Finance

Banking sector: while selling off his activities in Africa Cameroonian Georges Wega leaves Société Générale The only sub-Saharan African on the French group’s management committee, the Cameroonian banker will be leaving his position as Deputy Director of international banking networks for the Africa, Mediterranean Basin and Overseas (Afmo) region at the end of this month….

Banking sector: in full sale, Standard Chartered Bank implicated in an illegal employment scandal in Cameroon Nearly 50% of employees of the Cameroonian subsidiary of the elite bank are in a situation of job insecurity. A serious phenomenon that tarnishes the reputation of the British group operating in this country since 1986. Revelations. The banking…

Banking sector: CCA-Bank distributes a record dividend of 10 billion CFA francs to its shareholders The year 2023 was a fruitful year for CCA-Bank, which achieved its highest profit in 7 years for an equally historic dividend distributed to shareholders. EcoMatin’s close-up on the performance of this former microfinance company that successfully migrated to banking…

Public securities: Cameroon pays up to 8.48% on its 3-year OTAs in June 2024 The yield curve of Cameroonian government securities made public by the Central Bank of CEMAC countries illustrates that Assimilable Treasury Bonds (OTA) with maturities of 3 and 3.5 years were, as of June 30, 2024, the most popular public bonds issued…

CEMAC: Chad’s Quest for 40 Billion CFA Francs – A Strategic Move for Economic Growth After a failure on its issue of 30 billion CFA francs in 2-year Treasury Bonds (OTA) remunerated at 6%, this member state of CEMAC is back with a large issue of 40 billion CFA francs in OTA. The Central African…

The Central African Republic’s Banking Sector: Navigating the New Increase in Loan Costs The National Economic and Financial Committee of the CAR sets new usury rates applicable to credit institutions in the country, by tightening the conditions for amortizable credits and overdrafts for households and SMEs. The Central African Republic (CAR) has recently witnessed a…

Société Générale signs an agreement to sell its Madagascar subsidiary to BRED Banque Populaire This transaction, subject to the usual suspensive conditions and regulatory authorizations, is in line with the French banking group’s plan to close its holding company in the Central and East Africa region. The decision by Société Générale to sell its subsidiary…

Cameroon: The Presidency of the Republic instructs the continuation of the transfer of funds allocated to the Cdec The Presidency of the Republic of Cameroon has recently reiterated its directive for the continuation of the transfer of funds allocated to the Caisse des Dépôts et Consignations (CDEC), emphasizing the importance of this process in the…

Chanas Assurance: Maurice Matanga was replaced as Chairman of the Board of Directors of the Cameroonian insurer in 2024 The corporate landscape of Cameroon’s insurance sector has witnessed a significant change with the replacement of Maurice Matanga as Chairman of the Board of Directors at Chanas Assurance. This move marks a pivotal shift in the…