Cameroon's service sector has begun to benefit from the ongoing privatization of banking, transportation, and telecommunications services. In 1997, services employed an estimated 17 percent of Cameroon's workforce and produced 36 percent of its GDP. During the late 1990s, the government privatized the railroad operator and a mobile telephone company, as well as several banks and insurance companies. The state telephone company, Camtel, was offered for sale in 2000. Investments in the petroleum sector are expected to stimulate further growth in Cameroon's service sector.