Money and budget in Cameroon: CFA franc, cards, mobile money

The Central African CFA franc

The CFA franc used in Cameroon (code XAF) is issued by the Bank of Central African States (BEAC), shared by the six CEMAC countries: Cameroon, the Central African Republic, Congo, Gabon, Equatorial Guinea and Chad. Its value has been fixed at 655.957 CFA francs to the euro since 1 January 1999, with convertibility guaranteed by the French Treasury. The maths is easy: 10,000 CFA francs is roughly €15.24, and €1 a little over 650 CFA francs.

Be aware that the West African CFA franc (XOF, issued by the BCEAO for Senegal, Côte d'Ivoire and others) has the same value but is not the same currency: its notes are not accepted in Cameroon, and vice versa. On 15 December 2022 the BEAC introduced a new range of banknotes, the '2020 series', more compact and better secured, followed by a new series of coins in 2024. Notes range from 500 to 10,000 CFA francs.

Changing money, ATMs and cards

• Foreign currency: euros and US dollars are the easiest to change, according to the UK Foreign Office; sterling travellers' cheques are hard to exchange.
• ATMs: Visa and Mastercard withdrawals are possible at many banks in the big cities; according to Wikivoyage, every Ecobank ATM in the country accepts both networks. Outside the large towns ATMs are scarce (Foreign Office).
• Fees: the Foreign Office warns that cash withdrawals from UK bank accounts carry heavy fees. Check with your bank before you travel.
• Card payments: most hotels do not take cards, according to Wikivoyage. Plan to pay for most things in cash, in small notes, with a reserve for trips outside the cities.

Mobile money, the number-one way to pay

Paying by phone has become Cameroonians' everyday tool. According to the BEAC's 2024 payment services report, the country had 30,992,177 mobile money accounts, which carried out 2.7 billion transactions worth 26,773 billion CFA francs, or 76.9% of the CEMAC total. The two big services are MTN Mobile Money (MoMo) and Orange Money. People use them to pay shopkeepers, taxis and bills, top up airtime or withdraw cash from countless agents.

For a foreigner, access starts with a Cameroonian SIM card registered in your name (see the phone and internet page), then opening an account with the operator or an approved agent. For MTN MoMo, the Infos Pratiques guide (May 2026) mentions only the Cameroonian national ID card and the *126# menu. Neither operator publishes a clear online procedure for short-stay visitors, so ask in a branch with your passport. It is worth it: Camrail, for example, accepts only mobile money for tickets bought online (Seat61, January 2026), and the e-visa can be paid by card or mobile money.

Since the 2022 finance law, a 0.2% tax has applied to mobile money transfers, despite reservations from the BEAC reported by Financial Afrik. Each operator's own fees vary by amount band.

Sending money from abroad

Money transfer apps credit an MTN MoMo or Orange Money account directly. With Taptap Send, for instance (terms checked in October 2026), transfers arrive in under five minutes, capped at 500,000 CFA francs per transfer to MTN and 1,000,000 to Orange Money; fees are €1 or €2 from the European Union, plus the exchange-rate margin. Diaspora remittance figures and other channels are covered on the page about returning from the diaspora.

Some sourced prices

For accommodation, the Wikivoyage guide gives a range of 7,500 to 50,000 CFA francs a night in the big cities, without a date: treat it as a rough guide. No reliable dated source was found for the price of a restaurant meal. The official taxi and coach fares date from February 2024, following a 15% rise in fuel prices on 3 February 2024.

Bargaining and tipping

Outside shops and restaurants, prices are open to discussion: in markets, with street vendors, for a private taxi or a motorbike ride. Wikivoyage suggests aiming for 20 to 50% of the first price quoted. Even coach fares, the Commerce Minister notes, are negotiated between passenger and operator depending on the route. As for tipping, none of the reliable sources consulted sets out a custom, and there is no official rule.

Frequently asked questions