Nearly 8 million Cameroonians could be affected by extreme poverty by 2026

Faced with this worrying picture, the World Bank is calling for immediate and strategic measures.

According to the latest projections from the World Bank, the extreme poverty rate in Cameroon could reach 25.0% by 2026, affecting approximately 8 million Cameroonians if current trends continue.

In its recent Cemac Economic Barometer, published on June 17, the Bretton Woods institution indicates that the population living in extreme poverty has already increased by more than 2 million since 2001, now exceeding 6 million, or 23% of the Cameroonian population.

To avoid this alarming situation, the World Bank calls for immediate and strategic measures. According to the institution, it is important for Cameroon to act now to address these challenges. The country must first stimulate private sector-led growth, which requires improving the business climate and sectoral governance, lowering input costs (energy, transport, telecommunications, etc.) and raising the level of training of the workforce.

Second, even if a significant effort is needed on the infrastructure side (an effort that will promote private sector growth), public expenditure must be managed more strategically and efficiently by relying more on synergies with the private sector. It will also be essential to optimize the benefits of the infrastructure effort by carrying out relevant sectoral reforms.

Finally, targeted poverty reduction measures will need to be taken to address the many pockets of poverty in the northern regions. These measures should aim to:

(i) increased agricultural yield and production;
(ii) improved outcomes in education and health;
(iii) expanding access to basic infrastructure;
(iv) the establishment of safety nets until general conditions improve.

” Weak governance, which weighs on all these issues, constitutes a major challenge for Cameroon’s development, having repercussions on economic transactions and the provision of services – and consequently on development outcomes.“, concludes the World Bank.