Considered a lower middle-income country, Cameroon is bordered by the Central African Republic, Chad, Equatorial Guinea, Gabon, and Nigeria. It is rich in natural resources such as oil, gas and mineral ores, produces high-quality timber and its agricultural outputs include coffee, cotton, cocoa, maize and cassava. Digitalisation in Cameroon’s economy is boosting several sectors and leading to tremendous investment opportunities.
Organisations entering new emerging markets need to address complex legal, cultural and labour-related matters and are increasingly contracting with reputable partners for the purposes of outsourcing local business processes, including employment outsourcing solutions where there is a requirement to employ and payroll staff in-country, Collaborating with a specialist for the delivery of the HR outsourcing solutions required provides ultimate peace of mind.
If you expanding into Cameroon and require assistance with a range of legally compliant employment outsourcing solutions such as Professional Employer Organisation (PEO), Employer of Record, payroll, together with a range of ancillary support services, Africa HR Solutions has the necessary experience and Cameroon HR outsourcing track record to facilitate your expansion plans.
Country Profile - Cameroon
Gross Domestic Product (GDP): $45.24B
GDP Growth: 3.5 %
Inflation: 2.3 %
Foreign Direct Investment (% of GDP): 1.7 %
Unemployment Rate: 3.9 %
Currency: CFA Franc
Languages: French, English
Cameroon’s economy is largely dependent on exporting products such as oil, gas, timber, and agricultural commodities such as cocoa and coffee. Its largest trade partner is the European Union, followed by countries including China, Malaysia, the United States, Nigeria, and Chad. Some bilateral trade agreements have been signed and several Foreign Trade Zones (FTZs) are maintained. The country’s membership in the Commonwealth and Franc Zone are aimed at facilitating trade. With the aim of improving the business environment, the World Bank continues to support Cameroon’s development in several sectors such as energy, transport and telecommunications. Other initiatives to provide greater access to public services through infrastructure development are also being implemented to build a modern Cameroon.