The Autonomous Port of Douala (PAD), often hailed as the “economic lung of Cameroon,” is navigating a complex financial trajectory, balancing growth with periods of underperformance, according to nearly a decade of financial data.
The port, a cornerstone of Cameroon’s economy, generates approximately 85% of national customs revenue and 21.5% of the state’s internal revenue, while accounting for nearly half of local employment and 18% nationally, figures highlighted by PAD’s Director General Cyrus Ngo’o in 2023.
PAD’s recent financial history reflects three distinct phases: a restart, rapid expansion, and a period of tense consolidation.
The first full year under Ngo’o’s leadership in 2016 laid modest but stable foundations, with net income of 940.5 million CFA francs and pre-tax profits of 2.16 billion CFA francs.
However, 2017 saw a sharp decline, with net income falling to 455.5 million CFA francs amid a slowdown in port activities and operational inefficiencies.
A turnaround emerged in 2018, when turnover nearly doubled to 60 billion CFA francs, accompanied by net income of 2.043 billion CFA francs.
This upward trend continued until 2021, reaching a peak net profit of 22.605 billion CFA francs. Since 2022, however, profits have shown a downward trend, declining to 16.059 billion CFA francs, then 14.44 billion in 2023, largely due to negative results from Douala Port Security (DPS) and the Delegated Dredging Authority (RDD), which posted a combined loss exceeding 7.5 billion CFA francs.
The 2024 accounts confirm this slowdown, with net profits falling further to 12.5 billion CFA francs and turnover slipping slightly from 119.6 billion CFA francs in 2023 to 114.1 billion CFA francs.
Despite these fluctuations, the port’s balance sheet remains robust, reaching 505.4 billion CFA francs at the end of 2024, indicating strong structural foundations.
PAD’s performance illustrates the challenges of managing a strategic national asset: sustaining growth, modernizing infrastructure, and maintaining profitability amid operational and sectoral constraints.
Analysts suggest that while the downward trend warrants attention, the port’s continued structural expansion offers a solid platform for future stability and strategic development.
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