Business Hub

Unlike other towns in the country, most inhabitants in Douala are always on their heels.

In Douala, “time is money”. This old adage aptly describes the way people in the economic capital of Cameroon go about their daily chores. It looks like everybody in this sprawling city of about 2 million people is involved in some business or the other. Someone who gets into the town from other localities in the country easily goes with this impression. People are busy and have little or no time to spend attending to what does not concern them.
About 80 per cent of the industrial activities in the country take place in Douala. Most of the giant companies in Cameroon have their headquarters situated in Douala. They include the breweries such as, Guinness Cameroon, Les Brasseries du Cameroun, MTN, and Orange among others. There are also big companies owned by individuals like the Fokou, as well as, other building construction equipment companies.
Douala serves as a transit centre for all sorts of goods to the rest of Cameroon. The Douala sea port is one of the major openings which facilitates the importation and exportation of goods and services. Business at the port is brisk. Ships dock in daily, bringing in finished goods and taking on timber, oil, banana, etc, to other countries.
Another opening is the Douala international airport. Compared to other towns in Cameroon Douala has fairly good roads. They ease transportation to any part of the country. No doubt many industries are located in the city. There is also a multiplier effect as several satellite businesses have sprung up. That is probably why some say everybody in Douala is involved in one kind of business or the other. Its closeness to other markets in the sub-region is also of great importance. As such, Douala serves internal and external market needs. The population of the town is large. This gives room for a ready market.
Everyday, small and medium size companies spring up in Douala to meet the needs of the increasing population. Unfortunately, businessmen have not found it easy with the taxation department which obliges them to pay their taxes. But tax evasion is commonplace in Douala, especially among businessmen of the informal.
Many small businessmen we talked to say that it is difficult to set up business in Cameroon. The applicant must first deposit the initial capital to run the company in a bank and obtain a receipt. He then presents the physical location plan to the taxation department and obtains an attestation of business premises. This will cost FCFA 12,500. A notary verifies and reserves the proposed company name by filing a motion with the African Intellectual Property Organization's office in Yaoundé. An attorney/notary drafts the Memorandum and Article of Association; sign company by-laws before the notary which will cost FCFA 500000.
The signed by-laws are duly registered at the Stamp Duty Office of the Department of Taxation at 2 per cent of the share capital including fiscal stamps. The business tax is paid; a taxpayer number is obtained with the Inspectorate of Taxes in the area where the enterprise is located. After declaring the existence of the company before the authorities in charge of the industry, the local office of Department of Labour, it is also declared and the personnel employed if any before the National Social Insurance Fund.

EFFA TAMBENKONGHO