Educated in the United States, Jacques Jonathan Nyemb is a business lawyer in Douala and the founder of The Okwelians, a network with thousands of members across four continents. He is also the author of Le Livre Vert, which is dedicated to Cameroon's transformation. His background, which combines legal expertise, an international network, and intellectual commitment, gives his insights a unique depth.

In this interview, Nyemb shares his vision for the country's structural transformation. He discusses the challenges and opportunities from 2018 to 2025, the roles of the state, the private sector, and the financial sector. He also offers ways to accelerate change, emphasizing the importance of leadership and social innovation.

Ecofin Agency: As a graduate of American universities, you chose to return and work in Cameroon. How has your international experience influenced your view of Cameroon's economic evolution since your return? What are the main transformations you've observed?

Jacques Jonathan Nyemb: My experience has reinforced a fundamental belief: In a world defined by constant shifts—whether they are demographic, digital, or environmental—Cameroon, "Africa in miniature" in the heart of the Congo Basin, must fully embrace its role on the global stage. We need to move past being a country of "potential" and become a genuine agro-industrial powerhouse. This is our chance to forge a new societal model for Africa and the world: one that is participatory, collaborative, and inclusive. To make this a reality, we must be consistently agile. That means being flexible enough to think globally while acting locally, to combine our traditions with modern approaches, and to integrate our local wisdom with international best practices. This is our country's challenge, and it's one we must rise to every day.

We need to move past being a country of "potential" and become a genuine agro-industrial powerhouse. This is our chance to forge a new societal model for Africa and the world: one that is participatory, collaborative, and inclusive.

Ecofin Agency: In your view, the period from 2018 to 2025 has been a "seven-year term of transformation despite the challenges." How do you evaluate this period overall? What do you consider to be the main successes and the unresolved challenges of this economic transformation?

Jacques Jonathan Nyemb: The last seven years, guided by the National Development Strategy 2030 (SND30), have put private initiative, industrialization, and social justice at the heart of our country's transformation goals. On the ground, Cameroon's entrepreneurial energy has created incredible economic resilience. We've also seen solid progress from new policies that have digitized our tax and customs systems, strengthened our ports, made key agricultural sectors like cocoa more professional, and opened vocational training centers.

But even with this progress, external crises like the COVID-19 pandemic and the war in Ukraine—along with many persistent domestic problems—have kept us from reaching our 2035 emergence targets. Our economic growth rate is still stuck at about 4%, far from our 8% annual goal. We urgently need to transform our economy by refocusing on the secondary sector. This will not only help us fight inflation, underemployment, and poverty, but also reduce our trade deficit and national debt.

Ecofin Agency: In your book, Le Livre Vert,  you advocate for building a "strategic and facilitating state." Concretely, how should the Cameroonian government evolve to better support the economy's structural transformation? What institutional reforms do you consider a priority?

Jacques Jonathan Nyemb: We must move past the idea of an all-knowing, all-powerful state and instead redefine its role as a strategic facilitator. In this new role, the government uses its power and resources to create an environment where lasting value can thrive. We believe this requires a new approach to public policy, built on three pillars. First, we need territorialization, which means giving real power to local governments, traditional leaders, and civil society organizations so they can drive sustainable change in their communities. Second, we must pursue specialization, creating dedicated agencies to boost innovation and performance in key public services, like data collection, project management, and digitalization. Finally, we need professionalization, overhauling the civil service through reforms and continuous training, and building better bridges for collaboration between the public and private sectors.

Ecofin Agency: Through your work with The Okwelians, you support young entrepreneurs and have a front-row seat to the Cameroonian business ecosystem. How would you describe the evolution of the private sector? What are the biggest obstacles still holding back local entrepreneurship, and what's the best way to tackle them?

Jacques Jonathan Nyemb: Through our Okwelians Venture Fund, we provide strategic and financial support to startups that can become national champions in Cameroon. We are convinced that a reformed private sector—especially a business community that's more inclusive, collaborative, and innovative—will strengthen Cameroon's economy and make our companies more competitive.

With a massive 95% of businesses operating in the informal economy, it is essential to fundamentally overhaul professional associations. This is key to addressing the critical challenges of providing information, support (like incubation and acceleration), and training for businesses, which are primarily micro, small, and medium-sized enterprises (MSMEs). This kind of reform would positively impact the structure of value chains, better align training with employment needs, and promote the sharing of production resources.

We are convinced that a reformed private sector—especially a business community that's more inclusive, collaborative, and innovative—will strengthen Cameroon's economy and make our companies more competitive.

Ecofin Agency: Financial inclusion is one of your key concerns in Le Livre Vert. What role should the Cameroonian financial sector play in supporting economic transformation? How can we improve access to finance for MSMEs and entrepreneurs?

Jacques Jonathan Nyemb: Financing and governance are core issues that undermine the competitiveness of our companies. To address this, we must push for greater financial inclusion, using fintechs to give all economic players—including those in the informal sector—access to essential services like micro-credit and micro-insurance. To fully empower the banking and insurance sectors to fund the Cameroonian economy, we need to take several key steps. We have to reduce the excess liquidity in the CEMAC region’s banking system, open up financial markets to micro, small, and medium-sized enterprises (MSMEs), and encourage investment capital. The government can also play a vital role by using various tools, such as guarantees, to help businesses secure the funding they need to grow.

Ecofin Agency: You emphasize the need to build a 'partnership of trust' between the government, the private sector, and civil society. How can this collaboration effectively accelerate sustainable transformation? What are your recommendations for making Cameroon a more attractive destination for investment?

Jacques Jonathan Nyemb: Our country must inevitably attract more foreign direct investment, particularly through public-private partnerships, to accelerate the structural transformation of our economy. To do this, we advocate for an ambitious national strategy to increase our appeal. This strategy should rest on two key pillars: first, reducing country risk and second, building the "Cameroon brand."

It's vital that we reduce country risk by significantly improving Cameroon's business environment, which is the only way to ensure greater security for investments. This means we must pursue ambitious reforms in areas like land rights, the digitalization of public services, the justice system's functionality, economic and budgetary governance, and the maturation of infrastructure projects. We could even work with the Investment Promotion Agency (API) to create a Cameroon attractiveness index, gradually establishing it as a compass for private investment in the country.

It's vital that we reduce country risk by significantly improving Cameroon's business environment, which is the only way to ensure greater security for investments.

Furthermore, building the Cameroon brand requires institutional, human, and operational investment in a true promotional campaign for "Destination Cameroon" and for Cameroonian expertise around the world. The government's planning, diplomacy, and economic intelligence must also be mobilized for this purpose.

Ecofin Agency: As a business lawyer, you see firsthand international investment flows and partnerships. How do you assess the role of the external sector in Cameroon's economy? What strategies do you recommend for optimizing the benefits of regional integration and international partnerships?

Jacques Jonathan Nyemb: Despite being long considered a rentier economy, Cameroon's economic landscape has been dominated by national players, particularly in the primary and tertiary sectors like trade, imports, and exports. More recently, the country has diversified its international partners, which has led to an influx of new foreign actors. In any case, Cameroon's goal of achieving endogenous industrialization must be built on three strategic pillars.

First, a strategic economic alliance with Nigeria is crucial. Second, a common trade strategy within the CEMAC/CEEAC is needed to effectively engage with the African Continental Free Trade Area. Third, we must forge new international partnerships, particularly those aimed at reshaping the global economic governance system.

First, a strategic economic alliance with Nigeria is crucial. Second, a common trade strategy within the CEMAC/CEEAC is needed to effectively engage with the African Continental Free Trade Area

Ecofin Agency: In Le Livre Vert, you stress that sustainability must be central to our country's structural transformation. How can Cameroon diversify its economy faster while still protecting the environment? And what sectors do you believe hold the most promise?

Jacques Jonathan Nyemb: Le Livre Vert argues for making the National Development Strategy 2030 (SND30) a tool for serving humanity and the living world. Building a living economy means placing sustainability at the very heart of our country's transformation agenda. This requires us to put local territories, local actors (like cooperatives, micro-businesses, and SMEs), and indigenous knowledge at the center of our industrialization efforts. This type of sustainable industrialization will lead to the production of high-value "Made in Cameroon" goods and services that have a competitive edge in the global economy. We can explore various sectors—such as cassava, flowers, and timber—to kick-start our agribusiness, pharmaceutical, and cosmetics industries. The National Investment Corporation will play a decisive role in stimulating this productivity and supporting private initiatives in these key areas.

We can explore various sectors—such as cassava, flowers, and timber—to kick-start our agribusiness, pharmaceutical, and cosmetics industries. The National Investment Corporation will play a decisive role in stimulating this productivity and supporting private initiatives in these key areas.

Ecofin Agency: You've identified a "trust deficit" as a major challenge. How can we restore confidence among different economic actors? What governance and transparency measures do you recommend to create a more favorable economic environment?

Jacques Jonathan Nyemb: In today's participatory era, public decisions must be co-created with the people they affect. This makes civil society, including the private sector, a key partner in prioritizing, formulating, implementing, and evaluating public policies. This approach is the only way to make accountability central to our work and rebuild trust between the public and private sectors, which are both committed to Cameroon's sustainable transformation.

To this end, our "Think Do Tank" has proposed several initiatives. These include making the Economic and Social Council operational, creating a multi-stakeholder dialogue framework for the state, the private sector, and civil society, and establishing a national public information platform. These actions will help reduce the mutual suspicion and distrust that currently exists between private and public actors.

Ecofin Agency: The Okwelians promotes a "culture of social innovation." How can Cameroon better leverage its human capital and local knowledge? What role can the Cameroonian diaspora play in this transformation, following your own example?

Jacques Jonathan Nyemb: I am convinced that our national human capital—whether local or from the diaspora—must be at the heart of Cameroon’s sustainable transformation. When it comes to the diaspora, we are specifically advocating for administrative, tax, and customs incentives that will make it easier for them to invest their human, material, and financial resources for the benefit of Cameroon.

More generally, building the human capital of tomorrow for Cameroon requires a unique approach—a true pact that brings public and private sectors together around a common goal for research, training, and employment. This shared ambition must instill Cameroonian civic values in our future workforce and equip them with the soft skills necessary to stand out as entrepreneurs or intrapreneurs, such as ethics, leadership, and creativity. They also need to acquire the hard skills that align with current and future job opportunities. In this regard, technical education must once again be given a prominent role. Ultimately, the society of tomorrow requires us to rethink work in all its forms—new and old—but, above all, to put excellence and, ultimately, merit back at the center of our society.

Ecofin Agency: Your analyses highlight the importance of the "ecological, digital, and energy transitions." How can these transitions become growth drivers for the Cameroonian economy? What public policies and private investments do you recommend in these areas?

Jacques Jonathan Nyemb: Energy, digital technology, and ecology are the building blocks for sustainable industrialization. Digital tech makes it easier to access knowledge and supercharges productivity, while energy powers production and ecology ensures it lasts.

Because of this, we believe that embracing the ecological, energy, and digital transitions will be a turning point for Cameroon. We need to quickly invest in artificial intelligence, renewable energy, and green finance to boost our economy.

Ecofin Agency: Looking ahead to 2035, what is your vision for the Cameroonian economy? What are your top three strategic recommendations for making Cameroon the proud, prosperous, and inclusive nation you've envisioned, and how will you measure the success of that transformation?

Jacques Jonathan Nyemb: The biggest challenge our economy faces is moving from resilience to shared prosperity. That's why last March, at our first international economic summit, The Okwelians Summit, we brought together over 300 people from more than 20 countries. Our goal was to find the right solutions to make this paradigm shift a reality.

We believe the 37 strategic and operational recommendations in the Green Book can help us fully unlock Cameroon's potential. Our key indicators of success will be an increase in household purchasing power, full employment for young people, and the overall well-being of the population.

With Business in Cameroon