ENERGY : Minkouma Energy Increases Its Share Capital to CFA1 Billion
La voix des entreprises 
Justin Ntsama, Chief Executive Officer of Minkouma Energy Company SA
(LVDE) — In a context of rising energy demand, Minkouma Energy has reached a strategic milestone. The company has increased its share capital to CFA1 billion, up from CFA200 million previously, a move aimed at strengthening its financial credibility and reassuring technical partners and investors involved in the large-scale Upper Sanaga hydroelectric project.
In Yaoundé, the announcement has drawn the attention of the business community. By multiplying its share capital fivefold, Minkouma Energy is clearly signaling its ambitions in an electricity sector that requires massive investment. The capital increase is intended to reinforce the project company’s financial structure and facilitate the financing arrangement of an energy complex estimated at nearly CFA584 billion.
The project includes the construction of a hydroelectric dam with a capacity ranging between 240 and 300 megawatts, combined with a solar power plant whose capacity could vary between 50 and 300 megawatts. This hydro-solar combination aligns with the national strategy to diversify the energy mix, as Cameroon still relies heavily on hydropower, which accounts for more than 60% of national electricity production according to data from the Ministry of Water Resources and Energy.
Located in the Upper Sanaga region, the future Minkouma complex aims to help secure electricity supply, particularly for industries and major urban centers. Energy demand continues to grow steadily, driven by population growth and the expansion of manufacturing activities. According to World Bank statistics, the electricity access rate in Cameroon stands at around 65%, with significant disparities between urban and rural areas.
Several institutional milestones have already been reached. A memorandum of understanding was signed on January 26, 2024 between the Government of Cameroon and Cameroon Hydro Development for technical studies and site development. In November 2024, a joint development agreement was concluded, followed by the creation of the project company and the signing of the shareholders’ agreement. These steps reflect the gradual progress of the legal and financial structuring process.
Construction is expected to begin in December 2026, subject to the completion of the financial closing. For the authorities, the project forms part of the Industrialization Master Plan and the country’s emergence agenda by 2035. Beyond the infrastructure itself, Minkouma Energy aims to establish a new benchmark in electricity generation, relying on strategic partnerships and hybrid solutions adapted to climate challenges.
Anatole Bidias
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