Data compiled by MMI News indicates that, between September 2025 and January 2026, Cameroon’s presidency authorized loans totalling more than 2.3 trillion francs CFA.
The money is being borrowed from external and internal financial institutions, according to the various decrees signed by President Paul Biya, who recently won a controversial eighth term in office.
This amount comes to add to the country’s national debt, which the government said as of September 2025 stood at over 14 trillion CFA francs.
Projects for Recent Loans
The last borrowing of over 1.6 trillion, which the presidency authorized, said it was being used to finance developmental projects and also to clear outstanding payments. However, the presidency was not specific about the projects and which payment they are clearing.
The lack of transparency again raises concerns about the intended purpose of the loans. Since assuming office, President Paul Biya has hammered on cracking down on corruption and ensuring accountability.
However, these issues continue to challenge his 43-year administration. During Covid-19 and the 2021 Africa Cup of Nations, money was borrowed to construct infrastructure and also combat the pandemic, but some of it disappeared.
The government launched an investigation, which, to date, has not held anyone accountable.
A commentator has said, for 43 years, Cameroon has endured a cycle of borrowing with zero sincere accountability and transparent budgeting.
“Just last week, the launch of sector-wide budgets was announced, with impressive figures touted, but where’s the tangible progress for citizens?” he questioned, adding that the new finance law’s tax provisions are sparking justified outrage, leaving many questions unanswered and concerns unaddressed.
“As a citizen, I demand transparent explanations without fear of intimidation and expect comprehensive responses that meet our needs. It’s imperative we break this cycle of taxing citizens into hardship while corrupt officials live lavishly off borrowed funds,” she said.
“The absence of oversight and accountability among ministers and local leaders is a significant contributor to our nation’s woes, and it’s time for change,” she added.
To her, Cameroon needs a sincere change in the whole system with consciousness on sincere accountability, responsibility, and transparency.
However, previous borrowings, according to the presidency, were to revamp the basic education sector, provide potable water in some localities, construct solar systems for rural electrification, build roads, install surveillance cameras in Douala, and revamp the CDC and Sodocoton, among others.
Despite the massive borrowing, many still complain of not feeling the impact of the projects the government claims it is borrowing money for.
How Will the Loans Be Refunded?
The massive borrowing will likely have a huge impact on the citizens since most of the projects are not income-generating activities, for example, the recent borrowing of 1.6 trillion francs, part of which will be used to clear outstanding government debts.
This means that the government can only pay back such a loan by raising taxes for citizens who are already reeling under the rising cost of living in the country.
Of the 13 times the government has borrowed between September last year and January this year, no amount has been allocated to finance the construction of an industry for income generation.
