The ongoing Financial Governance Support Project (PAGFI 3) has inventoried the assets held by the State within Cameroonian public enterprises. As of the end of 2024, these assets are valued at 1,507.3 billion FCFA. This inventory is part of an effort to identify, value, and integrate the assets and liabilities of the State and other public entities into the public accounts. This approach aims to improve the country's budgetary and asset transparency.
These assets are distributed among 49 public enterprises, of which 35 are 100% state-owned and 14 have shared ownership. The 100% state-owned enterprises are companies with fully public capital, while the others are mixed economy companies (SEM) in which the State holds a majority or minority stake.
The inventoried assets are divided into two categories: non-financial assets and financial assets. Non-financial assets include administrative buildings, infrastructure, roads, equipment, intangible assets, inventories, land, and other physical assets. Financial assets include equity investments, loans and advances, receivables, as well as cash and deposits.
At the same time, the indebtedness of public entities is an important element to consider. According to data from the Caisse Autonome d'Amortissement (CAA), public enterprises and public administrative institutions had a combined debt of over 1,000 billion FCFA as of December 31, 2024.
The direct external debt of public enterprises and institutions is estimated at 493.9 billion FCFA. This amount includes supplier and operating debts of Sonara (Société Nationale de Raffinage) and Camair Co (Cameroon Airlines Corporation), which account for 96.1% of the total external debt of public entities. The debt of these two companies paints a picture of the financial difficulties encountered in the key sectors of energy and air transport.
The Cameroonian government, with the support of PAGFI 3 financed by the French Development Agency (AFD), is working to strengthen public finance management. The objective is to improve budgetary credibility, financial information and control of risks related to public enterprises. A third session of the PAGFI 3 steering committee was held on February 25, 2026, in Yaoundé, highlighting the importance of this project for Cameroon's financial future.
The consolidation of these data, both in terms of assets and liabilities, is crucial for the management of public finances, particularly in a context where debt sustainability is under close scrutiny. The government aims for certification of the State's accounts by 2030.
