Cameroon’s government completes major banking acquisition

The General Bank of Cameroon (formerly Société Générale Cameroun) has entered a new era with Cameroon‘s government now holding a controlling stake of 83.68% in the financial institution. This strategic move follows the completion of a landmark transaction valued at 129 billion FCFA on May 12, 2026, which transferred 58.08% of shares from the French banking group Société Générale to the Cameroonian state.

New leadership appointed in historic board meeting

During a pivotal board meeting held in Yaoundé on July 15, 2026, the new leadership team was officially appointed to steer the bank’s future direction. Ezékiel Passam, a seasoned banker, has been named Chairman of the Board of Directors, succeeding Alain Malong in this prestigious role. Victor Noumoué, previously Deputy Managing Director, has been promoted to the position of Managing Director. The board also welcomed two new Deputy Managing Directors: Jean-Michel Ondo and Roland Firmin Same Dikongue, both bringing extensive experience to their new responsibilities.

Leadership changes reflect new strategic direction

Ezékiel Passam, with his deep banking expertise, takes the helm as Chairman, marking a clear break from the institution’s previous French governance. Victor Noumoué, who holds an MBA from HEC Paris, has been instrumental in the bank’s operations since the withdrawal of French management. His appointment as Managing Director comes at a critical juncture as the bank transitions to full Cameroonian ownership. The new leadership team brings together professionals with diverse backgrounds but united by their commitment to the bank’s continued growth and development in Cameroon‘s evolving financial landscape.