The National Hydrocarbons Corporation – SNH and BGFIBank Cameroun formalized a landmark financing agreement on May 5, 2026, securing 120 billion CFAF for the CSTAR Refinery project.
Signed at the SNH headquarters in Yaounde on May 6, 2016 by Adolphe Moudiki and Abakal Mahamat, the funding represents SNH’s direct contribution to the industrial venture, joining forces with strategic partner Ariana Energy.
This modular refinery is a cornerstone of Cameroon’s broader strategy to enhance domestic petroleum processing and reduce reliance on external energy sources.
The project is designed for rapid scalability, targeting an initial output of 10,000 barrels per day by December 2026, with plans to triple that capacity to 30,000 barrels per day by 2028. While SNH is leveraging external financing for the refinery’s construction, the critical storage infrastructure—the project’s tank farm—is being funded entirely through SNH’s internal reserves. This hybrid financing model underscores the project’s strategic importance to the nation’s energy sovereignty.
From a macroeconomic perspective, the CSTAR Refinery is poised to be a game-changer for Cameroon’s trade balance. Once fully operational, it is expected to produce 1.5 million metric tonnes annually, covering roughly 30% of national consumption and slashing import costs by an estimated USD 750 million per year.
Furthermore, the facility will generate USD 250 million in annual marine fuel exports, leading to a total foreign exchange saving of approximately USD 1 billion (580 billion CFAF) annually.
The financing round, led by BGFIBank Cameroun, also saw participation from major local institutions including Afriland First Bank, CCA-Bank, SCB Cameroun, and BICEC. This collective banking effort highlights the financial sector’s confidence in SNH’s credibility and the project’s long-term viability.
By fostering local industrialization and stabilizing the domestic fuel market, the CSTAR partnership serves as a vital pillar for Cameroon’s 2035 emergence goals.
