Cameroon enjoys relatively steady economically and politically situations which has allowed for good levels of development and a more attractive business environment. Although its GDP is one of the highest in the region, private sector activity is growing slowly and gradually.
Cameroon benefits from some major international trading links, although fluctuating international oil and cocoa prices impact heavily on the country’s economic progress. The government has been keen to push a number of IMF and World Bank programs aimed at attracting investment and develop trade, and more reforms designed to further privatization are expected.With its dual legal system, Cameroon operates under a joint system of English common law and French civil law, and France acts as one of the country’s major trading partners. The increasing industrialisation of the region means that Cameroon is enjoying a more diversified economy, one that is becoming of interest to investors.
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Cameroon - Experience
Regulatory Review – Telcoms Equipment Provider
Acting for a US-based equipment manufacturer and service provider, we have reviewed the regulatory regime in 5 countries in the region to see what licences are required and how they are obtained for the installation and operation of the client’s equipment.
Banking Regulation – Leading International Bank
We advised a leading international bank on regulatory aspects of retail banking across the Francophone region, including banking licences, lending and deposit taking. We are also reviewing the legality of aspects of their internet banking products in various jurisdictions.
Internet sales – On-line Retailer
We acted for a major on-line retailer advising whether the client’s standard way of operating in new countries was acceptable under local law. Issues included advice on sale of goods; import, export and customs regulations; advice on the regulatory framework for investors generally; as well as commenting on framework under which laws and regulations are drafted and amended.
Bribery and Corruption – US Software
Acting for a major US software company, we advised on the basic rules regarding what constitutes bribery and corruption, where the line is drawn between “entertaining” and “corruption” and the extent and severity of the sanctions applicable.
Software Rollout – Internet Service Provider
Acting for a leading internet service provider, we advised on the rules for operating in country, the regulatory regime for internet based sales and the sanctions and enforcement for breach.