Biya regime raises stake in Sonara to 98%, diluting TotalEnergies to 0.42%

Biya regime raises stake in Sonara to 98%, diluting TotalEnergies to 0.42%

The Cameroonian government has increased its direct stake in the National Refining Company (Sonara) to 98.09%, up from 81.95%, following a recapitalization that sharply reduced the ownership shares of the refinery’s minority shareholders. TotalEnergies Marketing Afrique’s stake fell from 4% to 0.42%, although the company still holds the same number of shares. The new ownership structure was disclosed in a notarized notice dated October 14, 2026,…