By Brian Mboh
The Cameroon Telecommunications Corporation (CAMTEL) has secured the top position among the country’s best-performing state-owned enterprises, according to a recent classification released by the Ministry of Finance on August 13.
The new ranking, which is updated every three years in line with current regulations, evaluates public enterprises based on their financial and operational performance. In this edition, 34 state corporations were assessed, compared to 36 in January 2023 and 35 in 2020.
Topping the list alongside six other companies, CAMTEL recorded a turnover of FCFA 177.9 billion in 2023, marking a 17.79 percent increase from the previous year.
Among the state corporations, two others have also shown notable growth. The Cameroon Aluminum Company (ALUCAM), posted a turnover of FCFA 94.4 billion in 2024—though this represents a 10 percent decline from the FCFA 105.3 billion reported in 2023.
Meanwhile, the Autonomous Port of Douala (PAD) moved from the second category in January 2023 to the first category in the current ranking, having previously been placed in the third category in May 2020. The port generated a turnover of FCFA 114.19 billion in 2024, slightly down from FCFA 119.6 billion in 2023.
A new entrant to both the first category and the overall classification is the Cameroon Electricity Company (SOCADEL), formerly known as ENEO, which was taken over by the State in May 2026.
The National Electricity Transmission Company (SONATREL) remains in the second category, while seven companies find themselves in the third category. Leading that group is the national airline Camair-Co, which was placed in the fourth category three years ago.
This year’s classification also saw the removal of one company: the Cameroon Industrial Cotton Company (CICAM), which has been grappling with financial difficulties for several years. Additionally, the Cameroon Mortgage Credit Bank, previously in the fourth category, and a debt collection company formerly listed in the fifth category, have also been excluded.
According to the Minister of Finance, these two financial-sector public companies are now governed by specific provisions regarding the remuneration of directors and executives, in line with banking sector regulations.
The five-category ranking system—ranging from Category 1 to Category 5—is based on criteria including turnover, financial profitability, and regulatory classification by the Ministry of Finance.
Category 1 includes companies with turnover exceeding FCFA 100 billion; Category 2 covers those with turnover between FCFA 50 and 100 billion; Category 3, between FCFA 10 and 50 billion; Category 4, between FCFA 5 and 10 billion; and Category 5 comprises companies with turnover of FCFA 5 billion or less.
Minister Louis Paul Motaze noted in the decree that the classification reflects performance achieved during the 2022, 2023, and 2024 financial years. It is carried out “in application of the provisions of article 11 of decree no. 2019/321 of June 19, 2019 establishing the categories of public companies, the remuneration, allowances and benefits of their managers,” the ministerial decree states.
