Market Research In Central African Republic

Central African Republic Profile:

  • The Central African Republic is a landlocked country in Central Africa. The CAR is a member of the Organization for the Harmonization of Business Law in Africa (OHADA).
  • The country had the lowest level of human development, ranking 188th out of 188 countries and was ranked 183rd of 183 as regards to ‘ease of doing business’.
  • The country is estimated to be the unhealthiest country as well as the worst country in which to be young.
  • The Central African Republic is heavily dependent upon foreign aid and numerous NGOs provide services that the government does not provide.
  • Factional fighting between the government and its opponents remains a drag on economic revitalization.

Central African Republic Economy:

  • Despite its significant mineral deposits and other resources, such as uranium reserves, crude oil, gold, diamonds, cobalt, lumber, and hydropower, as well as significant quantities of arable land, the Central African Republic is among the ten poorest countries in the world.
  • Subsistence agriculture, together with forestry and mining, remains the backbone of the economy of the Central African Republic (CAR), with about 60% of the population living in outlying areas.
  • The agricultural sector generates more than half of GDP. Timber and diamonds account for most export earnings, followed by cotton.
  • Important constraints to economic development include the CAR’s landlocked geography, poor transportation system, largely unskilled work force, and legacy of misdirected macroeconomic policies.
  • Distribution of income is extraordinarily unequal. Grants from France and the international community can only partially meet humanitarian needs.

Central African Republic Facts:

  • Population: 5.6 million
  • Capital: Bangui
  • Largest city: Bangui
  • Area: 622,984 sq km
  • Major language: French (official), Sangho (lingua franca and national language), tribal languages
  • Major religion: indigenous beliefs 35%, Protestant 25%, Roman Catholic 25%, Muslim 15%
  • Life expectancy: 51.4 years (Male), 54.2 years (Female)
  • Monetary unit: 1 Franc CFA(CFA Fr, XAF) = 100 centime
  • Main exports: Diamonds, timber, cotton, coffee
  • GNI per Capita: $700

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