BGFI Bank to finance Japoma, Olembe stadia construction

The Cameroonian Minister of Finance, Alamine Ousmane Mey, and the management of the Cameroonian subsidiary of the Gabonese banking group BGFI Bank, will sign in the coming days a loan agreement worth FCFA 24 billion in total, we learned from authorised sources.

The amount, according to our sources, represents the Cameroonian contribution as part of this projection for the construction of a 50,000-seats stadium (FCfa 166 billion) in Japoma, in the suburbs of Douala, the economic capital of the country.

This sports infrastructure, which will host the matches of the 2019 AfCON, will be built by the Turkish company Yenigün Construction, from financing from the Turkish Import-Export Bank.

This loan with a maturity of 7 years and differed repayment of 2 years, will carry an interest rate of 6.5%. the same conditions will also apply, we learn, to the loan that the Gabonese banking group will grant once again to the Cameroonian government, this time, for the financing of a the Cameroonian contribution in the project for the construction of a 60,000-seats stadium (FCfa 163 billion) in Olembé, in the suburbs of the Cameroonian capital.