Cameroon advances financial reforms and revenue mobilization strategies

Cameroon is advancing significant fiscal and financial reforms aimed at strengthening state revenue and modernizing its economic landscape. As part of preparations for the 2027 Finance Law, the Directorate General of Customs and the African Regional Centre for Endogenous and Community Development (CRADEC) are discussing measures to curb revenue leakages. Proposed reforms include the creation of a single national taxpayer database by interconnecting records from Customs, the Directorate General of Taxation, the National Social Insurance Fund, and the Single Window for Foreign Trade Operations.

Additional proposals focus on increasing transparency regarding beneficial ownership to identify individuals controlling complex corporate structures. Efforts are also being directed toward strengthening cross-border financial controls, particularly in the extractive and forestry sectors.

Parallel to these customs reforms, the government is implementing the National Strategy for the Development of the Financial Sector (SNDSF) with a goal to transform Cameroon into a modern financial hub by 2030. This strategy, launched by Finance Minister Louis Paul Motaze, aims to increase the financial sector's contribution to GDP from 3% to between 7% and 10%. Key initiatives include establishing a mortgage refinancing fund to address housing deficits, creating a guarantee fund management company to support SMEs, and improving debt recovery through a credit information bureau.