(Business in Cameroon) - On May 13, 2018,United Nations Economic Commission for Africa published a report on public governance. In that report, the institution revealed that Cameroon is one of the African countries in which natural resources management is feeble.
The Commission indicated that the report was based on the studies of 8 countries with different geographic conditions (Botswana, Cameron, Côte d’Ivoire, Egypt, Madagascar, Nigeria, Tanzania, and Uganda). Among those countries, only Botswana has a long-term programme for the use of its natural resources in favor of its citizens, Adam Elhiraika, director of the macroeconomic division of ECA intimated.
According to Bience Gawanas, Special Adviser on Africa for the United Nations, the paradox in African countries like Cameroon is that even though they are rich in natural resources, they stay poor because they make few returns from those resources.
The Economic Commission for Africa recommends leaders to reinforce the institutional and legal framework to improve transparency and responsibility in economic governance. “Good governance is essential for sustainable development, poverty eradication as well as social and economic transformation”, the report concludes.