Housing Finance in Cameroon
Overview
This profile is also available in French here.
To download a pdf version of the full 2023 Cameroon country profile, click here.
Cameroon’s natural resources include oil, gas, minerals, and precious wood. In recent years, Boko Haram has attacked it. Arab herders and Musgum fishermen and farmers fought over natural resources, torching 19 villages and abandoning over 40. More than 500 000 people have been displaced, and 400 civilians and 200 security forces have died. In Cameroon, the resurgence of the CAR crisis in 2021 has caused social ripples.
COVID-19 also caused a 2020 economic downturn. The government lockdown halted many construction projects, affecting the housing industry. GDP growth accelerated in 2021 to 3.5% from 0.5% in 2020 due to non-oil activity and continued investment. Fiscal consolidation measures designed to reduce spending and increase non-oil fiscal revenues reduced the fiscal deficit to 3.1% of GDP in 2021 from 3.3% in the two previous years. Price controls on essentials kept inflation at 2.5% in 2021, down from 2.4% in 2020.
Cameroon’s Department of National Meteorology has partnered with the WMO and the Global Water Partnership to help farmers adapt to climate change. People who live in informal settlements are more likely to get malaria and diarrheal diseases because of more rainwater, floods, and poor sanitation.Climate change raises regional temperatures faster than global averages. The UN says 80% of farmland is degraded and Lake Chad has shrunk by 95%.
Between 2007 and 2014, 8.1 million people became poor. Population growth and insufficient poverty reduction explain this. 2011 urbanisation was 52.2%; 2021 urbanisation was 58.2%. Security, population growth, housing, and jobs drive urbanization. Poor families can’t access state social housing. The cheapest housing costs CFA 17 million (US$28,745), and administrative procedures are often corrupted because allocation information is not public. One in eight households could buy a state-built home by 2020. Only households with incomes over CFA 200,000 (US$318) can buy a home. In cities, a three-bedroom house costs CFA5 million (US$7,937).Many urban homes are unaffordable.
In a country with 15 commercial banks and 800 microfinance institutions, bank financing is the main housing source. CFC (Credit Foncier du Cameroun) finances social construction.Cameroon’s CFC promotes social housing. In 2019, the CFC financed 1,223 housing units and 54 building lots with CFA 21.7 billion (US$34.5 million) in loans. Provisional success rate: 105%. CFC helps overseas Cameroonians. Between 1990 and 2021, the diaspora received 286 loans totaling $30.6 million. The main loan recipients are Cameroonians in Europe (58%), America (34%), and Africa (18%). First-quarter CFC loans totaled CFA11.9 billion (US$18.9 million), up 95% from the previous half-year. CFC held 45% of the credit-to-financial-institutions market in the first half of 2020. Alios Finance Cameroon (29%) and Société Camerounaise d’Equipement (16.9%) support the public bank.
Cameroon’s wealth and economy make it an economic power. Rising urban housing demand offers investment opportunities in real estate. Real estate agencies for rental investment management and real estate development companies for housing construction, sales, and management are both opportunities.
Find out more about information on the housing finance sector of South Africa, including key stakeholders, important policies and housing affordability:
- Overview
- Access to Finance
- Affordability
- Housing Supply
- Property Markets
- Policy and Legislation
- Opportunities
- Availability of Data on Housing Finance
- Green Applications for Affordable Housing
- Websites
Each year, CAHF publishes its Housing Finance in Africa Yearbook. The profile above is from the 2023 edition, which has up-to-date profiles for 55 African countries.
Download yearbookCameroon
Overview
Cameroon is a middle income country with a population of more than 25 million in 2019. It shares its borders with the Central African Republic, Gabon, Equatorial Guinea, Nigeria and Chad.[1] The regions bordering Nigeria (northwest and southwest) are English-speaking and the rest of the country is French-speaking. Cameroon is endowed with natural resources (oil and gas, minerals and precious woods) and agricultural resources (coffee, cotton, cocoa, maize and cassava).[2] In recent years, it has been the target of attacks by the Boko Haram group in the far north. This area also saw violent attacks over natural resources between Arab herders and Musgum fishermen and farmers, leaving 19 villages torched and over 40 villages abandoned.[3] These attacks have had a devastating impact. More than 45 000 people have become refugees, an estimated 1.5 million are in need of humanitarian assistance and more than 3 000 people have been killed in the crises, including more than 1 000 civilians.[4] In addition, a separatist movement in the English-speaking regions has been threatening the unity of the country for the past five years.[5] Since September 2017, more than 500 000 people have been internally displaced, with nearly 400 civilian casualties, and more than 200 deaths among the security forces.[6] All these conflicts have dire consequences for the housing sector: not only do these conflicts exacerbate poverty as livelihoods are impacted, they also cause mass destruction of housing located in these unstable areas. The resurgence of the crisis in the Central African Republic in 2021 also has significant social repercussions in Cameroon. More than 6 000 Central Africans have taken refuge in the Eastern region (60% of the refugees in Cameroon). According to the United Nations Refugee Agency, Cameroon hosted more than 460 000 refugees in 2022, mostly Central African (320 000) and Nigerian (120 000).
Politically, there have been modest improvements in political rights and civil liberties, but without a transition of power. This trend of autocratic state governance limits political, economic and social reforms aimed at improving people’s living conditions and thereby access to affordable housing for all. Although the country has maintained positive economic growth and moderate macroeconomic conditions, it is facing significant problems given the slowdown in economic activity in the English-speaking regions and the suspension of production at the SONARA oil refinery.[7]
In addition, in 2020, COVID-19 led to a significant deterioration in the economic situation. These disruptions have also affected the housing sector as many ongoing construction works were put on hold due to the lockdown imposed by the government. However, the country is trying to recover after this difficult period: gross domestic product (GDP) growth accelerated in 2021 to 3.5% against 0.5% in 2020, following the revival of non-oil activity and continued investment. The fiscal deficit narrowed to 3.1% of GDP in 2021, from 3.3% in the previous two years, thanks to fiscal consolidation measures aimed at reducing spending and increasing non-oil fiscal revenues. In addition, inflation was contained and remained at 2.5% in 2021, compared to 2.4% in 2020, due to a system of price controls on basic necessities.[8]
More recently, the war in Ukraine has raised the threat of famine in the world with the conflict disrupting the global production and marketing of wheat and maize. These disruptions are leading to global inflation and supply limitations that have been observed in various ways, including in Cameroon. The industrial producer price index recorded an increase of 15% in the first quarter of 2022, compared to the same period in 2021: the prices of raw materials of agricultural origin, especially cereals, rose sharply, leading to an increase in production prices in the agri-food industry (+8.5%). This crisis also resulted in a surge in the prices of oil and natural gas, with producer prices rising by more than 30% in one year.[9]
Climate change is causing temperatures in the region to rise faster than the global average. The United Nations estimates that 80% of farmland is degraded and that the surface of Lake Chad has decreased by up to 95%.[10] As Cameroon is dependent on its natural resources, which also provide a livelihood for most of its population, climate change is fueling conflict in the country.[11] In the cities, increased rainwater, floods and sanitation have become a major public health concern, with Malaria and diarrheal diseases having a major impact on people living in informal areas.[12] To deal with the conflict in the rural north, Cameroon’s Ministry of Transport, through its Department of National Meteorology, has partnered with the World Meteorological Organization and the Global Water Partnership, Central Africa to help farmers adapt to climate change as part of the country’s National Climate Change Adaptation Plan. A primary strategy is to use a gender transformative approach to better involve women in the associated agriculture and climate training.[13]
[1] BTI Transformation Index (2022). Cameroon Country Report 2022. https://bti-project.org/en/reports/country-report/CMR (Accessed 26 August 2022).
[2] World Bank (2022). The World Bank in Cameroon – Overview. https://www.worldbank.org/en/country/cameroon/overview (Accessed 25 August 2022).
[3] UNCHR (2021). Climate change fuels clashes in Cameroon that force thousands to flee. United Nations High Commissioner for Refugees. https://www.unhcr.org/news/stories/2021/9/6138fac74/climate-change-fuels-clashes-cameroon-force-thousands-flee.html (Accessed 10 October 2022).
[4] BTI Transformation Index (2022). Cameroon Country Report 2022. https://bti-project.org/en/reports/country-report/CMR (Accessed 26 August 2022).
[5] UNCHR (2021 Climate change fuels clashes in Cameroon that force thousands to flee. United Nations High Commissioner for Refugees. https://www.unhcr.org/news/stories/2021/9/6138fac74/climate-change-fuels-clashes-cameroon-force-thousands-flee.html (Accessed 10 October 2022).
[6] BTI Transformation Index (2022). Cameroon Country Report 2022. https://bti-project.org/en/reports/country-report/CMR (Accessed 26 August 2022).
[7] BTI Transformation Index (2022). Cameroon Country Report 2022. https://bti-project.org/en/reports/country-report/CMR (Accessed 26 August 2022).
[8] African Development Bank Group (2022). Cameroon. https://www.afdb.org/en/countries/central-africa/cameroon (Accessed 20 August 2022).
[9] Institut National De La Statistique (INS) (2022). Note sur l’évolution des prix à la consommation finale des ménages à Douala en Juillet 2022. https://ins-cameroun.cm/wp-content/uploads/2022/08/Note-sur-les-prix-a-Douala-en-Juillet-2022-ok.pdf (Accessed 20 August 2022). Pg. 1.
[10] UNCHR. (2021). Climate change fuels clashes in Cameroon that force thousands to flee. United Nations High Commissioner for Refugees. https://www.unhcr.org/news/stories/2021/9/6138fac74/climate-change-fuels-clashes-cameroon-force-thousands-flee.html (Accessed 10 October 2022).
[11] World Bank (2021) Climate Change Overview – Country Summary. Cameroon. https://climateknowledgeportal.worldbank.org/country/cameroon (Accessed 10 October 2022).
[12] African Development Bank Group. (2022 ). Climate change poses a health challenge in Cameroon. 6 September 2022. https://www.afdb.org/en/news-and-events/climate-change-poses-health-challenge-cameroon-54559 (Accessed 10 October 2022).
[13] WMO (2021). Adapting to Climate Change in Cameroon – Gender aspect a key concern. World Meteorological Organization. December 2021. https://public.wmo.int/en/resources/meteoworld/adapting-climate-change-cameroon-%E2%80%93-gender-aspect-key-concern (Accessed 10 October 2022).
Access to Finance
The country has 15 commercial banks and more than 800 microfinance institutions, but the main source of housing finance is bank financing. However, there is a public financial structure responsible for financing social construction projects for individuals, called Crédit Foncier du Cameroun (CFC). The CFC is a financial institution set up to promote social housing throughout the Cameroonian national territory. In 2019, the CFC carried out a major financing activity for the housing sector through the agreement of more than 450 loans for an amount of CFA21.7 billion (US$34.5 million), intended for the financing of more than 1 223 housing units and 54 building lots for a provisional achievement rate of the objectives 105%.[1] In addition, the CFC also supports Cameroonians in the diaspora. Indeed, the diaspora benefited, between 1990 and 2021, from 286 loans valued at more than CFA19.3 billion (US$30.6 million).[2] The main recipients are Cameroonians living in Europe (58% of the total amount of loans), living in America (34%), or living elsewhere in Africa (18%).[3] According to Bank of Central African States (BEAC) data, the CFC ended the first quarter of 2020 with loans of CFA11.9 billion (US$18.9 million), an increase of 95% compared to the previous half-year.[4] Similarly, in the first six months of 2020, the CFC dominated the market for the supply of credit to financial institutions with 45% of the market share. The public bank is supported by Alios Finance Cameroon (29%) and the Société Camerounaise d’Equipement (16.9%), while the smaller PRP-PME represents 8.4% of the market share.[5]
For private residential financing, any individual can take out a mortgage in Cameroon, provided they pay a deposit of at least 5% of the value of the property and meet certain eligibility conditions defined by lenders. For banks, any individual who holds a checking account and has deposited his income in the bank in question is eligible. In addition, it is possible to benefit from a second mortgage. Given that only 28.3% of adults have a bank account in 2021,[6] workers in the informal sector and a large part of the medium and low income population obtain housing finance from microfinance institutions. To allow poor households to benefit from mortgage loans at lower interest rates, the government, through the Finance Law of 2018, has exempted mortgage registration fees for microfinance activity. Banking services are not readily available outside large urban areas. Less than 15% of the population had access to financial services in 2020.[7] Microfinance institutions and mobile money meet the need for small-scale savings and borrowing. To increase the financing of the economy, the government set up a Guarantee Fund dedicated to small and medium enterprises to facilitate access to the most common financing. This fund will make it possible to mobilise specific national, bilateral and multilateral financing to support young entrepreneurs.
[1] Eco Matin (2022). Le résultat net du Crédit foncier du Cameroun augmente de 21% en 2018. https://ecomatin.net/le-credit-foncier-du-cameroun-met-sur-pied-une-plateforme-pour-limiter-r-les-arnaques-foncieres/ (Accessed 5 September 2022).
[2] Eco Matin (2022). Le résultat net du Crédit foncier du Cameroun augmente de 21% en 2018. https://ecomatin.net/le-credit-foncier-du-cameroun-met-sur-pied-une-plateforme-pour-limiter-r-les-arnaques-foncieres/ (Accessed 5 September 2022).
[3] Eco Matin (2022). Le résultat net du Crédit foncier du Cameroun augmente de 21% en 2018. https://ecomatin.net/le-credit-foncier-du-cameroun-met-sur-pied-une-plateforme-pour-limiter-r-les-arnaques-foncieres/ (Accessed 5 September 2022).
[4] Eco Matin (2022). Le Crédit foncier augmente de 95% son volume de crédit à l’économie. https://ecomatin.net/le-credit-foncier-augmente-de-95-son-volume-de-credit-a-leconomie/ (Accessed 5 September 2022).
[5] Eco Matin (2022). Le crédit foncier augmente de 95 % son volume de crédit à l’économie. https://ecomatin.net/le-credit-foncier-augmente-de-95-son-volume-de-credit-a-leconomie/ (Accessed 5 September 2022).
[6] MINFI (2021). The bank is even more in demand in Cameroon. https://minfi.gov.cm/la-banque-encore-plus-sollicitee-au-cameroun/ (Accessed 18 September 2022).
[7] BTI Transformation Index (2022). Cameroon Country Report 2022. https://bti-project.org/en/reports/country-report/CMR (Accessed 26 August 2022).
Affordability
On the socio-economic level, the share of the poor population increased by 12% between 2007 and 2014 to 8.1 million people.[1] This can be explained by high population growth and limited efforts towards poverty reduction. In addition, the percentage of the population that is urbanised increased from 52.2% in 2011 to 58.2% in 2021.[2] Urbanisation is primarily due to the displacement of people for security reasons, but also to population growth and the attraction of cities for job opportunities. Due to civil insecurity and population displacement, around 2.4 million people were found to be severely food insecure in 2021.[3] Similarly, COVID-19 related economic shocks that disrupted trade flows and agricultural practices have increased poverty.[4] In this context, the price of built housing is high compared to the purchasing power of the majority of the poor population. In addition, the ever-increasing demand for housing means that housing prices continue to rise. The rental market is unregulated and open to abuse. Owners set the terms of the rental agreement and may increase the rental charged as they wish and without justification. Owners sometimes charge six to 12 months’ rent as a deposit, which they never repay, while real estate agents charge the financial equivalent of one to two months’ rent as a commission.
Although there are state social housing projects, the conditions of access to this housing generally exclude poor families. The cheapest housing is estimated at CFA17 million (US$28 745)[5] with long administrative procedures often marred by corruption as the information relating to the allocation process is not publicly substantiated and available for scrutiny. As many as one in eight households were potentially eligible for the acquisition of a state-built home by July 2020.[6] Only households with monthly incomes of more than, or equal to, CFA200 000 (US$318) are able to finance the acquisition of their home.[7] Construction costs in cities can reach CFA5 million (US$7 937) for a standard three-bedroom house.[8] This leaves many households without viable housing options in urban areas.
[1] World Bank (2022). The World Bank in Cameroon – Overview. https://www.worldbank.org/en/country/cameroon/overview (Accessed on25 August 2022).
[2] Statista (2021). Cameroon: Urbanization from 2011 to 2021. https://www.statista.com/statistics/446865/urbanization-in-cameroon/ (Accessed 28 August 2022).
[3] The World Factbook (2022). Cameroon. https://www.cia.gov/the-world-factbook/countries/cameroon/ (Accessed 28 August 2022).
[4] INS (2022). Note D’analyse: Indice Des Prix De La Production Industrielle (IPPI). National Institute of Statistics. https://ins-cameroun.cm/statistique/note-danalyse-indice-des-prix-de-la-production-industrielle-ippi-2/ (Accessed 28 August 2022). Pg. 1.
[5] World Bank (2020). Le financement du logement au Cameroun: Vers un logement abordable pour tous. April 2020. https://documents1.worldbank.org/curated/en/358971591000376962/pdf/Financement-du-Logement-au-Cameroun-Vers-un-Logement-Abordable-pour-Tous.pdf (Accessed 28 August 2022). Pg. 50.
[6] Cameroon Radio Television (2021). Logements sociaux: bientôt 3000 nouvelles demeures. 2 March 2021. https://www.crtv.cm/2021/03/logements-sociaux-bientot-3000-nouvelles-demeures/ (Accessed 6 September 2022).
[7] Cameroon Radio Television (2021). Logements sociaux: bientôt 3000 nouvelles demeures. 2 March 2021. https://www.crtv.cm/2021/03/logements-sociaux-bientot-3000-nouvelles-demeures/ (Accessed 6 September 2022).
[8] Niang, M. (2021). Le Prêt Immobilier En Afrique Enfin Accessible Grâce A La Microfinance. 15 April 2021. GIS Groupe. https://www.gis-groupe.com/le-pret-immobilier-en-afrique-enfin-accessible (Accessed 18 September 2022).
Housing Supply
Despite the many efforts made in the public supply of social housing for the past few years, the housing deficit is estimated at 2.5 million in urban areas.[1] To supply social housing, in June 2022, the Cameroon Real Estate Company (SIC) officially received the first materials and other equipment to enable the construction of 10 000 units throughout the country by the Italian company Pizzarotti.[2] In the short term, SIC and Pizzarotti are planning to construct 1 224 dwellings, including 224 social housing units, provide basic public facilities and develop various buildings on an area of 16 hectares.[3] SIC works to provide poor households with affordable housing and currently has a rental stock of 5 329 units. This park consists of 4 598 housing units rented to families, 257 used by the Ministry of Domains, Cadastre and Land Affairs, 427 used by the Ministry of Defence, 28 are for the use of SIC and 15 are disaster victims. However, the company is dealing with unpaid rents to the point where it has initiated the termination of the lease agreement of 452 tenants (approximately 8% of tenants). In addition, the subletting of these dwellings has developed over the years, changing the population and accentuating the difficulties of recovery for SIC.[4]
Private real estate provided by private developers consists of industrial real estate for businesses and residential real estate for households. Financial institutions (banks, insurance companies and the National Social Security Fund) are involved in financing the real estate supply in large cities.
[1] Cameroon Radio Television (2021). Logements sociaux: bientôt 3000 nouvelles demeures. 2 March 2021. https://www.crtv.cm/2021/03/logements-sociaux-bientot-3000-nouvelles-demeures/ (Accessed 6 September 2022).
[2] Mbodiam, B.R. (2022). BTP: le projet de 10 000 logements de l’Italien Pizarotti prend enfin corps, plus de 5 ans après l’accord de financement. 27 June 2022. Investir au Cameroun. https://www.investiraucameroun.com/travaux-publics/2706-18108-btp-le-projet-de-10-000-logements-de-l-italien-pizarotti-prend-enfin-corps-plus-de-5-ans-apres-l-accord-de-financement (Accessed 6 September 2022).
[3] Mbodiam, B.R. (2022). BTP: le projet de 10 000 logements de l’Italien Pizarotti prend enfin corps, plus de 5 ans après l’accord de financement. 27 June 2022. Investir au Cameroun. https://www.investiraucameroun.com/travaux-publics/2706-18108-btp-le-projet-de-10-000-logements-de-l-italien-pizarotti-prend-enfin-corps-plus-de-5-ans-apres-l-accord-de-financement (Accessed 6 September 2022).
[4] Andzongo, S. (2021). La Société immobilière du Cameroun affiche un résultat de 128 millions de FCFA en 2020, en baisse de 81,7%. 26 October 2021. Investir au Cameroun. https://www.investiraucameroun.com/economie/2610-17039-la-societe-immobiliere-du-cameroun-affiche-un-resultat-de-128-millions-de-fcfa-en-2020-en-baisse-de-81-7 (Accessed 6 September 2022).
Property Markets
Cameroon faces many urban development problems particularly in accessing land due to a number of reasons including use of customary land properties and ancestral burial sites. Only 2% of Cameroon’s land is registered and concentrated in urban areas. In rural areas, land is mainly subject to specific land tenure, which has led to conflicts over informal land sales and illegal occupation.[1] Large-scale agricultural investments in rural areas have also led to conflicts with local communities.[2] In urban areas, the most important aspect of the land problem lies in the extremely high and increasing costs. In Cameroon, the price per square meter of land in urban areas generally varies between CFA600 000 (US$953) and CFA1 000 000 (US$1587.3).[3] Due to the land scarcity and high costs there is significant land speculation in urban areas, which drives the prices up further. In addition, the National Agency for Financial Investigation reported that “the Cameroonian real estate market is conducive to money laundering because funds resulting from corruption or embezzlement of public funds are invested massively in real estate, without generally expecting any return on investment”.[4]
[1] Tadjie, R. (2017). Expansion urbaine et acuité des problèmes fonciers au Cameroun. RiA Recht in Afrika. https://doi.org/10.5771/2363-6270-2017-2 (Accessed 7 September 2022). Pg. 9.
[2] BTI Transformation Index (2022). Cameroon Country Report 2022. https://bti-project.org/en/reports/country-report/CMR (Accessed 26 August 2022).
[3] Combien-coûte (2022). Quel est le prix d’un m2 en ville au Cameroun en 2022 ? https://www.combien-coute.net/prixm2-centre/cameroun/ (Accessed 7 September 2022).
[4] Investir au Cameroun (2021). Au Cameroun, le secteur de l’immobilier devient un terreau fertile au blanchiment des capitaux (Anif). 3 February 2021. https://www.investiraucameroun.com/index.php/gestion-publique/0302-15919-au-cameroun-le-secteur-de-l-immobilier-devient-un-terreau-fertile-au-blanchiment-des-capitaux-anif (Accessed 28 August 2022).
Policy and Legislation
The legal system is mixed and based on English common law, French civil law and customary law.[1] The land system was set up by the Ordinances of 1974 and 1977 as well as by Law No. 79/05 of 29 June 1979. In addition to the usual distinction between public and private ownership, there is the national domain, defined as a residual category composed of land that is not the subject of a property right.[2] Land tenure incorporates modern law and traditional customary management, which causes complications with land management, especially in peri-urban areas characterised by rapid growth. In these areas, land is governed by both customary and modern law, and competition for land is fierce. In addition, the land registration system further complicates the process as only 30% of Cameroonian territory has been the subject of official land documentation since the establishment of the land legal framework more than 40 years ago.[3] Thus, the authentication of land rights, which is based on registration, requires a long, expensive and complex procedure despite the relevant reforms undertaken in 2005.[4]
In practice, land registration rates in Cameroon are therefore extremely low and less than 1 000 permits are issued per year.[5] Cameroon ranks 175th out of 190 countries in 2020 in ease of property registration.[6] In Cameroon, individuals and businesses spend an average of 14% of property value during the registration process, compared to an average of 7% in sub-Saharan Africa and 4% in high-income countries.[7]
A number of other problems restrict property rights. The Cameroonian government may expropriate private land from any person or entity for reasons of public interest and this right is used to facilitate major infrastructure projects such as hydroelectric dams and roads.[8] In 2022 the government issued a decree that only regularly registered land can now be the subject of private real estate transfers.[9] This decree is aimed at eliminating double sales and scams, but also protects and enhances the public and private domains of the state and prevents illegal sales and illegal occupation of land under the private domain of the state.
[1] The World Factbook (2022). Cameroon. https://www.cia.gov/the-world-factbook/countries/cameroon/ (Accessed 28 August 2022).
[2] World Bank (2021). Assistance Technique sur la Valorisation du Foncier Urbain pour le Développement au Cameroun. https://documents1.worldbank.org/curated/en/452391605010187958/Overall-Summary-Note.docx (Accessed 28 August 2022). Pg. 3.
[3] World Bank (2021). Assistance Technique sur la Valorisation du Foncier Urbain pour le Développement au Cameroun. https://documents1.worldbank.org/curated/en/452391605010187958/Overall-Summary-Note.docx (Accessed 28 August 2022). Pg. 3.
[4] World Bank (2021). Assistance Technique sur la Valorisation du Foncier Urbain pour le Développement au Cameroun. https://documents1.worldbank.org/curated/en/452391605010187958/Overall-Summary-Note.docx (Accessed 28 August 2022). Pg. 3.
[5] BTI Transformation Index (2022). Cameroon Country Report 2022. https://bti-project.org/en/reports/country-report/CMR (Accessed 26 August 2022).
[6] World Bank (2020). Doing Business 2020 – Cameroon. https://archive.doingbusiness.org/content/dam/doingBusiness/country/c/cameroon/CMR.pdf (Accessed 26 August 2022). Pg. 4.
[7] World Bank (2020). Doing Business 2020 –Cameroon. https://archive.doingbusiness.org/content/dam/doingBusiness/country/c/cameroon/CMR.pdf (Accessed 26 August 2022). Pg. 4.
[8] Nguenda Anya, S.B. (2019). The effects of the demolition of the family housing on child schooling in Cameroon. December 2019. https://doi.org/10.1016/j.jhe.2019.03.005 (Accessed 26 August 2022).
[9] Banga, B. (2022). Assainissement du foncier : les certificats d’abandon des droits coutumiers désormais interdits. 9 February 2022. Eco Matin. https://ecomatin.net/assainissement-du-foncier-les-certificats-dabandon-des-droits-coutumiers-desormais-interdits/ (Accessed 9 September 2022).
Opportunities
The country has abundant natural resources resulting in high-value wood species, consumer agricultural products such as cocoa, coffee, maize, cotton, cassava, sugar and palm oil, and mining opportunities. In Central Africa, due to the diversification of its wealth and economy, Cameroon is classified as the leading economic power in this area.[1] In addition, the country has considerable tourism potential. If well managed, these elements are favourable for the growth of the real estate sector.
The real estate sector presents multiple investment opportunities due to the growing demand for housing, especially in urban areas. These opportunities seem more profitable in the cities of Douala and Yaoundé, but also in the southern, eastern and Adamawa regions where the future exploitation sites of the deep-water port of Kribi, the iron mines of Mbalam and Nkout, the cobalt,[2] nickel and manganese mines of Nkamouna, bauxite of Ngaoundal and many others are located. These opportunities represent several types of services to be provided, such as: establishing real estate agencies for the management of rental investment; real estate development companies for construction, sales and management, and the renovation of housing
[1] Présidence de la République (2022). Présentation du Cameroun. https://www.prc.cm/fr/le-cameroun/presentation (Accessed 24 August 2022).
[2] Nguenda Anya, S.B. and Nzepang, F. (2022). The role of the separation of democratic powers on structural transformation in sub-Saharan Africa. 18 August 2022. https://doi.org/10.1016/j.ecosys.2022.101021 (Accessed 28 August 2022).
Availability of Data on Housing Finance
The National Institute of Statistics, the Ministry of Agriculture and Rural Development and the Ministry of Housing and Urban Development are the main bodies for collecting and managing data respectively at the microeconomic and macroeconomic levels on land and housing in Cameroon.[1] While macroeconomic data is mainly up-to-date, microeconomic data is difficult to find. To promote rational and sustainable management of plots of land in the national, public and private domains in Cameroon, the government, through the Ministry of Domains, Cadastre and Land Affairs has been developing a unique database of digital data since 2016.[2] However, this data are not publically available and it is difficult to assess the evolution of this project. The most recent national household survey and demographic and health surveys were in 2018. The Ministry of Agriculture signed a partnership agreement with the National Observatory of Climate Change in May 2022, to set up a framework for collaboration in the collection, analysis and availability of meteorological and climate data in the agriculture sector in Cameroon.[3] The country has also set up a Quick-Results Initiatives system to improve the disclosure of corporate financial data.[4]
[1] Mpenya Ayamena, H.T. (2022). Rapport sur la Stratégie d’Amélioration des Données Foncières Socio-Économiques Cameroun. March 2022. http://publication.aercafricalibrary.org/bitstream/handle/123456789/3362/ISELDAf004%20Cameroon.pdf?sequence=1&isAllowed=y (Accessed 7 September 2022). Pg. 12.
[2] Amougou, P. (2016). Vers la numérisation de 120 000 titres fonciers au Cameroun. 25 February 2016. Média terre. https://www.mediaterre.org/habitat/actu,20160225162816,6.html (Accessed 7 September 2022).
[3] Investir au Cameroun (2022). Le Cameroun organise la collecte des données météorologiques et climatiques pour booster la production agricole. 23 May 2022. (Accessed 28 August2022).
[4] Agence Ecofin (2022). Cameroun: l’État veut améliorer la publication des données financières des entreprises publiques. 28 August 2022. https://www.agenceecofin.com/gestion-publique/2808-100631-cameroun-l-etat-veut-ameliorer-la-publication-des-donnees-financieres-des-entreprises-publiques (Accessed 28 August 2022).
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Green Applications for Affordable Housing
Buildings are responsible for almost half of the energy consumption and a quarter of greenhouse gas emissions in Cameroon. Similarly, residential housing alone consumes 31% of energy and emits 10% of greenhouse gases.[1] The majority of newly constructed buildings in the country, where the climate is hot and humid, are modeled on constructions designed for Western countries with a cold and temperate climate, which requires the installation of indoor comfort equipment (air conditioning, heating, lighting) which all require large energy consumption.
Although it is difficult to quantify the production of green housing, the number of developers of green housing is constantly evolving. This increase is also due to the fact that the prices of renewable energy technologies have fallen sharply, by around 80% in the last six years. For example, the price of solar panels decreased from CFA3 500 000 (US$5 555.6) per kilowatt to approximately CFA400 000 (US$635). [2]
[1] Essome, M. (2020). L’ONU, 75 ans après: L’habitat, quel type de logement pour nous en 2040? 15 October 2020. Villes & Communes. https://www.villesetcommunes.info/actu-afrique/lonu-75-ans-apres-lhabitat-type-de-logement-2040/ (Accessed 28 August 2022).
[2] Mefenza, M. (2015). Le Cameroun veut promouvoir un habitat écologique et moins ” énergivore “. 28 May 2015. Média terre. https://www.mediaterre.org/afrique-centrale/actu,20150528163308.html (Accessed 7 September 2022).
Websites
Bank of Central African States www.beac.int
Crédit Foncier du Cameroun www.creditfoncier.cm
Afriland First Group www.afrilandfirstgroup.com
Cameroon Real Estate Company (SIC) www.sic.cm
National Institute of Statistics https://ins-cameroun.cm/en/welcome/
Ministry of Urban Development and Housing http://www.minhdu.gov.cm
Mission d’Aménagement et d’Équipement des Terrains Urbains et Rurales https://maetur-cameroun.com/presentation/
