Cameroon’s Revised Investment Incentives Framework: Key Considerations for Investors
Cameroon’s Investment Promotion Agency (IPA) has issued operational guidance on the implementation of the country’s revised investment incentives framework, established under Ordinance No. 2025/002 of 18 July 2025 and ratified by Law No. 2025/015 of 17 December 2025.
The IPA has informed public enterprises, approved companies and prospective investors of the procedures governing access to investment incentives, compliance obligations and transitional arrangements under the revised legal framework.
The reform is part of Cameroon’s broader policy objective to strengthen the investment climate by aligning incentives with projects capable of generating sustainable economic value. This includes supporting industrialisation, job creation, skills development and technology transfer, as set out in Ordinance No. 2025/002.
Strategic sectors eligible for incentives
Under the revised framework, investment incentives are available to qualifying projects operating in designated strategic sectors. As defined in the Ordinance, these sectors include agriculture, livestock farming and fisheries; heavy industry, automotive and manufacturing; water and energy; health and education; air, rail and maritime transport; tourism and leisure; large-scale distribution infrastructure; and digital data storage and processing infrastructure.
Both new investment projects and expansion projects may be eligible, provided they meet the conditions established under the legal framework.
Eligibility criteria for investors
Access to incentives is subject to defined eligibility criteria set out in Article 6(2) of Ordinance No. 2025/002. Investors are required to demonstrate:
- a local skills development and technology transfer programme;
- a recruitment strategy prioritising Cameroonian nationals;
- commitments to engage local contractors and subcontractors where applicable; and
- sufficient financial capacity to fully implement the proposed investment project.
These conditions are intended to ensure that approved investments generate measurable local economic impact, particularly in employment creation and capacity building.
Compliance obligations and reporting
The IPA has reinforced compliance obligations for approved companies under the revised regime. Beneficiary enterprises are required to submit annual activity reports on approved investment projects no later than 31 March each year.
Failure to comply with this reporting obligation may result in financial penalties of CFA 1 million per month of delay, in accordance with applicable regulatory provisions.
Transitional arrangements for existing investors
The revised framework provides continuity for investors operating under previous incentive agreements. In accordance with Article 47(1) of Ordinance No. 2025/002, existing benefits remain valid for the duration of approved agreements.
However, eligible investors may apply to transition to the revised framework for the remaining duration of their initial incentive period, subject to verification by the competent authorities. The Ordinance also prohibits simultaneous benefit under both regimes.
Investor considerations
The revised investment incentives framework reflects a more structured and performance-oriented approach to investment promotion in Cameroon. Access to incentives is now closely linked to project execution capacity, local content commitments and demonstrable socio-economic impact.
For investors, the framework provides clearer eligibility conditions, defined compliance obligations and a more structured engagement process with the IPA. Careful assessment of sectoral alignment, operational capacity and financial readiness will be essential when evaluating investment opportunities in Cameroon.
