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Cameroon – Finance: UBA and BGFI give loan of FCfa 48.4 billion to Cameroon, for two football stadia construction projects

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Written by Deckson N.

The Cameroonian counterparts in the projects for the construction of two football stadia of 50 and 60,000 seats in Douala (FCfa 166 billion) and Yaounde (FCfa 163 billion), in anticipation of the 2019 AfCON, will be financed by the local subsidiaries of the Gabonese and Nigerian banking groups BGFI and UBA.

This is what revealed a decree from the Cameroonian Head of State signed on 4 August, presidential text which authorises the Minister of Finance to sign said loan agreements on behalf of the government, for a total amount of FCfa 24.4 billion for the stadium in Yaounde.

As a reminder, the Yaounde stadium will be built in Olembe by the Italian company Piccini, while the one in Douala, which will be located in Japoma, will be built by the Turkish company Yenigün Construction Industry.

Via BIC

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Deckson N.

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