The Indomitable Lions suffered a humiliating defeat to Morocco in the semi-finals, while Guinea lost 5-4 on penalties to their West African counterparts Mali.
Cameroon finished second in Group A with five points to seal a place in the quarter-finals, where they secured an impressive 2-1 victory over 2016 champions Congo DR.
However, their hopes of lifting the prestigious African Nations Championship trophy on home soil were ended in the semi-finals by Morocco at the Limbe Omnisport Stadium on Wednesday.
In the other semi-final fixture, Guinea lost to 2016 finalists Mali on penalties, after it remained goalless at the end of 120 minutes at the Japoma Stadium.
Mali shot-stopper Djigui Diarra was the hero of the penalty shootout, as he managed to keep out Morlaye Sylla's spot kick, before Mamoudou Coulibaly blasted the Eagles into the finals with a well-taken penalty.
Up until their respective semi-final defeats, both Cameroon and Guinea had been impressive at the tournament, picking up two wins and two draws in the first four games.
Mpile and Guinea boss Kanfory Mohamed Bangoura will now go head to head for their first-ever medal since taking over each nation, as they square off for bronze on Saturday.
They have been inseparable in their three recent meetings, with each head coach picking up one win, one draw and falling to one defeat.
Guinea will be aiming to better their impressive 2016 run, where they fell to a 2-1 defeat against the Elephants of Ivory Coast in the third-place playoff game in Rwanda.
Guinea African Nations Championship form: WDDWL
Guinea form (all competitions): DLWDDD
Cameroon African Nations Championship form: WDDWL
Cameroon form (all competitions): LWDDWL
The Indomitable Lions have a clean bill of health, coming into this tie with no injured or suspended players.
However, AS Futuro's forward Joseph Yannick N'Djeng will be unavailable, after he was dismissed from the Cameroon camp for violent conduct when he was hooked off against Morocco.
Guinea have a full strength squad to select from, and Mohamed Bangoura will most likely name an unchanged XI from last time out.
Midfielder Mory Kante is expected to return to the fold after serving his one-match suspension for a sending-off in the quarter-finals victory over Rwanda.
Guinea possible starting lineup:
M Camara; N Camara, Doumbouya, A Camara, M Bangoura; I Camara, Sylla, Kante, Coumbassa; M Bangoura, Barry
Cameroon possible starting lineup:
Kerrido; Mamoudou, Banga, Matanda, Andoulo; Oukine, Tchuente; Etong, Zoua, Assomo; Soga
We say: Guinea 2-1 Cameroon
This promises to be a close one, as both Cameroon and Guinea are equally matched on paper. They have both failed to keep a clean sheet in their last three games, so we can expect goals scored at both ends of the pitch. However, Mpile's men should be able to steal it at the end of the day with the support of the roaring fans.