SOCADEL Mobilises the Banking Sector to Speed Up Its Recovery and Improve on Electricity Service Quality
An arrangement and fund-raising mandate has been signed with General Bank of Cameroon to finance the first part of its recovery strategy.
Yaounde, 1 July 2026 – The Cameroon Electricity Corporation (SOCADEL) has today signed, with GENERAL BANK OF CAMEROON (formerly, Société Générale Cameroon), an arrangement and fund-raising mandate to raise 60 billion on the banking market. These resources will finance priority investments meant to progressively improve on electricity service quality.
This operation is the first concrete milestone in the recovery plan initiated by SOCADEL. The expected resources are meant to finance priority investment projects in power generation, distribution and commercialisation facilities, with the goal of progressively improving on service quality, strengthening continuous power supply and meeting more effectively the expectations of households, administrations and economic stakeholders.
In a context where residents have high expectations, SOCADEL aims to prioritise measures that are tangible, measurable and directly focused on the main needs of users.
“We are delighted to see the banking sector respond favourably to the impetus given by the Head of State, His Excellency Biya, to rebuild Cameroon’s energy sovereignty.
Our priority is clear: restore trust, improve on service continuity, and provide visible results to users. We are moving forward methodically, humbly and determined: the results would have to speak louder than words.
Antoine NTSIMI, SOCADEL Board Chair.
“This signing marks a concrete step in SOCADEL’s recovery and in our commitment to improve, as from this year, on the service delivered to Cameroon households and industries.”
Oumarou HAMANDJODA, General Manager, SOCADEL.
The Banking Sector Mobilised
On 28 May 2026, SOCADEL’s Board commissioned the General Manager, Mr. Oumarou HAMANDJODA, with oversight from the Board Chair, Mr. Antoine NTSIMI, to start negotiations with local banks. The objective was to mobilise resources to finance new investments, rebuild the cash reserve and help restructure financial debt. In the wake of these guidelines, several local and international banks expressed a strong desire to support SOCADEL in this new momentum.
Today’s signing is the first tangible outcome from this mandate. It covers the “investments” part, devoted to strengthening and extending power infrastructure.
“As the Arranger and Syndicate Leader, this syndication transaction is quite important for GENERAL BANK OF CAMEROON, formerly SOCIÉTÉ GÉNÉRALE CAMEROUN. Beyond the significant sum of CFAF 60 billion, it shows the importance our institution gives to the development of our country and to the living conditions of our fellow citizens, for whom electricity is vital."
Victor NOUMOUE, General Manager, General Bank of Cameroon.
A Comprehensive Financial Strategy
This funding is one step in a broader financial strategy. SOCADEL will continue, in the coming weeks, discussions with the banking sector within the framework of refinancing its cashflow needs and restructuring its current debt, notably with banks, suppliers and other relevant partners. The coming financing should also help meet current liquidity needs and build an operational liquidity reserve. A new arrangement mandate relating to these components should be signed in the coming weeks.
Transformation Initiated
This mobilisation of the banking sector, upstream of broader mobilisation of the international banking sector in 2027, aims to support the company’s sustainable recovery. In accordance with guidelines from the President of the Republic and as coordinated by the Government, SOCADEL is preparing an ambitious transformation project for households, companies, and the Cameroon economy.
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