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BMI View: Cameroon's construction industry will record strong growth throughout our forecast period as
the government directs substantial expenditure towards tackling its infrastructure deficit and foreign direct
investment flows into the market. Upgrades to transport and power infrastructure will be the key drivers of
growth during this period as Cameroon works to improve the overall ease of doing business in the country.
Posing a downside risk to our outlook are potential threats to political stability, which could see investors
becoming more cautious when operating in the market.
Forecast & Industry Developments
? We are maintaining our forecast for 9.4% real growth in 2016. The market will record robust growth over
the first half of our forecast period between 2016 and 2025, expanding at an annual average of 8.8% in
real terms and making it the second-fastest growing infrastructure market in Sub-Saharan Africa (SSA)
? Over our full 10-year forecast period up to 2020 we project industry growth to average 8% in real terms.
Nominal industry value is expected to rise from an estimated USD1.9bn in 2015 to USD6.1bn in 2025,
keeping Cameroon as one of the smaller infrastructure markets in West Africa.
? Cameroon boasts one of the more developed public-private partnership frameworks in SSA and continues
to draw in foreign direct investment from a range of international firms, most notably from France, Italy
? Improvements to overall logistics will provide the largest boost to growth, particularly efforts to harness
the country's hydropower potential and work under way at the new USD850mn Kribi Port. Increased
activity in the non-residential sector is also supporting our positive outlook, with Cameroon's hosting of
the Africa Cup of Nations in 2019 providing opportunities in commercial construction.
? Political risk presents a downside risk to our forecast and is a chief deterrent to operating in the market.
Concern stems from the political vacuum that would be left in the wake of incumbent president Paul
Biya's unplanned departure from office and the growing presence of Nigeria terrorist group Boko Haram
in the country.