The Cameroonian government has unveiled its strategy to raise CFA1,650 billion (approximately $2.7 billion) to finance its CFA8,816.4 billion budget for 2026. Finance Minister Louis Paul Motazé presented the plan to national and international investors in Douala on February 19, 2026.
Amidst a global economic context marked by geopolitical tensions and market volatility, Cameroon aims to reassure investors of its ability to meet its financial obligations. Motazé emphasized the resilience of the Cameroonian economy, projecting growth of around 4.3% in 2026, supported by the diversification of the productive base and the scaling up of strategic investments. He also stated that the country's debt ratio, estimated at 42% of GDP, remains below the regional convergence ceiling of 70%.
The financing plan relies on a balance between different sources: CFA400 billion expected from the BEAC domestic market, CFA1,000 billion from international markets, and CFA250 billion via direct loans from the local banking sector. A fundraising operation of $750 million (approximately CFA450 billion) was successfully carried out in London in January 2026, demonstrating international investors' confidence in Cameroon's signature.
The Cameroonian government plans to use these funds to clear payment arrears and ensure the continuity of projects under the National Development Strategy (SND30). Discussions are underway with the African Development Bank (AfDB) and ATIDI to establish a credit enhancement mechanism. The Finance Minister also mentioned the possibility of a bond issuance through a public offering on the domestic market.
To diversify its funding sources, Cameroon is considering tapping into diaspora savings and launching thematic bonds (green or social). The goal is to transform state financing into an engine for inclusion and structural transformation.
However, challenges remain, particularly regarding the execution of public expenditure. Payment delays have been observed, with deadlines exceeding 200 days in 2025. The Audit Bench of the Supreme Court assessed the stock of arrears at CFA926.49 billion as of December 31, 2024. The government is working to reduce these arrears and improve the management of public finances.
