Bocom Petroleum may receive €55mn from IFC

Bocom Petroleum, a downstream distributor of petroleum products in Cameroon, may receive up to EUR 55mn from the IFC comprising a EUR 25mn A loan, EUR 15mn IDA PSW loan and EUR 15mn in parallel loans.

Should it receive this investment, the company plans to expand its LPG business through added storage and filing capacity in Douala and establishing LPG centres across multiple provinces in the country to support clean cooking. It also plans to expand its lubricants blending facility capacity in Douala and expand its network of filling stations to increase its retail reach to consumers in underserved markets.

The company is owned by Mr. Bougne, a Cameroonian entrepreneur and businessman, and his family members. It operates its own network of 80 fuel stations throughout the country as well as an LPG storage and cylinder filling plant and a lubricant blending facility across the country in Douala, Yaoundé, Bansoa, Bertoa, Ngaoudere and Pitoa. It also owns the only LPG coastal storage facility in the country.