Cameroon, the Diaspora and National Power: Beyond Mobilising Savings

Mobilising savings from Cameroonians living abroad requires more than offering attractive financial products. The funds raised must inspire confidence, serve clearly defined priorities and contribute to a coherent national ambition. Cameroonian banks have called for a central coordination hub to bring together financing mechanisms targeting the diaspora. Their proposal raises a broader strategic question and gives practical relevance to the ideas developed in Power 237, Dr Guy Gweth’s book on Cameroon’s strategy for achieving national power by 2050.

Mobilising Capital Is Not Enough to Build National Power

As Cameroon prepares its future National Strategy for Mobilising the Cameroonian Diaspora (SNMDC), banks are calling for a common framework to coordinate existing initiatives. The Caisse des Dépôts et Consignations du Cameroun (CDEC) is preparing an savings product called Diasdev, while the Société immobilière du Cameroun (SIC), the country’s real estate company, is developing a proposed “Diaspora Bond” to finance housing projects. These instruments may serve different purposes. Their coexistence, however, raises a crucial question: how can Cameroon prevent the multiplication of financing mechanisms from fragmenting available resources instead of directing them towards coherent investment priorities?

The diaspora should not be treated as an automatically available pool of capital. Investment decisions depend on confidence in institutions, transparency in the use of funds, clear terms and conditions, and credible safeguards. Attachment to one’s country of origin can encourage contributions to its development, but it cannot replace the economic and institutional conditions that make an investment worthwhile. Cameroon’s ability to mobilise diaspora savings sustainably will therefore depend as much on the quality of its financial instruments as on the confidence those instruments inspire.

From Savings to National Capacity for Action

In Chapter X of Power 237, entitled “Diaspora and Power”, the diaspora is presented as one of the potential drivers of Cameroon’s national ambition. This perspective extends beyond remittances. Cameroonians living abroad also possess professional expertise, international networks and knowledge of foreign markets that can support the country’s development and global reach. The strategic value of these resources lies in their ability to strengthen Cameroon’s capacity to act, rather than simply in their availability.

The value of these resources must be assessed in terms of what they enable Cameroon to achieve. Mobilised savings can finance housing, support productive investment or contribute to infrastructure development. Their strategic importance, however, depends on how these investments fit into national priorities and whether they strengthen the economy over the long term. Ultimately, what matters is not merely the amount of diaspora capital collected, but the extent to which these contributions are converted into economic capabilities and greater national capacity for action.

Coordination as a Tool for Strategic Coherence

The banks’ proposal would be particularly valuable if it helped clarify the roles of different financing mechanisms, make their terms easier to understand and ensure that they complement one another. A central coordination hub would not necessarily require every product to be managed by the same institution. Rather, it would provide a framework in which objectives, responsibilities and monitoring arrangements are clearly defined and understandable to both investors and public authorities. Without such coherence, even well-designed instruments could end up competing with one another or financing isolated projects with limited impact on the wider economy.

Resource allocation is equally important. The capital raised must be linked to identifiable projects whose implementation and results can be assessed. This requirement connects investor confidence with development objectives: the more transparent the use of funds and the more verifiable the commitments, the easier it becomes to build lasting relationships with the diaspora. Coordination will therefore be strategically meaningful not simply because an administrative structure exists, but because it improves the quality of financing and its contribution to national priorities.

Making the Diaspora a Pillar of Cameroon’s National Power

The future SNMDC will be shaped by the breadth of the relationship it seeks to establish with Cameroonians abroad. A policy focused primarily on remittances and financial products would mobilise only part of the diaspora’s potential, without necessarily drawing on its expertise and international networks. A broader approach would recognise these different resources as complementary while respecting the distinct ways in which each can be mobilised. The objective would extend beyond attracting funds to fostering the diaspora’s sustained participation in Cameroon’s economic development and international standing.

Cameroon’s national power will also depend on its ability to make the diaspora an active partner in development: an investor who understands how their capital will be used, a professional whose expertise can be shared, and a connector who can link the country to international networks. The coordination of diaspora financing advocated by the banks will achieve its full strategic significance only if it contributes to this wider ambition, allowing financial resources, professional capabilities and international relationships to reinforce one another.

The Editorial Staff