Housing Finance in Cameroon
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Loading... - Gracebianca Nya
- 15 Aug 2022
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Cameroon is a lower-middle-income country with a population of close to 28 million. Located along the Atlantic Ocean, it shares its borders with Chad, the Central African Republic, Equatorial Guinea, Gabon, and Nigeria. Two of its border regions with Nigeria (northwest and southwest) are English speaking, while the rest of the country is French-speaking. Cameroon is 475 440 km2 in size and is made up of 472 710 km2 of land and 2 730km2 of water. With a population growth rate of 2.6% in 2021 compared to 2.59% in 2020. With an urbanisation growth rate of 3.63% per annum in 2021 Cameroon is now 56.3% urbanised compared to 55.78% in 2020. The population below the poverty line was reported at 37.5% in 2014, 40% in 2018 and 30% in 2019.
As a result, there is continuous disordered land use and occupation, with poorly structured urban neighborhoods with disharmony around spaces for housing, production activities, marketing, green and play spaces. In addition, access to water in Cameroon was reported at 1 in 2020, according to the World Bank collection of development indicators, compiled from officially recognised sources. The country is suffering from terrorism in the far north region and civil strife in the North West and the South West regions. These have increased the problem of housing with many moving away from the far North, the North West, and southwest regions. This relocation to other regions came with the destruction of existing housing and put further strain on the housing market and the government.
Cameroon is endowed with rich natural resources, including oil and gas, minerals, high-value species of timber, and agricultural products, such as coffee, cotton, cocoa, maize, and cassava. The Cameroon currency is Central African CFA franc. The country is classified as one of the world’s least developed countries and is considered a lower middle-income country. Read More...
