In colonial times,
western Cameroon and eastern Cameroon were administered separately by Britain and France
respectively. At the time of independence in 1960, the northern part of western (British)
Cameroon decided to be part of neighbouring Nigeria, whereas the southern part of western
(British) Cameroon and French Cameroon joined to form the Republic of Cameroon.
Because of its oil
resources and favorable agricultural conditions, Cameroon has one of the best-endowed
primary commodity economies in sub-Saharan Africa. The development of the oil sector led
to rapid economic growth between 1970 and 1985. Growth came to an abrupt halt in 1986,
precipitated by steep declines in the prices of major exports: petroleum, coffee and
cocoa. Since 1990, the government has embarked on various IMF and World Bank programs
designed to spur business investment, increase efficiency in agriculture, improve trade,
and recapitalise the nation's banks. It was after the devaluation of CFA franc in 1994
that the economy began to recover. Cameroon has extensive deposits of natural gas,
bauxite, iron ore, uranium rutile, cobalt and nickel which are awaiting exploitation.
Timber from natural forests has become one of the leading export commodities. In the
political scene, Cameroon embarked in a multiparty democratic reform in the 1990s after a
period of an authoritarian rule.
In 2000, Cameroon's
telecommunications network had a total of 94,600 connected telephone lines, giving
a telephone density of 0.64 line per hundred people.
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