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Project to exploit the Grand Zambi iron deposit: 41.2 billion FCFA to be mobilized by local banks

19/02/2026
Source : ORISHAS FINANCE
Categories: Sectors

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The Bank's Monetary Policy Committee (CPM) of the Central African States (BEAC) authorized Afriland First Bank, CBC, CCA Bank, BGFI Bank and UBA to raise 41.2 billion FCFA for the benefit of the project of exploitation of the Grand-Zambi iron field, executed by G-Stones Resources SA.

The Grand-Zambi deposit, located in the region of Southern Cameroon, is one of the three major iron mining projects (with those of Mballam, in the East, and Kribi-Lobé, in the South) retained by the government Cameroonians and listed in the annex to the 2026 Finance Law relating to major investment projects. Thus, Afriland First Bank, the leader will pay the sum of 16.5 billion FCFA (nearly 30 million USD). In the At the same time, BGFI Bank Cameroon will contribute 8.1 billion FCFA (around 15 million USD), UBA, of 6.6 billion FCFA (nearly 12 million USD), CBC, of 5.7 billion FCFA (about 10.3 million USD), and CCA Bank at amount of 4.1 billion FCFA (approximately 7.4 million USD).

This financing from these five banks is estimated at 60% of the 68.7 billion FCFA (about 124 million USD), excluding the need for funds turnover estimated at 7.9 billion FCFA (approximately 14.3 million USD), necessary for the realization of this project

According to the BEAC CPM, definitive access to this financing is conditional on “the achievement prior or concomitant of self-financing to be increased by 26 723 million from FCFA (around 48 million USD) to 27,500 million FCFA (nearly 50 million USD) as well as the borrower's written commitment to allocate the funds made available exclusively for construction and operation of an iron mine in the town of Grand-Zambi

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