Investing In... 2026

CAMEROON TRENDS AND DEVELOPMENTS Contributed by: Zangue Serges Martin, Brandon Ntahdui and Joël Noussie, Zangue & Partners

Resilience to external and internal challenges Over the years, Cameroon has had to navigate mul - tiple crises that have shaped its socioeconomic and political landscape – including, but not limited to: • the riots during the 2025 presidential election period; • the ongoing crises in the Northwest and Southwest regions of the country; • the security threats in the northern part of the country due to Boko Haram; and • the fire disaster at the country’s lone oil refinery ( Société Nationale de Raffinage SONARA). In addition, exogenous factors continue to weigh on the economic environment – both at the interna - tional level, with the ongoing conflicts in Ukraine and the Middle East disrupting global supply chains and affecting energy and commodity markets – and at the regional and sub-regional levels, where persistent geopolitical tensions, declining hydrocarbon prices and political instability further compound existing vulnerabilities. In response to these challenges, the CEMAC regional authorities and Cameroonian government have taken measures to further secure the legal environment for the benefit of the sub-region and Cameroon, respec - tively, including actions identified as priorities for implementation to attract foreign investors. These measures include: • the progressive alignment of national legislation with the new CEMAC Community Directives, both in terms of income and profit taxation and with respect to tax procedures, with a view to promot - ing regional harmonisation and fiscal competitive - ness; • the continued strengthening of environmental taxa - tion, in line with Cameroon’s international commit - ments; • enhancement of the energy supply through the commissioning and completion of the Nachtigal hydroelectric dam and the commencement of con - struction of the Kikot hydroelectric project; and • restoration of the financial balance within the elec - tricity sector through the implementation of reforms designed to ensure the financial sustainability of

• strengthening the energy supply and restoring the financial equilibrium of the electricity sector; • developing transport infrastructure; • implementing the integrated Plan for Agropastoral and Fisheries Import-Substitution; • implementing the Initial Impetus Programme; • putting in place effective mechanisms for social protection and promoting youth employment; • strengthening social cohesion and the decentrali - sation process; • monitoring security throughout the country and implementing the Presidential Plan for the Recon - struction and Development of regions affected by security crises, in particular the Northwest, South - west and Far North regions; and • consolidating strategic public enterprises. Political climate The political landscape in 2025 was mainly defined by the presidential elections held on 12 October 2025. Following the vote, the Constitutional Council pro - claimed on 27 October 2025 the re-election of the incumbent President for a new seven-year term. This announcement sparked a series of protests and claims in several parts of the country, reflecting a legitimacy crisis (as perceived by a segment of the population) with respect to the existing political sys - tem. However, the situation has since shown signs of calming down, owing to the intervention of public authorities and the call for a national dialogue. During his swearing-in ceremony on 6 November 2025, the President of the Republic acknowledged the major challenges facing the country and reaffirmed the government’s commitment to implementing prior - ity actions aimed at: • strengthening national cohesion; • addressing economic and social difficulties; • improving the business climate; and • fostering investment to stimulate economic growth. The next major electoral event, namely, the organisa - tion of legislative and municipal elections, is sched - uled for 2026.

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