Société nationale des pétroles du Congo (SNPC), the Republic of Congo’s national oil company, plans to raise 200 billion XAF in partnership with regional financiers to support its growth strategy under the Performance 2025 initiative.
As part of this program, SNPC aims to secure a total of 300 billion XAF through bond issues. The initiative launched in December 2024, with the first phase raising 100 billion XAF from investors across ECOWAS financial markets by February 29, 2025.
Funds raised will be directed toward drilling operations in the Nanga 1, Mayombe 11 and Kouakouala onshore basins, enhancing SNPC’s production capacity and reinforcing the oil sector’s contribution to Congo’s economic growth. According to SNPC Director General Maixent Raoul Ominga: “Fossil fuels remain necessary for our economies, even if we are working on an energy transition.”
With a 6.5% return rate, the bond issuance is expected to strengthen investor confidence within the CEMAC region.
Yannick Mefane, CEO, Premium Capital Securities and co-arranger of the fundraising effort, emphasized the importance of regional financial independence, stating, “We are showing we can finance our own economy without depending on costly international funds.”
