Cameroonian billionaire Nana Bouba launches oilseed company

Cameroonian Nana Bouba has launched a new company that is involved in the processing of oilseeds.

The new company, which is called Societe de transformation des oleagineux du Cameroun, or Stoc S.A.S, for short, is the latest addition to the Nana Bouba Group, one of the largest privately owned companies in the country.

Stoc S.A.S is a simplified joint-stock company with multiple shareholders and has a registered capital of 10 million CFA francs ($16,256). Its headquarters is located in Ngaoundere, in the Bali neighborhood, specifically in the Express Union building at the Kuwait intersection, facing the Grand Market.

The company’s activities include agricultural production, collection and storage of oilseeds, and processing of oilseeds and related products. It also participates, directly or indirectly, in any industrial, commercial, financial, and real estate activities that are closely related to or similar to its core business.

Stoc S.A.S joins a sector populated by various key players. Companies such as Oleo, Mayor, and Diamaor have maintained dominance in processing and production for decades. Socapalm and Safacam are among others that can be cited on the production front.

Stoc S.A.S’s entry into this business segment is expected to have multiple benefits, including reducing dependency on imports. Historically, Cameroon has relied on imports to meet local demand. For example, in 2022, approximately 150,000 tonnes of crude palm oil were imported. These imports supplement the country’s modest local production, which fluctuates between 350,000 and 400,000 tonnes annually and struggles to meet household demand for crude oil and the increasing industrial demand for refined oils and soaps.

Additionally, the new company further strengthens Bouba’s presence in the Cameroonian market. Already active in the oilseed market, he owns a palm grove through the company Greenfield. He is also involved in oil refining with two units and household soap production.