The Need and Financial Affordability of Alternative Social Protection Strategies in Cameroon
A 2015-2035 Actuarial Simulation
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Social protection can play a fundamental role in creating more inclusive and sustainable development pathways. Yet, over 80% of the global population has no access to comprehensive social protection. The importance of social protection for equitable progress as mapped out by the MDGs has been recognized in full only recently. The exercise of the right to social protection is denied to vast numbers of citizens across Africa because they do not have access to the existing schemes in most countries of the continent. The further expansion of social insurance remains a challenge as a result of low ...
Social protection can play a fundamental role in creating more inclusive and sustainable development pathways. Yet, over 80% of the global population has no access to comprehensive social protection. The importance of social protection for equitable progress as mapped out by the MDGs has been recognized in full only recently. The exercise of the right to social protection is denied to vast numbers of citizens across Africa because they do not have access to the existing schemes in most countries of the continent. The further expansion of social insurance remains a challenge as a result of low labor participation in the formal economy and the types of risks encountered by the poor. The President of Cameroon addressing the Nation on the 31st of December 2012, made a clarion call on the lone mandatory social insurance scheme operating in the father-land Cameroon, to extend coverage and enhance quality of service. Curiously, the need for alternative social protection strategies in a country with 10% social security coverage was not echoed. This study seeks to assess the need and financial affordability of alternative social protection strategies in Cameroon from 2015-2035.
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