CSTAR PROJECT : BGFIBank Cameroon finances implementation with 120 billion CFA Francs

(LVDE) – The framework agreement and financing arrangement mandate between the financial institution and the National Hydrocarbons Corporation (SNH), the promoter of the CSTAR project, in collaboration with Tradex and the Ariana/RCG consortium, were signed on November 4, 2025. This partnership aims to strengthen the country’s energy independence while reducing its reliance on imported petroleum products.

On November 4, 2025, a major milestone was achieved for Cameroon’s energy sector with the signing of a framework agreement between BGFIBank Cameroon and the National Hydrocarbons Corporation (SNH). During an official ceremony, Abakal Mahamat, Managing Director of BGFIBank, and Adolphe Moudiki, General Manager of SNH, formalized a key agreement for the financing of the CSTAR Project — a new oil refinery located in Kribi. This ambitious initiative seeks to transform the nation’s energy landscape by reducing dependence on petroleum imports, which currently account for 100% of domestic consumption.

The CSTAR project is part of a strategic vision to strengthen Cameroon’s refining capacity and ensure the energy security of the Central African subregion. In collaboration with Sonara, it also aims to create over 2,000 jobs and boost the local economy. The 120 billion FCFA financing provided by BGFIBank will support the construction of the refinery and a strategic fuel storage facility — key infrastructures to meet the growing demand for hydrocarbons.

Launched in July, the project is the result of a joint initiative between SNH, its subsidiary Tradex, and the Emirati consortium Ariana/RCG. With an expected 30% reduction in petroleum imports, Cameroon is positioning itself as a major energy and industrial hub in Central Africa. Acting as Arranger and Agent Bank, BGFIBank ensures a sound and well-structured financial arrangement tailored to the project’s specific needs.

In its ten years of operation in Cameroon, BGFIBank has distinguished itself through its involvement in strategic infrastructure projects. With cumulative investments reaching 200 billion FCFA, the bank has contributed significantly to the energy, industrial, and social infrastructure sectors. Its approach goes beyond traditional financing, encompassing project-specific advisory services, socio-economic impact assessment, and support for the project’s long-term viability.

This new refinery represents more than just an industrial venture ; it forms part of a sustainable development strategy designed to support the local economy and advance the country’s energy transition. By investing in large-scale infrastructure, BGFIBank reaffirms its commitment to supporting Cameroon’s journey toward energy independence while promoting inclusive growth.

The CSTAR Project stands as a cornerstone for the nation’s energy future. By reducing import dependency and generating employment, it has the potential to transform the local economy. The collaboration between BGFIBank, SNH, and their partners exemplifies successful synergy in the development of vital infrastructure for Cameroon.

The implementation of the CSTAR Project marks a significant step forward for Cameroon’s energy sector — promising not only to meet growing domestic fuel needs but also to establish the country as a key player in Central Africa’s energy landscape. BGFIBank’s financial backing is a testament to shared confidence and a common vision for a sustainable and prosperous future.

Raphael Mforlem