A community forestry approach was adopted by Cameroon as a strategy to promote the sustainable management of forests, participation by local communities in forest management, and poverty alleviation. However, results have been moderate and community forestry has largely failed in achieving its initial goals. Our work, based on existing literature, uses the three inter-related dimensions of equity: distributive, procedural, and contextual to highlight the main equity challenges encountered in implementing the community forestry approach over the past 20 years in Cameroon. The main constraints to distributive equity identified include: the absence of clear benefit-sharing mechanisms and rents capture by elites, insecure tenure, and limited use rights of forest resources. Regarding the procedural dimension, we observed an exclusion of vulnerable groups, especially women, and a lack of information flow and transparency in decision-making processes. Finally, for contextual equity, the main constraints are unfair laws and regulations that give more advantages to the state and logging companies than to the local population. Moreover, poor community capacities and high transaction costs in the process of obtaining and exploiting community forests are additional constraints to contextual equity. The authors recommend a few measures to improve community forestry contribution to socioeconomic development, equity in benefit sharing, and sustainable management of forest resources. These include the need: (1) to promote transparency in community forests management with fair and gender-based policies that consider socioeconomic differences existing within and between forest communities; (2) to strengthen local community members financial and technical capacities and increase their representation and participation in decision-making structures; and (3) to set up mechanisms that guarantee existing policies are fully implemented.