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The economy of Cameroon was one of the most prosperous in Africa for a quarter of a century after independence. The drop in commodity prices for its principal exports – petroleum, cocoa, coffee, and cotton – in the mid-1980s, combined with an overvalued currency and economic mismanagement, led to a decade-long recession. Real per capita GDP fell by more than 60% from 1986 to 1994. The current account and fiscal deficits widened, and foreign debt grew. Yet because of its oil reserves and favorable agricultural conditions, Cameroon still has one of the best-endowed primary commodity economies in sub-Saharan Africa.
Somalia is classified by the United Nations as a least developed country, with the majority of its population being dependent on agriculture and livestock for their livelihood. The economy of Somalia is $4.918 billion by gross domestic product as of 2020. For 1994, the CIA estimated it at purchasing power parity to be approximately $3.3 billion. In 2001, it was estimated to be $4.1 billion. By 2009, the CIA estimated that it had grown to $5.731 billion, with a projected real growth rate of 2.6%. In 2014, the International Monetary Fund estimated economic activity to have expanded by 3.7% primarily. This expansion was driven by growth in the primary sector and the secondary sector. According to a 2007 British Chambers of Commerce report, the private sector has experienced growth, particularly in the service sector. Unlike the pre-civil war period, when most services and the industrial sector were government-run, there has been substantial, albeit unmeasured, private investment in commercial activities. The investment has been largely financed by the Somali diaspora, and includes trade and marketing, money transfer services, transportation, communications, fishery equipment, airlines, telecommunications, education, health, construction and hotels.
The International Chamber of Commerce is the largest, most representative business organization in the world. Its over 45 million members in over 100 countries have interests spanning every sector of private enterprise.
A chamber of commerce, or board of trade, is a form of business network. For example, a local organization of businesses whose goal is to further the interests of businesses. Business owners in towns and cities form these local societies to advocate on behalf of the business community. Local businesses are members, and they elect a board of directors or executive council to set policy for the chamber. The board or council then hires a President, CEO, or Executive Director, plus staffing appropriate to size, to run the organization.
The United States Chamber of Commerce (USCC) is the largest lobbying group in the United States, representing over three million businesses and organizations. The group was founded in April 1912 out of local chambers of commerce at the urging of President William Howard Taft and his Secretary of Commerce and Labor Charles Nagel. It was Taft's belief that the "government needed to deal with a group that could speak with authority for the interests of business".
The Australian Chamber of Commerce and Industry (ACCI) is Australia's largest and most representative business association, comprising state and territory chambers of commerce and national industry associations. ACCI represents Australian businesses of all shapes and sizes, across all sectors of the economy, and from every corner of the country.
The Corporate Council on Africa (CCA) is a trade association focusing on strengthening commercial relationships between the United States and the African continent.
Ecobank, whose official name is Ecobank Transnational Inc. (ETI), is a pan-African banking conglomerate, with banking operations in 36 African countries. It is the leading independent regional banking group in West Africa and Central Africa, serving wholesale and retail customers. It also maintains subsidiaries in Eastern and Southern Africa. ETI has representative offices in Angola, China, Dubai, France, South Africa, and the United Kingdom.
The National Black Chamber of Commerce (NBCC) was incorporated as The National Black Chamber of Commerce, Inc., in 1993. It is a nonprofit, nonpartisan, nonsectarian organization dedicated to the economic empowerment of African American communities. Additionally, the organization indicates that it represents the views of its members regarding economic and political policy issues; domestically and internationally. It is organized as a 501(c) corporation and has at least 190 chapters within the United States. The NBCC also has international chapters in the Bahamas, Brazil, Colombia, Ghana and Jamaica. As with all Chambers of Commerce, affiliate branches are committed to carrying out the goals of the main Chamber within their areas.
Federation of Bangladesh Chambers of Commerce and Industries is the apex trade organization of Bangladesh playing a pivotal role in consultative and advisory capacity, safeguarding the interest of the private sector in the country.
Francis Ikome is an Italian-Cameroonian international policy adviser and the founder and president of the Cameroonian American Chamber of Commerce (CAMAM). He is also a retired professional footballer.
Since its inception in 1950, Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has advocated and voiced the collective opinion, concern and aspiration of the private sector and offered helpful advice and solid assistance to the Government in its efforts to promote exports, encourage foreign investment and stimulate economic activity in the country. The FPCCI has its fingers on the pulse of the economy and serves as a bridge between the private sector and the Government.
The American Chamber of Commerce (AmCham) is the leading foreign business organization operating in Russia. Founded in 1994, AmCham advocates the trade and investment interests of its member companies, which include major U.S. Corporations, as well as large European and Russian companies. The Chamber advances commercial relations between the Russian Federation and the international community by promoting an investment-friendly environment. In so doing, the Chamber maintains a constant dialogue with the Russian government to protect and promote the economic interests of member companies.
The Association of the Mediterranean Chambers of Commerce and Industry (ASCAME) is a non-profit international organisation that represents the Mediterranean private sector, regrouping Chambers of Commerce and Industry and other similar entities from both shores of the Mediterranean.
Teresa Hillary Clarke, is a prominent American investment banker, entrepreneur, and expert on Africa. Her career has spanned a wide range, from being a managing director at Goldman Sachs to co-founding a scholarship and mentoring non-profit, Student Sponsorship Programme in South Africa. Over the last several years, she has funded and led Africa.com, the largest Africa-related website.
The American Business Forum in Turkey is a business association and NGO, composed of 125 or more U.S. companies with operations in Turkey. It was founded in 2004 as an American Chamber of Commerce, and it is focused on promoting a positive business agenda and commercial environment in Turkey and on strengthening bilateral trade, investment, and relations between Turkey and the U.S. through committee activities, access, visibility, business services, and networking opportunities.
Christian Ngan is a Cameroonian businessman, and the owner of Adlyn Holdings and Madlyn Cazalis Group, which has interests in cosmetics, agribusiness and real estate. The company designs, manufactures, transports natural beauty products and operates in Central Africa and West Africa.
Hisham A. Fahmy an Association Executive.
Kate Kanyi-Tometi Fotso is a Cameroonian businesswoman who founded the largest cocoa exporter in Cameroon. Fotso, according to Forbes Africa, is the richest woman in Cameroon and the 20th richest person in the African Francophonie.
The privatization of the electricity sector in Cameroon refers to the process by which the generation, transmission, distribution, and sale of electricity in Cameroon has been transferred from the state to the private sector. This includes the sale of assets and the granting of concessions to the private sector. The landmark event of this process is the sale of 56% of the Société National d'Electricité (SONEL), the fully integrated public company responsible for the generation, transmission, distribution, and sale of electricity in Cameroon, to AES Corporation in 2001. The deal also granted concessions for each sub-sector to the newly formed AES-SONEL company. The new regulatory framework to prepare for this privatization was implemented between 1998 and 2000.
References
- ↑ "AAI Weighs in on Diaspora Engagement at Cameroonian American Chamber of Commerce Event". The Africa-America Institute. Retrieved 2014-02-24.
- ↑ "About CAMAM - The Cameroonian American Chamber of Commerce". CAMAM. Retrieved 2014-03-08.
- ↑ "USBC Chambers". U.S. Black Chambers, Inc. Archived from the original on 2015-04-18. Retrieved 2015-02-03.