According to figures recently revealed by the Chamber of Accounts of the Supreme Court of Cameroon, between 2020 and 2025, the State injected 749.3 billion CFA francs (approximately $1.3 billion USD) into 26 public companies in the form of subsidies. The level of this budgetary support raises questions as the performance of this sector falls short of government expectations.
However, this is not due to a lack of direction in the use of these funds. Indeed, as learned from the presentation by the Chamber of Accounts, in addition to ensuring the continuity of public services, this funding aims to preserve the financial balance of companies facing structural difficulties. Especially in the energy, transport, water, and infrastructure sectors, considered strategic for the national economy.
This dynamic comes as the government continues to reform the governance of public enterprises. The stated objective is to “improve their operational efficiency, reduce their dependence on budgetary resources, and strengthen their contribution to growth.”
According to budget projections, this support policy will not weaken. In fact, the 2026 budget law provides for 152.26 billion CFA francs (approximately $262 million USD) in subsidies for public enterprises. This amount represents a significant increase compared to the allocations in 2025.
Conversely, aid for the private sector continues to decline. The planned credits decrease from 7.61 billion CFA francs in 2025 to 5.03 billion in 2026, reflecting a reorientation of budgetary priorities towards state-owned enterprises.
Public authorities justify this orientation by the restructuring needs of several strategic companies. Some provide public services whose economic balance remains fragile. Others face financial constraints inherited from heavy investments or imperfect governance.
However, the question of the effectiveness of these transfers remains central. In a circular related to budget preparation, the Presidency of the Republic has called for better monitoring of subsidies. Supervising ministries are invited to assess the real needs of companies and to more rigorously monitor the execution of their budgets.
This performance requirement comes in a context where several public enterprises continue to accumulate financial difficulties. Official analyses have already highlighted significant losses and high debt for some of them.
For public finances, the challenge goes beyond just controlling expenses. It is also about transforming public enterprises into actors capable of generating more economic value, improving the quality of services provided, and ultimately reducing their reliance on budgetary subsidies.
In an environment marked by limited budget margins and growing financing needs for investments, the ability of public enterprises to improve their profitability now appears as a major lever for the sustainability of Cameroonian public finances.
