SONARA: Cameroon Seeks Investors for Oil Refinery Modernization

Seven years after a fire halted operations, Cameroon is actively seeking investors to modernize the SONARA national oil refinery. The government has initiated an international market sounding process to assess market interest and mobilize the necessary financing for the company's rehabilitation and modernization.

Louis Paul Motaze, Cameroon's Minister of Finance, officially launched the "Market Sounding International" initiative in Yaoundé on June 29, 2026. This two-day event brings together experts, financial institutions, industrialists, and potential investors. The goal is to present the project's details, understand market expectations, and incorporate feedback from potential partners before proceeding to the next phases.

Authorities aim to equip the country with a modernized and more efficient refinery that meets international standards. Beyond resuming refining activities, the project intends to bolster Cameroon's energy independence, decrease its dependence on imported refined petroleum products, and stimulate broader industrial growth. This consultation is seen as a crucial step in identifying partners for SONARA's revival.

The initiative underscores Cameroon's commitment to revitalizing a strategic asset for its national economy. The successful modernization of SONARA is expected to have significant ripple effects, contributing to energy security and economic development within the country.