Following the resolutions of the extraordinary general meeting, the increase in the railway concessionaire's equity raises the total subscription value to 16,071 billion FCFA, bringing the share capital from 15,314 billion FCFA to 23,242 billion FCFA. Generating a cash contribution of 9,852 billion FCFA, the transaction enables the mining company to increase its shareholding from 138,855 to 624,816 shares, establishing a stake of 26.88%. The issuance of 792,751 Class B shares integrates a debt-to-equity conversion of 1.637 billion FCFA attributed to AGL Railways and an in-kind contribution of 1.430 billion FCFA attributable to the State, raising the public share to 15.07%.

Thanks to the creation of new tranches issued tranches at an average price of 20,272 FCFA for a nominal value of 10,000 FCFA, corporate governance positions the holder of the Minim-Martap project directly behind the majority shareholder SCCF (maintained at 51%). Nevertheless, the provisional halt in bank disbursements notified by AFG Bank Cameroon postpones the initial objective of transporting 35,000 monthly tonnes of ore by rail. The received rolling stock, comprising 7 locomotives and 160 wagons expected, remains suspended pending the revision of the overall financial model.

Considered essential for securing the evacuation of goods to the Port of Douala, mastery of the rail network strengthens the vertical integration of the extractive operator. The finalization of the financing scheme will condition the effective launch of mining rotations.

Henceforth, the operational synergy between the rail concessionaire and the mining promoter foreshadows the reorganization of national logistics flows. 


The effectiveness of the first shipments will depend on the restoration of the necessary credit lines for infrastructure completion.


Nlend Flore

Tags: secteur ferroviaire camalco camrail actionnaire investissement minier capital social augmentation capital transport ferroviaire minerai port de douala