Cameroon: Cement producer Entreprise Générale Industrielle (EGIN) has obtained US$10.3m in financing from the Central African Development Bank (BDEAC) to expand production and storage capacity at its Douala grinding plant, according to News du Camer. Managing director Kaiafas Georges Kyriakos and BDEAC president Dieudonné Evou Mekou signed the agreement in Douala.
In its 2023 annual report, BDEAC announced that it had provided initial financing for the implementation of this project, estimated at a total of US$33.7m. EGIN entered the cement business in 2017 under the Lion brand.
BDEAC said the new support is part of its wider US$56.4m financing package for projects across the sectors of cement, reinforcing steel, hospitality and logistics.
