Cameroonian businessman Antoine Ndzengue’s Neptune Group has entered the country’s large-scale retail market with the opening of Maithé Mall, a CFA6 billion ($10.7 million) investment that expands the conglomerate beyond its core petroleum distribution business.

Cameroon’s Trade Minister Luc Magloire Mbarga Atangana inaugurated the two-story shopping center on August 26 in Obala, near Yaoundé, describing the project as a sign of the country’s economic and retail growth and the increasing role of domestic businesses in modern distribution.

Antoine Ndzengue’s Neptune expands into large-scale retail

Antoine Ndzengue said the mall was developed to address a local gap after observing residents travel long distances to access certain products and services.

Maithé Mall features an escalator, bakery, butcher shop, restaurant, fresh and dry food sections and children’s play areas. The complex also includes a gas station and a financial services outlet operated by ABC Finance, Neptune Group’s microfinance subsidiary.

The investment, including equipment, is valued at CFA6 billion ($10.7 million) and marks Neptune’s entry into a retail market increasingly shaped by urbanization and rising consumer demand.

The sector includes international chains such as Carrefour, Super U, Casino and Mahima, alongside established local operators including Dovv, Santa Lucia and Belavie.

Obala project reflects changing retail landscape

The mall’s location in Obala, a secondary urban center outside Yaoundé, aligns with the expansion of modern retail beyond Cameroon’s largest cities.

Minister Mbarga Atangana welcomed the decision, saying the project demonstrates the dynamism of the retail sector while extending access to large-scale distribution in emerging urban areas.

The development comes as rapid urbanization and the growth of Cameroon’s middle class continue to create opportunities for modern retail and consumer-focused businesses.

Neptune Group deepens diversification

Maithé Mall forms part of Neptune Group’s broader diversification strategy. The conglomerate is best known for petroleum distribution through Neptune Oil but has expanded into transportation, logistics, healthcare, food services and financial services.

Its portfolio includes freight transportation through Petro Services et Logistique, port logistics through Titima, healthcare through Curaday, food services through Maithé Food and microfinance through ABC Finance.

Neptune is also pursuing local tire manufacturing through Cameroon Tyres Factory Project SA, which plans to build a tire plant in Bekoko, near Douala.

In May, India’s GHV Infra Projects Limited announced that it had received a letter of intent to develop the project under an engineering, procurement and construction contract.

The planned factory, estimated to cost more than CFA400 billion, is expected to produce 7.6 million new tires annually, marking another major step in Antoine Ndzengue’s strategy of expanding Neptune Group beyond its traditional oil business.