Banking and Communication activities supported service sector improvement in Q1 2022

The service sector in Cameroon performed well during the first three months of 2022, according to the National Institute of Statistics (INS). The information and communication services, and the banking services contributed 4.6% of the improvement, the report found. “Information and communication services increased by 13.4% over the period, after 4.7% the previous quarter, boosted by higher consumption of the Internet and greater use of mobile money. The segment contributed 0.3 points to quarterly GDP growth,” INS said in its report. Over the past decade, the Cameroonian government and telecom operators have made significant investments in telecom infrastructure, which have enabled…