Cameroon Wants to Turn Diaspora Remittances Into Long-Term Investment

Cameroon received about CFA652 billion ($1.2 billion) in remittances from its diaspora in 2024, and the government wants to channel part of those flows into long-term investment. Through a project known as DIASDEV, the Caisse des Dépôts et Consignations (CDEC) is exploring the creation of a regulated savings product for Cameroonians living abroad as well as residents at home. The proposal, however, remains at the design stage and will have to convince savers that their funds will be secure, generate competitive returns, and be invested transparently in productive sectors.

The CDEC is holding a conference on Tuesday, July 7, at the Hilton Hotel in Yaoundé under the theme, “National Savings as a Driver of Economic Financing: The Role of the Caisse des Dépôts et Consignations.” The event marks the presentation of the findings from DIASDEV, a feasibility study examining how to structure a savings product capable of mobilizing long-term capital for investment.

CFA652 Billion in Remittances, but Only a Fraction Is Available for Investment

According to information presented by the CDEC, citing the midterm review of Cameroon’s 2020-2030 National Development Strategy, diaspora inflows reached $1.2 billion in 2024, equivalent to about CFA652 billion, up 8% from 2023. Most of the transfers came from France, the United States, and other CEMAC countries.

While the figures point to a significant financial resource, the CDEC acknowledges that only part of those remittances could realistically be redirected toward investment. Most transfers are used to cover everyday household expenses, including food, healthcare, education, housing, and family support.

The objective of DIASDEV is therefore more targeted: to capture a share of these scattered financial flows and convert them into long-term savings that can finance productive sectors of the economy.

Based on 2024 data from the Ministry of External Relations cited by the CDEC, Cameroon has about 500,000 passport holders living abroad. Using a broader definition that may include descendants, dual nationals, and people of Cameroonian origin, the diaspora could reach as many as six million people, or roughly 20% of the country’s population. The institution notes, however, that the scope of this broader estimate still needs to be clarified.

A Deposit Institution, Not a Commercial Bank

The CDEC does not expect to market the savings product directly to individuals. According to the institution, its mandate and banking regulations, particularly those set by the Central African Banking Commission (COBAC), limit its ability to operate in the retail banking market.

Instead, the CDEC would act as the architect of the scheme, designing the framework, defining its operating rules, and overseeing the overall structure. Commercial banks and microfinance institutions would handle the collection of deposits from members of the diaspora and domestic savers. The distinction is important because the initiative is designed to complement, rather than compete with, the banking sector.

Three models are still under consideration: a short-term savings account, a long-term fixed-term deposit, and an investment savings product backed by funds. The feasibility study is expected to guide decisions on the final structure, collection methods, investor protections, expected returns, and the sectors that would receive the funds.

Winning the Diaspora’s Trust

DIASDEV is part of a broader program supporting deposit institutions led by the French Development Agency (AFD) and Expertise France, with support from the Forum of Deposit Institutions. According to the CDEC, consulting firm Onepoint carried out the study with technical support from FICOM.

Several public and financial institutions contributed to the project, including the Ministry of Finance, the Ministry of External Relations, the Ministry of Economy, the national branch of the Bank of Central African States (BEAC), AFD Cameroon, the Investment Promotion Agency, the Cameroon Real Estate Corporation, as well as commercial banks and microfinance institutions. The CDEC also established an internal working group on January 19, 2026, under a decision signed by Director General Richard Evina Obam to oversee and validate the project’s deliverables.

The biggest challenge, however, is likely to be trust. Members of the diaspora are under no obligation to place part of their savings in such a product. They are likely to participate only if the mechanism offers strong legal protections, competitive returns, appropriate liquidity, regular reporting, and full transparency on how the funds are used.

Ultimately, the initiative is about more than redirecting remittance flows. It will test Cameroon’s ability to transform private household transfers into long-term financing for infrastructure, industry, small and medium-sized enterprises, and innovation. Without a credible and transparent framework, DIASDEV will remain a feasibility study. If the proposed mechanism delivers on its promises, it could become an important tool for mobilizing domestic savings to finance productive investment.

Baudouin Enama