Tunisia Africa Business Meetings: Unlocking Synergies between Morocco and Tunisia, with a Focus on Cameroon
During the 2nd day of the 3rd edition of Tunisia Africa business meetings, Nouri Jaziri, Senior Manager in Consulting at EY, addressed the synergy and complementarity between Morocco and Tunisia, providing key indicators on Cameroon.
Cameroon: A Key Market in Africa
Jaziri highlighted that Cameroon has a population of 20 million inhabitants, with an inflation rate of 7.4% and an annual growth rate of 38% between 2018 and 2022. Foreign investments in Cameroon amounted to approximately $890 million, with an annual growth rate of 3%.
Economic Performance and Trade
Jaziri emphasized that Cameroon's GDP has experienced an average annual growth rate of 2.6% between 2018 and 2023, mainly driven by the services sector, which contributed 52% in 2023. In terms of trade, Cameroonian exports recorded a growth rate of 0.5%, while imports increased by 1.8%.
Targeting the Market: Analyzing Economic and Commercial Data
To better target the market, Jaziri stressed the importance of analyzing economic and commercial data. He pointed out the dominance of Asia and Europe in Cameroonian imports, with China representing nearly 30% of imports. Cameroonian exports to Asia and Europe follow a similar trend.
Promoting Intra-African Trade and "Made in Africa"
Jaziri highlighted the importance of intra-African trade to promote "Made in Africa." Egypt and Morocco are Cameroon's main trading partners in terms of imports, with Tunisia ranking 12th. Regarding exports, Chad is the main partner, followed by Tunisia.
Diversification and Regional Integration
Jaziri recommended sectoral diversification to respond to the changing needs of Cameroonian and Tunisian consumers. He also encouraged businesses to establish themselves in Africa to better understand the local market and foster regional and continental integration.
Improving Logistics and Partnerships
Finally, Jaziri emphasized the need to improve logistics and develop partnerships to strengthen commercial exchanges between Tunisia and Africa. He cited the example of a large Cameroonian group accompanied by Tunisian expertise for restructuring and transformation, highlighting the importance of understanding local market specificities to succeed.