CAMEROON
HR Outsourcing Solutions
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About Cameroon
Page Last Updated: 28/05/2024
Situated in the heart of Central Africa, Cameroon presents a promising landscape for business ventures with its diverse economy and strategic location. From the bustling urban centres to the vast natural resources spread across its terrain, Cameroon offers ample opportunities for growth and expansion. However, tapping into this potential requires a thorough understanding of local regulations, customs, and market dynamics. At Africa HR Solutions, we specialise in assisting companies seeking to establish or expand their presence in Cameroon.
Gross Domestic Product (GDP): $53.21 B
GDP Growth: 4.3%
Inflation: 5.9%
Foreign Direct Investment (% of GDP): 2.1%
Unemployment Rate: 3.78%
Capital: Yaoundé
Currency: Central African CFA franc (XAF)
Languages: French, English
Cameroon Payroll at a Glance
Currency
Central African CFA franc (XAF)
Income Tax
11% – 38.5%
Employer Taxes
4.2%
Employee Contribution
N/A
Fiscal Year
1 January – 31 December
Date Format
dd/mm/yyyy
- Cameroon is often referred to as “Africa in miniature” because of its diverse geography, which includes beaches, deserts, mountains, and rainforests.
- Cameroon is one of the few countries in Africa with both English and French as official languages, reflecting its colonial history with Britain and France.
- Cameroon boasts over 250 ethnic groups, each with its own distinct traditions, languages, and customs.
- Cameroon is one of the largest producers of coffee and cocoa in Africa, with these crops being significant contributors to the country’s economy.
- Kondre is one of the two national dishes of Cameroon, consisting of plantains, tomatoes, onions, spices, and meat such as beef, goat, chicken, or pork.
- New Year’s Day
- Youth Day
- Good Friday
- Labour Day
- Ascension Day
- National Day
- Assumption of Mary
- Eid al-Adha
- Prophet’s Birthday
- Christmas Day
Employment in Cameroon
All employees are permitted vacation, sick and parental leave. Indefinite-term contracts can be terminated at any time by an employer, with a notice period which requires approval by the Ministry of Labour. Any employee who has worked for a minimum of two years receives severance pay, which is also determined by the Ministry of Labour. As far as taxation is concerned, all employees have to pay income tax at rates ranging between 11% and 38.5%.
If your company is looking to attract and retain leading talent in Cameroon, whether local nationals or expats, Africa HR Solutions’ legally compliant and cost-effective employment outsourcing and payroll services will enable you to fast-track your growth and market-entry strategy, whilst ensuring that employee benefit packages are competitive and in line with market expectations.
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