placed 146th, internet access in schools (135th) as well as strength of auditing and reporting standards (132nd position of the 148 economies). Her best performance however came from setting up business wherein the country is classed 30th of the 148 economies surveyed. Significant strides were also recorded in government’s budget balance (40th position), general government debt (15th spot) as well as government’s procurement of advanced technical products (38th position).

South Africa is a lead economy in Africa on the 53rd spot down from 52nd in the last edition. The 2013-2014 report notes that South Africa’s social sustainability is undermined by high income inequality and youth unemployment.

Chad leads the chart from the underside on 148th spot down from 139th position it occupied in the previous report. Meanwhile, Switzerland, Singapore, Finland, Germany, USA, Sweden, Hong Kong, Netherlands, Japan and United Kingdom respectively occupy the first ten positions.

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Posted by on September 9, 2013 in Africa Development


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