Banks invited to finance electricity transmission projects

Speaking on February 10, 2015, over the signature of a conventional loan agreement amounting to 143,5 billion Cfa francs for the refinancing of the national refinery company (Sonara), the Cameroon Minister of energy and water, Basile Atangana Kouna welcomed the idea of financing major projects by local banks.

For example, in addition to the recent solicitude of a consortium of four banks (BGFI, Ecobank, Afriland First Bank and Société Générale) with regard to Sonara, Basile Atangana Kouna cited the involvement of local banks in emergency thermal programme, as well as in the construction of the Kribi gas plant, put in service in the first quarter of 2013.

Also, the Minister Atangana Kouna invited Cameroonian bankers to focus also on current electricity transmission lines construction projects in the country, which require significant funding which is not always available.

In addition, the Minister of energy and water pointed out to local bankers that the Cameroonian Government is currently engaged in the construction of infrastructure for the supply of drinking water across the country.

These projects, which benefit more from international financing, he said, can also be opportunities of investments for local banks.