Cameroon
Payment Methods
Market overview
Cameroon, a member of both the Economic and Monetary Community of Central Africa (CEMAC) and the Economic Community of Central African States (ECCAS), embodies resilience and potential within Africa’s economic landscape. Despite experiencing steady but gradual growth over the past two decades, the nation stands poised for accelerated development.
Projections indicate promising prospects, with Cameroon’s real gross domestic product (GDP) growth forecasted to reach 4.0% in 2022, further surging to 4.6% by 2024, defying global economic uncertainties. In digital payments, Cameroon showcases a trajectory of advancement, with the total transaction value expected to exhibit a robust annual growth rate (CAGR 2024-2028) of 13.52%. By 2028, the total transaction value is anticipated to soar to USD 9,273.00 million.
Mobile money payments
Bank cards payments
Bank account payments
Mobile money
Cards
Proportion of population making digital payments on a weekly basis
75%
Proportion of population making digital payments on a daily basis
28%
Trade exchange
Export (2019)
China
Netherlands
Italy
United Arab Emirates
India
United States
Belgium
Spain
France
Imports (2019)
China
Nigeria
France
Belgium
Reserves of foreign exchange and gold
31 December 2018 est.
USD 3.197 billion
31 December 2017 est.
Payment methods breakdown
Cash
Mobile money
USSD
SIM Toolkit
African Development Bank Group – Cameroon
Afriland First Bank
Banque Atlantique Cameroun
Banque des Etats de lAfrique Central (BEAC)
CitiBank Cameroon
Commercial Bank of Cameroon
Ecobank (Cameroon)
Highland Corporation Bank
National Financial Credit Bank S A
Societe Generale des Banques au Cameroun(SGBC)
Standard Chartered Bank
Union Bank of Cameroon (UBC)
