Cameroon: 5.1 Trillion FCFA Blocked, Public Investment Stalled

Cameroon is facing a significant paradox: while its operational budgets are exhausted within months, over 5.1 trillion FCFA (approximately $8.5 billion USD) in external financing remains "dormant" as engaged but undisbursed funds (SEND).

The situation highlights a two-speed public spending chain. Operational expenses, such as purchases, missions, and allowances, are processed quickly using internal resources without external validation. In stark contrast, investments funded by international partners become mired in delays. The Autonomous Amortization Fund (CAA) identifies four major obstacles: projects are often signed before technical studies are complete or compensation is paid; the state's lack of counterpart funds blocks subsequent disbursements; public procurement processes drag on for months between ministries and commissions; and Cameroonian public procurement codes frequently conflict with the rules of technical and financial partners.

The cost of this financial paralysis is substantial. Not only are essential infrastructure projects like roads, energy, and hospitals delayed, but the Treasury incurs significant expenses for nothing. In 2025, the SEND portfolio generated over 4 billion FCFA in commitment fees alone – money spent without productive return and contributing to the national debt.

To reverse this trend, experts urge immediate reforms. These include ensuring projects are fully mature before signing loans, digitizing procurement procedures to increase speed, and implementing a stricter schedule for operational budgets to prevent the early depletion of state coffers. Without these changes, billions will continue to lie idle, hindering Cameroon's development goals.