Société Nationale des Pétroles du Congo (SNPC), the national oil company of the Republic of Congo, is set to raise 200 billion XAF in collaboration with regional financial partners to support its expansion efforts under the Performance 2025 initiative.
As part of this strategic program, SNPC aims to mobilize a total of 300 billion XAF through bond issuances. The initiative, launched in December 2024, has already completed its first phase, raising 100 billion XAF from investors across the ECOWAS financial markets by February 29, 2025.
The funds acquired will be allocated to drilling operations in the Nanga 1, Mayombe 11, and Kouakouala onshore basins, thereby increasing SNPC’s production capacity and strengthening the oil sector’s contribution to the national economy. Speaking on the initiative, SNPC Director General Maixent Raoul Ominga stated, “Fossil fuels remain vital for our economies, even as we advance towards an energy transition.”
The bond issuance, offering a 6.5% return rate, is expected to enhance investor confidence within the CEMAC region.
Yannick Mefane, CEO of Premium Capital Securities and co-arranger of the fundraising campaign, underscored the significance of regional financial autonomy, emphasizing, “We are demonstrating that we can finance our own economy without relying on expensive international funds.”
