HOST COUNTRY

Inflation is expected to gradually decline and reach 3.3% in 2024, thanks to the continued tightening of monetary policy by the Bank of Central African States (BEAC). The still favorable outlook is likely to be affected by the effects of geopolitical tensions. The imminent end of the crisis between Ukraine and Russia will reduce the risks and vulnerabilities affecting the smooth functioning of product supply chains, particularly energy supply chains. Furthermore, the private sector's contribution to financing green growth is necessary given the challenges and the amounts to be mobilized. According to Cameroon's updated NDC, the total cost of investments required to achieve the expected objectives by 2030 amounts to USD 57,640 million. Over the period 2015–2020, Cameroon was only able to mobilize USD 162.35 million as part of its Paris Agreement commitments. Of Cameroon's commitment of $380 million to climate finance, only 3% comes from the private sector. Engaging this sector is becoming one of the key challenges in implementing climate action that takes corporate social responsibility into account through the use of climate financing instruments such as bonds and green climate funds.

Cameroon could also leverage its significant natural capital as an alternative to climate and green growth financing. The country is rich in natural resources, which are insufficiently used to leverage green growth financing. Actions to reduce trade and illicit flows related to the exploitation of natural resources and better governance of these resources could generate greater revenues for green growth financing in Cameroon. With a semi-presidential political system marked by the separation of powers and a two-headed executive branch, including a head of state and a head of government, Cameroon continues to enjoy the status of a peaceful country. In addition to its linguistic and cultural diversity, Cameroon is both a member of the Commonwealth and La Francophonie and practices official bilingualism (English-French), close to the Canadian model, where two distinct legal systems coexist: British Common Law and French Civil Law. Efforts to strengthen this coexistence are being made by OHADA by making available Uniform Acts published not only in French but also in English.

Today, Cameroon is one of the African states that has initiated studies, the first in 2014 on the strategy for supporting and developing public policies on CSR. Its government has undertaken a process of co-developing public CSR policies, which has resulted in the establishment of a stakeholder dialogue platform and a bill on the orientation and promotion of corporate social responsibility in Cameroon.

Its sub-regional economic stability and the legal and judicial security advocated by OHADA are contributing factors to the business climate and investor attractiveness. Since its inception, Yaoundé has housed the headquarters of the OHADA Permanent Secretariat as the executive body of OHADA, responsible, among other things, for coordinating the activities of OHADA Institutions, preparing and monitoring the procedure for adopting Uniform Acts and other texts of the Organization. The choice of this country is thus largely justified by the stated desire of its authorities to promote CSR and support Cameroonian companies in its implementation.

These are the reasons that led to Cameroon being chosen to host the 3rd edition of FIPROD. This major event is now establishing itself not only as one of the most important events on our continent because it brings together, in addition to legal and accounting professionals, all potential stakeholders in the economic environment and those in sustainable development, but also to address development issues. The meeting is therefore scheduled for Yaoundé, the Cameroonian capital, from May 22 to 25, 2024.