Chapter 8 – On Economic Policy
The economy encompasses all the activities of a human society related to the production, distribution, and consumption of wealth. It would be a truism to say that the economic sector in Cameroon is devastated. Rebuilding Cameroon requires a genuine shift in economic policy.
The Problem
Historically, Cameroon, as a territory, was established by the Germans not to meet the economic needs of the Cameroonians living there, but to serve the needs of the colonizers and the European metropole. The economic policies of the administrative powers that succeeded the Germans followed the same logic. The neo-colonial rulers currently governing Cameroon have not deviated from this economic policy orientation. Thus, there is not an economy of Cameroon, but an economy in Cameroon.
Cameroon’s economy is led by authorities who care only for their personal interests and those of foreign powers, upon whom they rely to stay in power indefinitely. The interests of the Cameroonian people matter little when it comes to choosing economic policies. In such a context, the type of agriculture promoted is cash-crop farming, where raw goods are exported to fuel foreign manufacturing industries. The same goes for resource extraction: raw materials are taken and exported unprocessed. Nearly all logging operations in Cameroonian forests aim to export raw timber abroad.
This policy of exporting raw materials results in foreign countries doing all the transformation work—at the expense of Cameroonian labor. Thousands of jobs that could have gone to Cameroonians are thus exported, while Cameroonians remain unemployed.
To meet the population’s needs for basic consumer goods, the government encourages the importation of low-quality goods and second-hand products previously used in "developed" countries. Cameroon becomes a dumping ground—a trash bin for used cars, clothing, furniture… even food that could easily be produced locally via farming, fishing, and livestock. Items like rice, apples, beans, oranges, meat, and fish are imported. This inevitably fuels unemployment in Cameroon, as people survive on the labor of others. This economic model also deepens Cameroon's dependence on foreign countries for food.
On a human level, everything is done to prevent Cameroonians from being wealth creators—they are resigned to being mere consumers of imported goods, the fruit of other people’s labor. Since colonial times, while colonizers created wealth-producing businesses, the first generation of educated indigenous Cameroonians preferred jobs in public administration—often in subordinate roles. After independence, this mindset persisted: Cameroonians continued to shun wealth-producing activities. The local elite is mainly composed of civil servants. The most sought-after schools are those that train public administrators. People consider you unambitious if you enroll in a polytechnic or agricultural school.
The same prejudice applies to those who go into farming or livestock rearing—these are seen as fallback options for people who "failed at life." Cameroonians wanting to start wealth-generating businesses face obstruction from public officials who control the country’s economic activities. For example, a young person wanting to go into farming or livestock may be denied land access by the public administration, which manages national lands. Starting an industrial or commercial business is an obstacle course: you’re looked down on by the clerk where you file your paperwork; your application gets stuck on the desk of the civil servant in charge of issuing the required permits. Once the business is operational, you’re constantly harassed by the same officials demanding their "cut" of the profits. If you resist, your business risks being shut down.
As in colonial times, wealth-generating businesses remain the domain of large foreign companies—sometimes partnered with state capital, which is rarely invested in ways that benefit Cameroonians. The few Cameroonian entrepreneurs allowed to thrive usually focus on distributing imported consumer goods. They often act as local representatives for foreign firms.
Solutions
Rebuilding Cameroon, economically speaking, begins with a change of mindset. Cameroonians must realize they are the primary agents of their own economic development. Relying on foreigners is futile—foreign actors operate solely in their own interests, even when they claim to be helping Cameroonians.
To rebuild Cameroon, the UNIVERS Party proposes implementing an economic policy where the state creates enterprises using public funding, with the ultimate goal of transferring ownership exclusively to Cameroonian entrepreneurs. In short, once a business is successfully launched, the state steps back to focus on its sovereign responsibilities.
Cameroonians must stop being mere consumers and become producers of wealth. This means building an economy rooted in the creation of businesses that exploit the land, subsoil, and water—natural resources Cameroon has in abundance.
The next step must be to industrialize Cameroon, which requires solving the energy problem and resolving the debate over currency once and for all.
Economic Measures Proposed by the UNIVERS Party
Measure 1 – Exploiting Natural Resources: Land, Subsoil, and Water
All wealth comes from nature—it simply needs to be harnessed through Cameroonian labor.
1° – Land Resource Exploitation
An aerial view of Cameroon reveals vast unused lands across the national territory. These empty lands can be exploited. The land itself is already a valuable resource from which Cameroonians must benefit economically—through agricultural, pastoral, forestry, and other enterprises.
Agricultural Enterprises
Recognizing agriculture’s importance to the economy of a country like Cameroon, the first post-independence government initiated a “Green Revolution” to get Cameroonians into agriculture. The goal was to make Cameroon self-sufficient in food, so it would no longer depend on imported agricultural products.
However, the government left the initiative to private individuals. Despite the creation of a state bank—the Rural Development Fund (FONADER)—to finance this effort, the policy failed.
The agricultural sector will be revived as part of Cameroon’s reconstruction through state-created enterprises funded by public money. These enterprises will grow food for local consumption: vegetables, tubers, grains, fruits, etc. Their output will primarily serve local markets. Exports will require public authorization. The goal is to make Cameroon completely self-sufficient in food.
University programs and research centers will be launched to develop methods of preserving agricultural products to avoid spoilage after harvest. The industrialization policy (see Measure 2) will help transform agricultural goods into consumer products.
Forestry Enterprises
Since colonial times, Cameroonian forests have been exploited by foreign companies that export raw timber. It is time for Cameroonians to manage their own forests and trees. Hence, the government will stop granting logging permits to foreign companies and prioritize Cameroonian applicants.
Permits already granted to foreign companies will not be renewed upon expiration, as part of a transition to local control. This policy aims to put Cameroonians to work and reintegrate them into the national economy.
The UNIVERS Party also proposes slowing the rate of deforestation to prevent environmental degradation. Companies will be required to limit tree cutting to specific areas, and for each tree felled, a new tree must be planted.
Pastoral Enterprises
Currently, pastoral enterprises in Cameroon are mostly small-scale and face many challenges: limited access to inputs, degraded grazing areas, and a lack of water sources (mainly natural rivers). The state must provide significant support to investors in this sector.
Cameroon’s vast unused spaces must be harnessed to revive livestock farming. This will involve modernizing the sector through the creation of ranches.
2° – Exploiting Water Resources
Examples include:
· Fishing enterprises to supply local markets and end dependence on imported fish;
· Construction of dams and mini-dams to meet energy needs.
Measure 2 – Industrialization and Raw Material Processing
Since colonial times, agricultural products have been exported for processing in European countries. Today, Cameroonians are paying exorbitant prices in supermarkets for coffee and cocoa that were grown in their country but transformed elsewhere. This must come to an end. Cameroonians will be offered a vision in which the transformation of agricultural products takes place within Cameroon. Only finished or semi-processed goods will be exported—but only after meeting domestic consumption needs.
This transformation must, of course, occur gradually. The State can set a timeline of 15 to 20 years to financially support Cameroonian-run raw material processing plants. The same principle applied to agricultural products must be rigorously implemented for timber from our forests, which has also been exported in raw form since the colonial era.
This policy should also be extended to the local processing of mineral resources.
Measure 3 – The Import Substitution Policy
Import substitution is a strategy that aims to replace foreign imports with domestic production. It is a self-reliant development model that reduces dependence on imports to develop a nation’s industrial capacity. For Cameroon, import substitution is a key opportunity to achieve economic independence and sustainable growth.
By focusing on building strong local industries, Cameroon can:
Reduce its reliance on foreign goods,
Create employment opportunities,
Foster innovation.
This strategy will require the revision of certain free trade agreements to enable a reduction in imports while encouraging exports. It is unacceptable that Cameroon still imports essential consumer goods that could easily be produced locally.
Measure 4 – The Energy Question
Cameroon is endowed with a rich and diverse energy potential, including hydroelectricity, fossil fuels, and renewable energy sources. Yet the country continues to struggle to meet the growing energy needs of its population, seriously hindering economic development.
Electricity demand far exceeds production capacity, resulting in frequent blackouts and energy rationing in many regions. Much of the country’s infrastructure is outdated, and efforts to modernize it are often stalled by poor governance.
Only around 60% of the population has access to electricity, mostly in urban areas. This disparity is largely due to an energy policy overly reliant on hydroelectric power. While hydropower is a significant source, it exposes the country to climate-related risks like reduced rainfall that threatens energy production.
The obvious solution is to increase energy production by tapping into underexplored or underutilized sources. Improving distribution is also essential. Cameroon must optimize its hydroelectric potential by building large dams on major rivers as well as mini-dams on small rivers near villages.
Furthermore, Cameroon must diversify its energy sources by:
Expanding solar, wind, and biomass energy;
Investing in natural gas, of which the country has significant reserves.
Gas-powered electricity plants would reduce dependence on hydropower, diversify energy sources, and lower CO₂ emissions compared to diesel-powered thermal plants.
Measure 5 – The Currency Issue
The CFA franc, used by several Francophone African countries, is a currency inherited from French colonial rule. Cameroon, a member of the CEMAC (Central African Economic and Monetary Community), has used it since 1945.
The debate around the CFA franc centers on whether it should be retained or replaced by a sovereign national currency.
Supporters of the CFA franc point to its advantages:
Monetary stability due to its peg to the euro,
Low inflation rates,
Foreign investor confidence,
Regional integration, which it facilitates by lowering transaction costs and boosting trade within the CEMAC zone.
However, critics argue that the CFA franc represents a loss of monetary sovereignty. Cameroon cannot adjust its currency to stimulate the economy—such as by devaluation to make exports more competitive. The fixed exchange rate overvalues the currency relative to national productivity, reducing the global competitiveness of local goods and discouraging economic diversification.
Moreover, CFA countries are required to deposit part of their foreign reserves with the French Treasury—a practice that limits their ability to fund national development projects or respond to economic emergencies.
If elected, the UNIVERS Party will bring the CFA franc debate to the people, organizing a national dialogue with experts from across political and social backgrounds. The people will decide whether to:
Create a new independent national currency, or
Retain the CFA franc but reform it to grant greater autonomy to member states.
Potential reforms could include:
Increasing African participation in currency management,
Revising monetary cooperation agreements with France,
Reducing or eliminating the requirement to deposit 50% of foreign reserves with the French Treasury.