The Group — Zeideal Group SAS

Legal identity

A simplified joint-stock company under Cameroonian law

Zeideal Group SAS is a simplified joint-stock company (SAS) registered with the Trade and Personal Property Credit Register of the Republic of Cameroon. Its sole mission is to develop and operate the PROAQUI integrated agro-industrial aquaculture complex.

Corporate identity

Corporate name	Zeideal Group SAS
Legal form	Simplified joint-stock company (SAS) under Cameroonian law
Registered office	Yaoundé, Carrefour Ekoumdoum, BP 14740, Republic of Cameroon
Date of incorporation	27 April 2021
Current share capital	FCFA 20,000,000 (2,000 shares × FCFA 10,000, fully paid-up)
Q3-2026 capital increase	+ FCFA 5,000,000,000 (500,000 new shares)
Target capital post-increase	FCFA 5,020,000,000 (502,000 shares × FCFA 10,000)
Principal activity	Development and operation of the PROAQUI project

Our vision

Building a benchmark industrial aquaculture operator in Central Africa

Cameroon consumes more than 17 kilograms of fish per capita per year, but relies heavily on imports to fill the local production gap. Zeideal Group develops PROAQUI to bring forth, on Cameroonian soil, an industrial aquaculture operator at international standards, capable of structurally shaping the sector, substituting a significant share of imports, and supplying the broader CEMAC region. Our ambition is not to serve a market segment: it is to build productive infrastructure that places Cameroon and the sub-region on the global map of industrial aquaculture.

Our trajectory

A documented, step-by-step structuring

27 April 2021

Notarial incorporation of Zeideal Group SAS

Authenticated before Maître Gilbert NKENE ENDONG, Notary in Yaoundé. Initial share capital of FCFA 20 million fully paid-up by an eight-company shareholding consortium.

June 2025

Strategic partnership with CODAM

Launch of the Proaqui Nyong project in Mfou (12,000 tpa target) in synergy with the Nyong site.

Q1 2026

Species validation — Oreochromis niloticus GIFT-9 strain

Board decision (note ZG-DAF-2026-NRO-001) selecting the strain for both aquaculture-site hatcheries.

April 2026

ICERD field visit and PROAQUI Business Plan publication

Consolidated soil and limnological survey. Official Business Plan ZG-DAF-2026-BP-001 published (513 pages).

Q3 2026 — Target

Phase 1 financial closing

Capital increase to FCFA 5.02 billion and finalization of the financing round with 8 structuring lenders.

1 July 2028

Phase 1 COD — Commercial Operation Date

Phase 1 commercial capacity: 15,000 tpa (Mbakaou site).

1 July 2032

Phase 2 COD — Steady state

Total capacity: 45,000 tpa (Mbakaou + Nyong at full operation).

Sites

Three sites, three complementary roles

Agricultural hub

DIR · Adamaoua

5,380 ha state-granted

DIR Agro-Industrial Hub

Adamaoua Region. 4,500 ha cultivated under center pivots in maize and soy. Bühler 160 tpd feed plant. CEMAC distribution platform.

Priority site

Mbakaou · Adamaoua

6°19'N · 12°49'E

Mbakaou Autonomous Aquaculture Site

400 km² hydroelectric reservoir. 231 Regal Springs floating cages. Satellite hatchery and 30 ktpa processing unit.

Complementary site

Nyong · Centre / East

Akonolinga–Olama sections

Nyong Autonomous Aquaculture Site

Operational partnership with CODAM. Satellite hatchery in Mfou. 115 floating cages. 15 ktpa processing unit.

The project in numbers

Key Business Plan indicators

All figures below are extracted from the official Business Plan ZG-DAF-2026-BP-001 (April 2026, 513 pages).

Indicator	Value
Consolidated CAPEX over 10 years	FCFA 73.3 billion (~ USD 122 million)
Phase 1 CAPEX (Years 1 to 3)	FCFA 42.5 billion
Phase 2 CAPEX (Years 4 to 7)	FCFA 30.8 billion
Year 3 production target	15,000 tpa (Phase 1 COD)
Year 7 production target	45,000 tpa (steady state)
Total cages at steady state	346 cages (231 Mbakaou + 115 Nyong)
Direct jobs Year 7	1,855 FTE
Target project IRR	22.4%
Average target DSCR	1.64x
WACC	6.7%

Zeideal Group SAS