The shareholders of Minkouma Energy Company S.A. approved the company’s first capital increase at an extraordinary general meeting held on Feb. 24, 2026. According to an official communication reviewed by Investir au Cameroun, share capital rose from 200 million CFA francs to 1 billion CFA francs, bringing it to five times its previous level.
While modest relative to the scale of the planned energy project, the increase marks a key step in the financial structuring of the future Minkouma complex in the Haute-Sanaga region. The detailed terms of the recapitalization were not disclosed.
The company said the operation is intended to bolster its financial profile ahead of discussions with technical partners and lenders expected to participate in the financing. “This development reflects reinforced confidence in the project’s vision, its structuring, and its ability to set a new benchmark in the electricity sector,” the statement said.
A 584 billion CFA francs project
Valued at approximately 584 billion CFA francs, the Minkouma project involves the construction of a hydroelectric dam combined with a solar component. Planned hydro capacity is estimated at 240–300 MW, complemented by a solar plant with projected capacity ranging from 50 to 300 MW.
The project aims to diversify Cameroon’s energy mix and improve supply security amid rising demand, particularly from industry.
According to the published timeline, the selection of project management firms is underway. Construction contracts are scheduled to be signed in June 2026, while financing agreements are expected to be finalized between September and November 2026. Construction is set to begin in December 2026.
CCA Bank has signaled its intention to lead a syndicate of local banks to finance the project. According to Minkouma Energy Company S.A., the bank “has expressed its interest in acting as lead arranger, with the objective of securing the full amount of local financing from a syndicate of national banks.”
If financial close is achieved within the announced timeframe, Minkouma could move from the planning phase to active construction, strengthening electricity supply and supporting Cameroon’s industrial development.
Amina malloum
