Camtel, Cameroon’s state-owned telecom operator, is gearing up to break into the mobile money arena in 2026 with Blue Money, a service the Ministry of Posts and Telecommunications has placed among the company’s upcoming projects. Minister Minette Libom Li Likeng confirmed the initiative, which points to Camtel’s late move into a market long shaped by MTN Mobile Money and Orange Money.
Legal filings reveal that Blue Money begins its journey with CFA500 million in initial capital. The service will be steered by its appointed board chairman, Jean Marie Aimé Ottou, who is tasked with guiding the financial platform from development to launch. Camtel steps into a sector where MTN and Orange have held a firm grip, handling more than 80% of Cameroon’s electronic transactions.
Competition has intensified following the entry of U.S. fintech Wave, known for its zero-cost deposits and withdrawals and a 1% transfer fee. Wave operates under the supervision of the Central African Banking Commission, works with Commercial Bank Cameroun (CBC), and continues to expand its coverage across the country.
Camtel’s Position and Obstacles
Blue Money enters a market with strong incumbents, but Camtel holds one advantage: control of key telecom infrastructure. The operator manages the national fibre backbone, several major networks, and has long operated in rural areas where mobile financial services remain underdeveloped.
The challenge for Blue Money is converting this infrastructure into everyday value for users. This includes clear pricing, simple onboarding, a wide agent network, consistent system performance, and a useful set of services such as merchant payments, bills, and transfers. Since MTN and Orange customers already have established habits, Blue Money will need a clear reason for people to try a new option.
Market Growth
According to the Bank of Central African States (BEAC), mobile money activity in Cameroon grew 3.6× between 2019 and 2023. The value of transactions increased 2.5× over the same period.
- Transaction value rose from CFA8,812.1 billion in 2019 to CFA22,137 billion in 2023.
- Transaction counts increased from 615 million in 2019 to 2.2 billion in 2023.
- The country passed 1 billion transactions for the first time in 2021 and added more than 600 million new transactions in 2023 alone.
Cameroon now leads the CEMAC region with:
- 62.11% of all registered mobile money accounts
- 63.58% of all transaction volume
- 76.57% of the total value of mobile money activity
Blue Money’s Next Steps
Camtel aims to take a place in a sector that has become one of the busiest parts of Cameroon’s financial system. Whether Blue Money can secure that place will depend on how well the company handles pricing pressure, competition from MTN and Orange, and the presence of low-cost fintechs like Wave.
Blue Money’s long-term position will rely on Camtel’s ability to provide a reliable, easy-to-access, and widely distributed service that meets users’ daily needs without relying on vague promises. If Camtel can meet those requirements, Blue Money may carve out a space in Cameroon’s mobile money market.
