Cameroonian Tradex to invest XAF15bln in expanding to E. Guinea in the next 3 years

Hydrocarbons

Cameroonian Tradex to invest XAF15bln in expanding to E. Guinea in the next 3 years

Comments

- Monday, 29 April 2019 12:01

(Business in Cameroon) - Cameroonian petroleum firm Tradex announces it is launching this year its investment program in Equatorial Guinea which aims at establishing, in the country, a network of 10 gas stations over the next three years.

Sources said the XAF15-billlion project is targeting both the mainland and the island portion of the country and is expected to generate many jobs. Let’s note the company first launched activity in the country on November 3, 2015 following a partnership with Luba Oil Terminal Equatorial Guinea (Loteg). With this agreement, Tradex stored its products in Loteg’s buildings at the Luba Free Port and exclusively supplies ships that get fuel at this port. Since Dec 17, 2018, Tradex secured an authorization to market its products in E. Guinea.

Sylvain Andzongo

Follow @investcameroun

Local wood processing boosts logging in Cameroon, up 12.2% in Q4 2023

In the last quarter of 2023, the forestry and timber industry emerged as the primary driver of growth in the primary sector in Cameroon. According to the...

Cameroon's economy grows 3.1% in Q4 2023 despite oil sector slowdown

Cameroon’s economy saw a 3.1% growth in the fourth quarter of 2023, according to a report released on May 7 by the National Institute of Statistics (INS)....

Starlink's Cameroon debut sparks business optimism, govt unease

Cameroon's small and medium-sized enterprises (SMEs) and startups are eagerly awaiting the arrival of Starlink, a satellite internet network developed by...

Three Cameroonian firms secure $53mn road maintenance contract

Three Cameroonian companies have won contracts to perform maintenance works on 614 km of roads in several parts of the country. The deals are valued at a...