Of the 372 billion CFA francs (approximately 665 million USD) needed to realize the Kribi refinery project, led by Cameroun Secured Tank Farm & Refinery (CSTAR), the National Hydrocarbons Company (SNH) has already mobilized 120 billion CFA francs (nearly 215 million USD). This represents 32% of the total amount to be disbursed for this industrial project, with the balance of 252 billion CFA francs (around 450 million USD) expected from other project shareholders, including Ariana Energy and Tradex S.A.
SNH’s contribution is part of an agreement signed on May 5, 2026 in Yaoundé between SNH, CSTAR, and BGFIBank, the latter having structured the operation on behalf of the manager of Cameroon’s interests in the hydrocarbons sector. This tripartite agreement is an important step in the effective realization of this project.
During the signing of this agreement, it was learned from the Managing Director of BGFI Bank Cameroon, Abakal Mahamat, that “the amount put on the table by SNH is the result of the mobilization of several Cameroonian banks.” Including Afriland First Bank, CCA Bank, SCB Cameroon, and BICEC.
Referring to this contribution, the Chairperson of the Board of Directors of CSTAR, Nathalie Moudiki, describes it as a “determining contribution.” And for good reason, she points out, “this first disbursement will allow the project company to honor its commitments to the international companies involved.”
On a technical level, it is understood that the refinery will have a capacity of 10,000 barrels per day. And from 2027, it will have a daily production capacity of 30,000 barrels. The construction of a storage depot with a capacity of 250,000 to 300,000 m³ is planned. The total cost of investments is estimated at 168 billion CFA francs (approximately 300 million USD), entirely financed by SNH’s own funds.
This project, which has received approval from the Central African States Bank (BEAC), is expected to generate potential currency savings estimated at 580 billion CFA francs (approximately 1.04 billion USD) for the Economic and Monetary Community of Central Africa (CEMAC). By producing 1.8 million metric tons per year, the Kribi refinery is expected to help reduce annual oil imports by 435 billion CFA francs (around 777 million USD).
