Kribi Oil Refinery Project: Funding Sourced For Construction

The multi-billion oil refinery project being undertaken in Cameroon’s seaside resort city, Kribi, by the National Hydrocarbons Corporation (SNH) - Kribi Oil Refinery Project, has received a fresh boost and work on the field could step up in the days or weeks ahead. Thanks to a funding agreement reached last year (November 4, 2025) between the project owner and BGFI Bank Cameroon for the latter to source for funding, FCFA 120 billion has been fetched through partnership with other local financial institutions to take the project off the ground. The Executive General Manager of BGFI Bank Cameroon, Abakal Mahamat, and Nathalie Moudiki, Chairlady and Chief Executive Officer of Kribi Oil Refinery Project, representative of the Executive General Manager of SNH, signed an agreement in Yaounde yesterday May 5, 2026 to make available the sourced funds. This was in the presence of other officials of the two structures as well as partners of the project, which is said to herald a lot for the country. Speaking during the ceremony, Mrs Moudiki saluted the involvement and contribution of BGFI Bank to realising the dream. She said the agreement marked a decisive step in executing the project. “I wish to sincerely thank you for the efforts. It is fruit of your seriousness, credibility and professionalism. Your support comforts us in our efforts to ensure energy sufficiency in our country as wished by the President of the Republic,” Mrs Moudiki said. While promising to immediately get down to work, the CEO of CSTAR Project told the funding body that, “SNH will honour the commitment, the Fatherland will bless you. Extend our hearty appreciation to all who contributed to funding the project.” Meanwhile, the Executive General Manager of BGFI Bank Cameroon described the partnership with SNH as sign of confidence placed on the financial institution and his person which could not be toyed with. He said it was first of all an honour for the bank to be given such a responsibility by a worthy partner and a privilege as Cameroonians to contribute in executing such a lofty project for the country. Mr Abakal Mahamat extended ...