By Trésor Daniel Mefire
The global carbon credit market, valued at more than $2 billion today and projected to exceed $50 billion by 2030, offers Africa one of its most significant opportunities for green growth, according to new research.
In a study titled “Carbon Credits: A Strategic Opportunity for Africa and Cameroon,” scholar Trésor Daniel Mefire argues that the mechanism — which allows companies and governments to offset emissions through verified projects — could deliver both climate protection and socio-economic development.
“Carbon credits represent a transformative opportunity for Africa and Cameroon to simultaneously address climate change, safeguard nature, and promote sustainable development,” Mefire said.
While Africa contributes less than 4% of global greenhouse gas emissions, its forests, grasslands, and renewable energy resources provide enormous carbon sequestration potential. The World Resources Institute estimates that Africa’s forests alone store over 171 gigatons of CO₂, equivalent to 15 years of fossil fuel emissions. Yet the continent captures only 2% of the global market’s financial value.
The Africa Carbon Markets Initiative (ACMI) has already secured $1 billion in purchase commitments for African credits, with Kenya leading the way through national regulations that channel revenues into schools, clinics, and conservation programs.
Cameroon, home to the Congo Basin rainforest — the second-largest tropical forest on earth — is seen as a potential leader. Its forests store more than 6.5 billion metric tons of CO₂, but weak regulation has left billions untapped. A World Bank report suggested the country could have lost out on $59 billion in climate compensation.
Projects in Cameroon, however, demonstrate the possibilities. A Dutch Green Business Group initiative aims to generate 6.9 million credits through reforestation, while clean cookstove programs have cut indoor air pollution by 70%, reducing respiratory diseases by 40%, according to the World Health Organization.
Rwanda’s model of mandating 30% community revenue-sharing has doubled local incomes in carbon project areas, an approach experts say Cameroon could adapt to ensure equitable benefits.
Still, challenges remain. Mefire points to limited technical expertise, weak regulatory environments, and lack of infrastructure as major barriers. He stresses that Cameroon must establish a national carbon registry and legal framework to attract investment and guarantee transparency.
“Without a dedicated registry and strong legal frameworks, Cameroon risks watching others profit from its natural wealth,” Mefire warned.
The African Development Bank has launched the Africa Carbon Support Facility to help countries bridge these gaps through policy reforms, training, and financing support.
For Cameroon and the continent at large, experts say the stakes are clear: carbon credits could mean the difference between economic stagnation and a new era of green, inclusive growth.
