Cameroon – The coronavirus pandemic has not only led to a change in the lifestyle of Cameroonians. The virus is also affecting their revenues and subsequently reducing the standards of living of millions of Cameroonians.
A recent survey carried out by the Cameroon National Institute of Statistics indicates that the Coronavirus pandemic has led to a decline in economic activities for about 74% of the Cameroonian population. Out of the population of over 21 million persons, 65% of them indicated that their income or salaries have reduced due to the decline.
Sectors badly touched by the Pandemic:
Small and medium-sized enterprises and service provider companies are amongst the sectors seriously affected by the Pandemic. Some hotels, restaurants, and night clubs had closed their doors in the wake of the pandemic. This was due to some barrier measures that were put in place by the president of the Republic through the Prime minister on March 18, 2020, to limit the spread of the Coronavirus on Cameroonian soil. The measures prohibited every gathering after 6 PM and banned large gatherings with a maximum number of 50. The 13 points to contain the Coronavirus also reduce the number of passengers in transport vehicles and buses. Although the measures were softened on April 30, 2020, the sectors are still battling to survive.
The National Institute of Statistics also revealed that about 60% of Cameroonians are experiencing a deterioration of their standards, with the North West region topping the chart with 79%. Breadwinners are unable to provide for their families and many of them complain of an increase in the prices of some basic commodities. This is so, despite the efforts made by the Country’s Ministry of Trade to control the prices of goods and services on the market.
Solutions by some Companies in Cameroon:
To reduce the glaring effects of the pandemic, the study carried out, the National Institute of Statistics indicates that about 62% of enterprises have resorted to reducing working hours. 44% have laid off some employees and 44% are reducing salaries to the detriment of their staff.
This information is contained in a recent study conducted by the Cameroon National Institute of Statistics.