Abstract

This study is centered on Cameroon becoming an emerging nation by the year 2035; myth or reality. It sought to create awareness that Cameroon is seeking to become an emerging nation by the year 2035. It also sought to indicate certain factors or impediments that prevents Cameroon from becoming an emerging nation by the year 2035 and went ahead to proposed solutions that could overcome these impediments if properly handled implemented. In an attempt to address the above objectives, a qualitative approach of data analysis was adopted. In the process of gathering information on this research, secondary sources of data were consulted such as books, journals, newspapers and the internet to serve as methods of data collection.

After constant research on the study and its findings, it was realized that, Cameroon will fail to attain the status of an emerging nation by the year 2035 because certain factors did pose as threats and acted as impediments towards vision 2035.

It was recommended that, the government should put into action better policy options and solutions in order to counteract these problems that posed as threats to its vision 2035 and adapt to the ways of doing things by matching their promises with actions rather than ending at the door steps of mere speeches. So due to the limited time, I will suggest that, further research should be carried out on this same issue.

CHAPTER ONE

GENERAL INTRODUCTION AND METHODOLOGY

1.1Background to the Study

Since 1960 when Cameroon gained independence, the fate of the country has passed through a series of political, economic and socio-cultural events which has shaped its landscape till date. Within the period 1960 and 1977, the primary focus of the government was peace building following the pre-independence rebellion of the Union Population du Cameroon (UPC). His period was further characterized by an early industrialization based on imports substitution and also the export of cocoa and coffee. Furthermore, within this period, the economy grew at an annual average rate of 4.6% (World Bank report 1980) and the end of this period coincided with oil exploitation and exports.

Moreover, the period within 1978 to 1985 was dominated by the introduction of oil production and exports. It should be noted that two political and socio-economic events occurred during this period that is; there was the change in I political leadership in 1982 and also the political leadership struggle that led to the social tension and a failed military coup in 1984. This period further witnessed an increase in major industrial and agricultural project and the economy grew at an annual average rate of 6.9% and the shares in consumption, savings in the Gross Domestic Product (GDP) increased and the share of government expenditure decreased and the GDP per capita reached a peak of US$900 in 1985 (World Bank report 1985). It is of importance to note that the mismanagement of oil revenue during this period could be considered as one of the main reasons for the subsequent decline in growth observed in the mid and late 1980s.

From the year 1986, the country was characterized by social upheavals and tension following the failed coup of 1984 and the introduction of press freedom and multipartism in 1990 coupled with other external shocks especially the fluctuation in the international price of primary, agricultural and mineral exports which led an unprecedented collapse in economic growth and finally culminated to the economic crises that affected the country in the lat 1980’s and the early 1990’s. Collier and O’Connell (2007) argued hat this period displayed a combination of near state breakdown. His all finally led to the devaluation of the Franc cfa in 1994. As a result of the ongoing events and tragedies that besieged the government, she was forced to borrow huge sums of money from the International Monetary Fund (IMF) and the then International Bank For Reconstruction and Development (IBRD) now the World Bank to revamp the economy with strings attached with conditionalities for the government to embark on austerity measures such as the structural adjustment programs (SAPS) which forced the government to throw many workers out of work an increase in the salary reduction of workers and the high increase in the prices of basic commodities. This further worsened the economic situation of the country and Cameroon finally became a Heavily Indebted Country because of it inability to finance it debts even after going through readjustment programs and with their satisfactory implementation led to its attainment of the Heavy Indebted Poor Country Initiative (HIPC) in 2006 which enabled a significant cancellation of the country’s debt by the IMF and the World Bank.

Therefore, n order to consolidate the economic revival process that is the Poverty and Strategy Reduction Papers (PRSP) and sustain it, Cameroon was compelled to consider its developmental process notably by mainstreaming it into a broader policy framework, therefore, there was then the need to formulate ‘a forward looking vision’ and the introduction of the Growth and Employment Strategy Paper (GESP) which will act as a prerequisite for the country’s long term development strategy of becoming an emerging nation by the year 2035.

A common vision for Cameroon’s development was therefore ushered in following an all inclusive process that brought together some forces of the nation which hinges on the country’s so all great achievement program, structural studies on the system, peoples expectations and the government’s commitment vis-à-vis international partners.

The working paper was finally drafted in a single document Cameroon Vision 2035 by the ministry of the Economy, Planning and Regional Development (MINEPAT) and was finally signed by Prime Minister Philemon Yang in June 2009. Source (CAMEROUN VISION 2035; English version). This document encompasses the objectives, formulation, implementation, financing not forgetting the threats and obstacles of such vision.

1.2 Statement of the Problem

Cameroon’s vision of becoming an emerging nation by the year 2035 is becoming more of a delusion as despite the so many promises from President Paul Biya, Cameroon’s prospects of emergence show fewer signs of real improvement making Biya’s vision to be more of a fantasy than prophesy because for Cameroon to o little for over two decades would be a miraculous adventure even so because the Cameroonian miracle has not shown any signs of emergence during the last thirty years of Biya’s presidency.

The main problem of this study is to prove the fact that Cameroon’s emergence vision is more of a myth than a reality as it will fail to become an emerging economy by the year 2035 because certain factors will prevent it from grapping the spot as an emergent nation by the year, thereby making it a fruitless vision.

This study will therefore be guided by the following research questions;

What are the factors that prevent Cameroon from becoming an emerging nation by 2035?

What are the policy options and solutions that can help Cameroon towards becoming an emerging nation by the year 2035?

1.3 Objectives of the Study

1. To create public awareness that Cameroon seeks of becoming an emerging nation by the year 2035.
2. It seeks to portray the factors that deny Cameroon from becoming an emerging nation by the year 2035.
3. It seeks to propose solutions and policy options for Cameroon’s emergence by 2035.

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