Cameroon plans to secure CFA300 billion in budget support in 2027 through a new economic and financial program with the International Monetary Fund (IMF). Although the funding remains conditional, the government has already incorporated it into its financing plan for next year’s budget, which projects total financing needs of CFA3.1615 trillion.

The projections appear in the 2027-2029 Medium-Term Economic and Budget Programming Document (DPEB) prepared by the Ministry of Finance and submitted to Parliament during the annual budget orientation debate.

The expected IMF-related budget support would account for 9.5% of Cameroon’s projected financing requirements in 2027.

The government’s financing framework also includes CFA866.7 billion in project loan disbursements, CFA400 billion from domestic bond issuances, CFA250 billion in direct bank financing and CFA131.5 billion from state reserves held at the Bank of Central African States (BEAC).

In addition, the government plans to raise CFA1 trillion through a new external borrowing operation after scheduling a financing exercise of the same size in 2026.

Government Identifies Major Fiscal Risk

The government no longer considers a new IMF program merely as an option. Instead, it has made the program a central assumption in its medium-term fiscal framework.

The DPEB states that “the financing of the 2027 to 2029 budgets depends on the expected budget support resulting from the conclusion of a new Economic and Financial Program with the IMF.”

The document also describes the absence of such an agreement as a “major risk” to the medium-term sustainability of public finances.

The government projects an overall budget deficit of CFA1.018 trillion for 2027, up from CFA808.5 billion in 2026. Consequently, the CFA300 billion in conditional IMF-related budget support would cover nearly 30% of the projected deficit.

Moreover, Cameroon expects financing and treasury requirements of CFA2.1435 trillion, largely driven by debt repayments and arrears clearance. Financial debt repayments alone would total CFA1.6025 trillion.

If Cameroon fails to conclude a new IMF program, the government would need to replace the expected CFA300 billion through additional borrowing, stronger domestic revenue mobilization, larger withdrawals from government cash reserves or spending cuts.

That scenario would emerge in an already challenging financing environment.

The Ministry of Finance noted that borrowing costs in the domestic market have increased, interest rates remain elevated and the local financial market still lacks sufficient depth. Those constraints reduce the government’s ability to replace concessional or relatively low-cost budget support with alternative financing.

Finance Ministry Says IMF Programs Mobilized CFA2.6 Trillion Since 2017

Finance Minister Louis Paul Motazé had already defended the renewal of Cameroon’s partnership with the IMF during a Cabinet meeting on Oct. 30, 2025. The previous IMF program, agreed in 2021 and later extended by one year, expired in July 2025.

According to Motazé, the two successive IMF-supported programs implemented between 2017 and 2025 enabled Cameroon to mobilize about CFA2.6 trillion in budget support from the IMF and other development partners.

“We would no longer receive these resources if we failed to conclude a new program with the IMF. That means we would have to find alternative sources of financing. That is why we believe it is necessary to begin discussions on a new agreement,” Louis Paul Motazé said.

The financing associated with an IMF program does not come solely from the Washington-based institution.

An IMF agreement also serves as a policy signal for the World Bank, the African Development Bank, the European Union and bilateral development partners, which may condition their financial support on the implementation of reforms and compliance with macroeconomic targets.

Accordingly, the government views the future IMF program as a tool to facilitate access to financing, preserve debt sustainability and create additional fiscal space for public investment.

Nevertheless, the DPEB does not rely exclusively on IMF support to strengthen public finances.

The government’s strategy also aims to broaden the non-oil tax base, modernize revenue collection agencies and rationalize current expenditure in favor of priority public investment.

Regional Approval Remains a Prerequisite

In October 2025, Prime Minister Joseph Dion Ngute referred the decision to launch IMF negotiations to the Presidency of the Republic.

However, the explicit inclusion of a new IMF program in the DPEB shows that the government now considers such an agreement as the central scenario underpinning its fiscal strategy.

That does not mean Cameroon has already secured a deal.

The government must still negotiate macroeconomic objectives, structural reforms, fiscal measures, financing conditions and any prior actions with IMF staff before the institution’s Executive Board can consider a new program.

In addition, the process depends on developments within the Economic and Monetary Community of Central Africa (CEMAC).

Under the regional framework, IMF-supported national programs require regional policy assurances, particularly regarding monetary policy, foreign exchange reserves and the consistency of member states’ fiscal policies.

According to the authorities, the review of CEMAC’s common policies, initially scheduled for December 2025, has been delayed because national fiscal policies have not yet aligned sufficiently with the regional strategy and because member states have not finalized the policy assurances accompanying the reform agenda.

Although regional approval remains a prerequisite, it will not automatically trigger a new IMF program for Cameroon.

Yaoundé must also negotiate a separate agreement with the IMF on its own macroeconomic and fiscal framework.

For the government, the timetable has become increasingly important.

By already incorporating CFA300 billion in conditional budget support into its 2027 financing plan, Cameroon has made a future IMF agreement one of the foundations of its fiscal strategy. If negotiations fail to conclude on time, the government will have to bridge the financing gap through additional debt issuance, spending adjustments or greater reliance on treasury resources.

Source: Business in Cameroon

Cameroon paid CFA29.5 billion in interest and fees on public debt in June 2026. These financing costs accounted for 9% of the CFA327 billion used to service debt during the month, excluding arrears and redemptions of fungible Treasury bills, known as BTAs.

Of the total paid in June, CFA297.5 billion, or 91%, went toward principal repayments, which reduce the amount of debt outstanding. The figures come from the Autonomous Sinking Fund’s (CAA) public debt report as of the end of June 2026, in the version dated July 27.

Interest and Fees Near CFA150 Billion in Six Months

Between January and June 2026, Cameroon spent CFA1.06 trillion servicing central government debt. Of that amount, CFA909.4 billion, or 85.8%, went toward principal repayments. Interest and fees accounted for the remaining CFA149.9 billion, equivalent to 14.2% of first-half payments.

The CFA29.5 billion paid in June represented 19.7% of all interest and fee payments made during the first half. It was also above the monthly average of nearly CFA25 billion recorded over the period.

External debt service totaled CFA62.9 billion in June, including CFA54.9 billion in principal and CFA8.1 billion in interest and fees, based on rounded figures. It reached CFA444.5 billion in the first half. The CAA said all external payments due by the end of June were made within contractual deadlines, with no arrears recorded.

Domestic debt, excluding arrears, accounted for most of the month’s payments. Domestic debt service totaled CFA264.1 billion in June and CFA614.8 billion over the first half. Government securities, excluding BTAs, represented 76.4% of domestic payments made between January and June.

June Interest Bill Equals Nearly 60% of Unstructured Debt

The interest and fees paid in June were equivalent to nearly 60% of the central government’s unstructured debt stock. That stock was estimated at CFA49.4 billion at the end of June 2026, down from about CFA51 billion at the beginning of the year.

The comparison illustrates the scale of the government’s interest burden, but it involves two different measures: a one-month flow and a debt stock measured at a specific date. Interest payments are also contractual obligations and cannot automatically be redirected toward settling other government liabilities.

The CFA327 billion in debt service reported for June does not cover all domestic obligations. The CAA excludes arrears, which stood at CFA703.5 billion at the end of June, pending final reconciliation of Treasury payment data. Bills unpaid for more than three months totaled CFA588.4 billion, or 83.6% of that amount.

Arrears are government expenditures that have completed the authorization process but remain unpaid. Their exclusion means the reported debt-service figure does not capture the government’s full stock of unpaid obligations or any subsequent payments made to clear them.

BTA Redemptions Also Excluded

The CAA also excludes redemptions of fungible Treasury bills. These short-term securities are issued at a discount: the Treasury receives less than their face value but repays the full amount at maturity. The interest is therefore effectively paid upfront through the discount at issuance rather than through periodic coupon payments.

The distinction between principal and interest is critical when assessing the budgetary burden of public debt. Principal repayments reduce the amount outstanding, while interest and fees represent borrowing costs without reducing the principal owed.

That burden is expected to increase in the coming years. The 2027-2029 Economic and Budget Programming Document projects debt interest payments of CFA552.4 billion in 2026, rising to CFA605.3 billion in 2027 and CFA707.8 billion in 2029.

The pressure on public finances therefore stems not only from the size of the debt stock, but also from the growing share of government resources required to cover interest and fees. As these costs rise, they could leave less room for other budget priorities.

Source: Business in Cameroon

Cameroon and the United States have discussed opportunities for American companies to participate in future water and energy projects in the country.

Water and Energy Minister Gaston Eloundou Essomba held talks with John G. Robinson, Chargé d’Affaires ad interim at the US Embassy in Cameroon, on July 24, 2026. The meeting focused on cooperation prospects, investment opportunities for American businesses and reforms underway in the two sectors.

The discussions covered technical cooperation, industrial partnerships and financing arrangements to support infrastructure modernisation, energy security and access to drinking water.

According to the US Department of Commerce, Cameroon plans to add at least 3,500 MW of generation capacity and provide about one million new electricity connections over the next decade through grid expansion, densification and mini-grid projects. The agency said these plans could create opportunities for US companies in power generation, transmission, distribution, renewable energy and energy infrastructure services.

According to information released after the meeting, Eloundou Essomba also presented developments in the electricity sector, including the creation of the Cameroon Electricity Company, SOCADEL, following the State’s takeover of Eneo’s activities.

The two sides also discussed measures to address the electricity sector’s debt, estimated at about FCFA 800 billion, and improve the quality and reliability of power supply. They reviewed work to reduce grid overloads, install new transformers and carry out technical interventions in sensitive areas.

The talks come after Robinson said at PROMOTE 2026 in Yaounde that Washington was prioritizing investment, financing and private-sector partnerships in Cameroon, with a focus on expanding trade and business ties.

US companies already have a presence in the country’s energy sector. General Electric has previously been associated with major power projects in Cameroon, while Chevron reaffirmed its commitment earlier this year to the Yoyo-Yolanda cross-border gas development project between Cameroon and Equatorial Guinea.

Source: Business in Cameroon

Over the past five years, the fiscal revenue shortfall caused by discrepancies between officially declared gold exports and volumes shipped abroad is CFAF577.51 billion in Cameroon. The figure was presented as part of ongoing reforms announced during a joint press briefing in Yaounde by Acting Minister of Mines, Industry and Technological Development, Fuh Calistus Gentry, and Minister of Communication and Government Spokesperson, René Emmanuel Sadi.

According to data released by mining authorities, Cameroon officially recorded only 1.897 tons of gold exports through Customs and the National Mining Corporation, SONAMINES, between 2021 and 2025. Meanwhile, authorities estimate that 46.219 tons of gold were likely exported during the same period.

The resulting discrepancy of 44.322 tons represents gold that authorities say was exported without corresponding declarations in official records. Government estimates place the value of the undeclared volume at CFAF 1,941.19 billion, with the resulting fiscal revenue shortfall estimated to be CFAF 577.51 billion.

Data show that the largest discrepancies occurred in 2023 and 2024. In 2023, officially declared exports amounted to about 742 kilograms while exports abroad reached 15.2 tons, leaving a gap of 14.46 tons. In 2024, declared exports stood at approximately 644 kilograms compared to 12.2 tons exported, resulting in a difference of 11.56 tons.

Recovery measures and sector reorganization

Authorities said tax and customs recovery procedures have been initiated both within Cameroon and abroad to recover revenues lost as a result of gold smuggling and under-declaration. To prevent future losses, the Directorate General of Taxes and the Directorate General of Customs will now participate directly in gold collection operations at mining sites alongside SONAMINES. Under the new arrangement, taxes will be collected at source before gold leaves production areas.

The measures are part of a broader restructuring of Cameroon’s gold industry aimed at improving production traceability, strengthening export monitoring and securing public revenue. Under the revised framework, the Ministry of Mines will continue to formulate mining policy, issue permits and oversee regulation of the sector, while SONAMINES assumes responsibility for monitoring production, collecting the state’s share of output and supervising the marketing of precious minerals from artisanal and semi-mechanized operations.

Government officials said investigations found that discrepancies between production, collection and export figures were largely linked to under-reporting by operators rather than the disappearance of state-owned gold.

The reforms introduce tighter supervision of production sites, minimum delivery requirements and enhanced monitoring of gold recovery processes. Authorities have also identified more than 200 mining companies operating without proper authorization. According to information presented during the July 15 briefing, 137 of these operators have already been referred to the courts, while others may regularize their status subject to penalties and compliance requirements.

The disclosure comes as Cameroon seeks to increase mining’s contribution to economic growth and public finances. During the same briefing, government officials announced that five major mining projects; including the Bipindi-Grand Zambi and Kribi-Lobé iron ore projects, the Minim-Martap bauxite project, the Bidzar marble project and the Colomine industrial gold project could generate close to FCFA 1 trillion in the short term through production, infrastructure development and employment creation.

Recent government reforms are intended to increase declared gold production, improve tax collection, strengthen national mineral reserves and support the transition from artisanal and semi-mechanized operations toward industrial mining.

According to figures presented by the Ministry of Mines, the recovery of revenues linked to undeclared gold exports and the formalization of mining activities now form part of the government’s wider strategy to maximize returns from the country’s mineral resources while supporting ongoing investments across the sector.

Source: Business in Cameroon

Cameroon’s export revenue fell by CFA187.1 billion in the first quarter of 2026, dropping to CFA606.9 billion from CFA794 billion a year earlier, according to the National Economic and Financial Committee (CNEF). The 23.6% decline was driven primarily by three of the country’s main export commodities: cocoa, crude oil and liquefied natural gas (LNG).

Cocoa and cocoa products alone generated CFA199.3 billion in export revenue between January and March 2026, down from CFA319.9 billion during the same period a year earlier. The sector lost CFA120.6 billion in revenue, accounting for nearly two-thirds of the country’s overall export decline.

When combined with lower earnings from crude oil and LNG exports, CNEF data show that these three commodities accounted for about 91% of the overall contraction in export revenue during the quarter, underscoring Cameroon’s heavy reliance on a handful of commodity exports.

Cocoa Revenue Falls by CFA120.6 Billion

Revenue from cocoa and cocoa products declined 37.7% year over year, reflecting a sharp reversal in global cocoa prices. According to the World Bank, the benchmark cocoa price fell from $8.08 per kilogram in March 2025 to $3.24 per kilogram in March 2026, a decline of nearly 60%.

Those figures, however, are monthly international benchmarks and do not necessarily reflect the prices received by Cameroonian exporters. Since first-quarter export volumes have not been released, it is not yet possible to determine how much of the revenue decline resulted from lower prices, reduced export volumes or changes in the product mix.

Crude oil presented the opposite picture. Despite higher international prices, Cameroon’s crude oil export revenue fell 14.4% year over year to CFA152.4 billion. LNG export revenue declined 28.4% to CFA59.9 billion.

The World Bank estimated Brent crude at $103.70 per barrel in March 2026, up from $72.60 a year earlier, a 42.8% increase. Over the same period, the European benchmark natural gas price rose 35.3% to $17.91 per million BTU. The decline in Cameroon’s export revenue despite stronger prices suggests lower export volumes, although the available data do not allow that conclusion to be quantified.

Other export sectors also weakened. Revenue from wood and wood products fell 11.5%, raw rubber declined 16.7%, and coffee dropped 17.6%. Revenue from aluminum and aluminum products plunged more than 53%, even as international aluminum prices rose 26.9% between March 2025 and March 2026.

A few sectors bucked the trend. Cotton export revenue jumped 57.5% to CFA21.1 billion from CFA13.4 billion a year earlier. Revenue from bananas and plantains rose 27.9%, while household soap exports increased 16.8%.

Trade Deficit Narrows Despite Weaker Export Performance

Imports also declined during the first quarter, falling 16.2% to CFA1.23 trillion from CFA1.46 trillion a year earlier. In absolute terms, imports decreased by CFA237.9 billion, compared with a CFA187.1 billion decline in exports.

As a result, the trade deficit narrowed to CFA619.6 billion from CFA670.4 billion a year earlier, an improvement of CFA50.8 billion. That improvement does not necessarily signal stronger trade performance. The export-to-import coverage ratio deteriorated to 49.5% from 54.2% a year earlier. In other words, Cameroon generated only CFA49.5 in export revenue for every CFA100 spent on imports during the first quarter, down from CFA54.2 a year earlier.

Import values declined across several categories, including cereals, fish and seafood, electrical equipment and pharmaceuticals. Because only value data are available, it is not possible to determine whether the declines reflect lower prices, reduced import volumes or weaker domestic demand.

The first-quarter downturn extends a trend that began in 2025. According to the National Institute of Statistics, Cameroon’s exports fell 5.2% last year to CFA3.08 trillion. Cocoa and cocoa products accounted for 38.5% of export revenue, compared with 22.9% for crude oil and 11.4% for LNG.

Source: Business in Cameroon

China’s Ambassador to Cameroon, H.E. Xu Yong, has invited Cameroonian businesses to take part in the ninth China International Import Expo (CIIE), which will run from November 5 to 10, 2026 at Shanghai’s National Exhibition and Convention Centre. The invitation was issued during a recent press briefing held at the Chinese Embassy in Yaounde. According to the Chinese Embassy, Cameroon will be participating in the event for the fifth consecutive year. Chinese authorities are encouraging a stronger presence from Cameroonian exporters, either through registration coordinated by Cameroon’s Ministry of Trade or through the expo’s online participation platform.

Presented as the world’s first national-level exhibition dedicated exclusively to imports, CIIE  brings together government agencies, international buyers, distributors, retailers and manufacturers from across the globe.

According to Ambassador Xu, the China International Import Expo offers foreign businesses a first-class official channel to access the Chinese market, connecting them directly with a large number of professional buyers and consumers. H.E. Xu Yong added that participation allows companies to improve brand visibility, identify business partners and better understand demand trends in the Chinese market.

“An open China offers immense opportunities across its territory. We hope Cameroonian exporting companies will take part on a large scale [… ] and benefit from the dividends of China’s opening-up,” Ambassador Xu said.

The invitation comes against a backdrop of expanding bilateral trade. Between January and April 2026, bilateral trade volume rose by 10 per cent year-on-year, with Cameroonian exports to China climbing 23.5 per cent, according to figures cited by the ambassador. He said China remains Cameroon’s leading trading partner.

Since May 1, 2026, China has applied a zero-tariff policy covering all products from the 53 African countries with which it holds diplomatic relations. “We hope the Cameroonian side will fully seize this opportunity to increase its exports of quality products to the Chinese market,” the Chinese Ambassador said.

Several Cameroonian agricultural products, including cocoa beans, coffee beans, dried chilies, sesame and heat-treated beef horns, have already secured sanitary and phytosanitary clearance for the Chinese market. China’s customs authority has also launched a “green corridor 2.0” simplifying access procedures for African agri-food products such as dried peppers, cashew nuts and coffee beans, removing the need for country-by-country access protocols.

Source: Business in Cameroon

Cameroon is set to launch a nationwide operation on August 1 to recover an estimated 305 billion CFA francs ($524 million) in unpaid taxes from undeclared gold exports after trade data from the United Arab Emirates (UAE) exposed major discrepancies in the country’s official export records.

The operation will target 51 mining companies and 33 previously unidentified mining sites suspected of evading taxes and customs duties between 2023 and 2025, according to the Ministry of Mines, Industry and Technological Development.

The crackdown follows findings in the 2023 Extractive Industries Transparency Initiative (EITI) report, which revealed that Cameroon officially declared exporting just 22.3 kilograms of gold in 2023.

In contrast, customs data from the UAE—one of the world’s largest gold trading hubs—recorded imports of more than 15 tonnes of gold originating from Cameroon during the same period.

According to the Gold Demand Trends report published by the World Gold Council, gold sales in the United Arab Emirates reached approximately 37.8 tonnes during the first nine months of 2023, making the UAE one of the world’s largest and most active gold trading and retail markets.

The discrepancy has fueled concerns over widespread underreporting, smuggling, and weak oversight in Cameroon’s mining sector, resulting in significant losses in tax and royalty revenues.

Cameroon moves to tighten oversight

The recovery campaign will be led jointly by the National Mining Corporation (SONAMINES), the Directorate General of Taxes, and the Directorate General of Customs.

Authorities will audit mining firms suspected of under-declaring production while investigating mining sites that allegedly operated outside official records. The government aims to recover unpaid royalties, mining taxes, and export duties tied to undeclared gold production over the past three years.

The initiative comes as African governments increasingly seek to boost domestic revenues amid rising debt pressures and tighter global financing conditions.

For Cameroon, the effort represents one of the country’s most ambitious attempts to formalize its gold industry and curb illicit mineral exports.

The case also highlights how international trade data is becoming an important tool in exposing illicit financial flows.

By comparing export declarations with customs records from importing countries such as the UAE, authorities can identify inconsistencies that point to underreported production or informal exports.

Cameroon is not alone in facing the challenge. Gold-producing countries including Ghana, Sudan, Mali, and the Democratic Republic of Congo have stepped up efforts in recent years to combat smuggling, strengthen mineral traceability, and improve revenue collection from the mining sector.

If successful, Cameroon’s tax recovery drive could serve as a model for how African governments use cross-border trade data to recover lost revenues and tighten oversight of one of the continent’s most valuable export industries.

Source: Business Insider Africa

Cameroon’s National Hydrocarbons Corporation (SNH) reported a 41.3% drop in net profit in 2025, despite posting slightly higher revenue, as weaker operating performance continued to weigh on its results.

The company’s standalone financial statements show that SNH remained loss-making in its core operations, with overall profitability once again supported mainly by income from investments and equity holdings.

Revenue rose 6.1% to CFA5.55 billion in 2025 from CFA5.23 billion a year earlier, driven almost entirely by higher sales of manufactured products.

The increase, however, was not enough to offset rising operating costs. Value added fell 35.6% to CFA9.05 billion, while earnings before interest, taxes, depreciation, and amortization (EBITDA) swung to a loss of CFA3.36 billion from a positive CFA1.72 billion in 2024. After depreciation and provisions, the operating loss widened to CFA12.47 billion, compared with CFA6.53 billion the previous year.

Operating costs climbed sharply

The weaker operating performance was largely driven by higher external service costs, which increased 23% to CFA6.43 billion. Fees paid to intermediaries and consultants alone rose to CFA4.03 billion from CFA3.26 billion.

Taxes and duties nearly quadrupled to CFA1.64 billion, mainly because tax penalties and fines jumped to CFA1.32 billion from just CFA13.2 million a year earlier.

Other operating expenses also rose sharply, increasing 80% to CFA5.28 billion. These included CFA2.35 billion in miscellaneous expenses and CFA2 billion in provisions for short-term risks.

Personnel costs were broadly unchanged, edging up less than 1% to CFA12.41 billion. The figures highlight a growing mismatch between revenue and costs. SNH generated CFA5.55 billion in commercial revenue while spending more than CFA12.4 billion on personnel alone, in addition to external services, taxes, purchases, and other operating expenses.

Financial income remained the main profit driver

Against that backdrop, financial income once again kept the company profitable. Financial profit reached CFA43.88 billion in 2025, comfortably exceeding the CFA12.47 billion operating loss.

That contribution nevertheless declined 24.1% from CFA57.82 billion in 2024, mainly because income from equity holdings fell 20.8% to CFA41.64 billion. Investment income also dropped 57.2% to CFA2.24 billion.

After offsetting operating losses with financial income, profit from ordinary activities stood at CFA31.4 billion. Following a CFA11.43 billion income tax charge, net profit came in at CFA19.98 billion. Without financial income, SNH would have reported a net loss in 2025.

The results confirm that the company’s profitability depends far more on returns from investments and equity holdings than on its commercial operations.

This also explains SNH’s unusually high net margin. Net profit represented about 360% of revenue in 2025, compared with more than 650% the previous year. Rather than reflecting exceptional commercial profitability, the ratio highlights the outsized contribution of financial income, which was nearly eight times larger than annual revenue.

Operating cash flow weakened

The cash flow statement also points to weaker performance in SNH’s core business. Overall cash generation declined 31.2% to CFA29.09 billion. Net cash from operating activities fell even more sharply, dropping 53.9% to CFA13.12 billion, mainly because of a CFA12.62 billion increase in receivables and a CFA3.8 billion adverse change in working capital liabilities.

Investing activities generated a positive cash flow of CFA6.96 billion, down from CFA20.12 billion in 2024, largely thanks to CFA11.54 billion in proceeds from the sale of financial assets.

During the year, SNH also paid CFA24 billion in dividends and recorded CFA3.41 billion in capital withdrawals. Overall, net cash declined by CFA7.32 billion, reversing the CFA17.96 billion increase recorded in 2024. Despite the decline, cash holdings remained strong at CFA159.21 billion at the end of 2025.

Strong balance sheet, but audit concerns remain

SNH’s balance sheet remained solid. Total assets slipped 1.2% to CFA328.85 billion, while shareholders’ equity stood at CFA270.28 billion, representing more than 82% of total assets. The company also reported no outstanding bank or bond debt at the end of 2025.

At the same time, provisions for risks and liabilities rose 23% to CFA43.66 billion. Litigation provisions accounted for CFA37.53 billion, while pension-related provisions totaled CFA5.43 billion.

The company’s external auditors issued a qualified opinion. Among other observations, they noted that SNH had not recorded its CFA5.58 billion investment in the CSTAR Tank Farm project as a financial asset. They also concluded that the provision for end-of-career benefits should be increased by CFA4.77 billion.

The 2025 accounts show that SNH continues to benefit from a strong balance sheet and substantial cash reserves. However, they also underline that the company’s profitability remains heavily dependent on financial income rather than its core business.

Source: Business in Cameroon