Seven years after the devastating fire at Sonara, the company’s CEO stepped before the global media on 29 June 2026 to announce the refinery’s rebirth. Many were expecting at least a memorandum of understanding with a financial partner. Instead, the declaration came after a meeting of four ministers who assessed reconstruction costs and financing options — without a single partner yet secured.
This is the analysis:
The chosen financing model is Design-Build-Finance-Maintain (DBFM), which covers design, construction, funding and maintenance of the facilities. If after seven years Sonara has only reached this stage, how much longer will it take to find a partner who — through the usual Cameroonian methods — will sign an agreement before turning to banks for the money? This pattern is already visible with mining partners, unlike practices elsewhere.
The shadow of SNH and Nathalie Moudiki
The timing of this communication is telling: it comes days after Cameroonian business leaders, through GECAM president Célestin Tawamba, praised the SNH for the new Kribi refinery being built — a project expertly led by Nathalie Moudiki. Tawamba made his remarks in an international media outlet.
The stakes of appointments are in the green
In reality, yesterday’s announcement appears to be a simple communication aimed at bluffing the president of the republic, just as he was in Switzerland reassessing the performance of those he appointed to serve the people. In its statement, Sonara used terms designed to appeal to Cameroonians, mentioning a hydrocracker unit that will refine the country’s own crude oil — a project that was already underway before the fire and is already part of the Kribi refinery plan.
The sabotage of the Kribi refinery
When you see shadowy whistle-blowers attacking individuals involved in projects, think twice. Since yesterday, Boris Bertolt has been publishing incendiary claims against the SNH refinery project, making baseless statements to tarnish Nathalie Moudiki’s image. Why sabotage the Kribi refinery project on the same day Sonara makes its big announcement? Meanwhile, at SNH, officials praise Sonara’s historic role.
Speaking of Sonara’s rehabilitation: in 2020, a high-level delegation from Russian giant Lukoil visited Yaoundé with a reconstruction and modernisation proposal. The government did not give a positive response. Regime insiders who favour imports through traders cite sovereignty concerns to justify rejecting potential partners. Yet Africa’s largest oil refinery — located in the continent’s second-largest oil producer — is privately owned. The Dangote refinery does not belong to the Nigerian state, but it refines more than 60% of the crude from the country’s wells.
Why is the SNH (gas) model not applied to Sonara (oil)? Angola’s Lobito refinery was built by China, Zambia’s Copperbelt refinery was built by China, Uganda’s first oil refinery is under construction by Russia, and another project is planned in Congo. Cameroonians, let us pray.
