2024-06-26 19:45:34
In a deafening silence, the Cameroonian authorities is enjoying hide-and-seek with the way forward for the nation’s second-largest financial institution. Whereas Société Générale is making ready to pack its baggage, Yaoundé is gradual to disclose its technique, leaving suspense worthy of a monetary thriller.
A banking large on the best way out: Cameroon holds its breath
As reported by 237online.com, Société Générale Cameroun (SGC), a sixty-year-old pillar of the nationwide banking panorama, is making ready to vary palms. This information sows unrest within the nation’s financial circles.
It is as if we have been advised that Mount Cameroon was going to maneuver. SGC has been a part of our monetary panorama for therefore lengthy that it is onerous to think about the nation with out it.
The suitors jostle, Yaoundé turns a deaf ear
Whereas rumors are rife about potential patrons, the Cameroonian authorities stays unusually silent:
- BGFI denies any supply
- Ecobank, Coris and Nsia go for silence
- Vista Group refuses to speak
A colossal problem for the Cameroonian economic system
The numbers converse for themselves:
- Complete stability sheet 2023: 1,453 billion FCFA
- 2023 revenue: 29.7 billion FCFA
- 47 companies
- 250 000 purchasers
« Dropping SGC means dropping a complete part of our monetary experience”worries Mathurin Doumbè Epée, former chairman of the financial institution’s board of administrators.
The Cameroonian State: A key actor who’s desired
With 25.6% of the capital, the Cameroonian State has a say. But he stays unusually silent.
« Troublesome to say so long as the group has not but reached us“, says a senior official from the Ministry of Finance.
This wait-and-see perspective raises questions:
- Will the State train its proper of pre-emption?
- Will it select the client, because the Congo and Equatorial Guinea did?
A silence that claims so much in regards to the corridors of energy
The silence of Yaoundé fuels all of the speculations:
- Behind the scenes sport between rival factions?
- Secret negotiations with potential patrons?
- Technique to boost the stakes?
“This silence is deafening”feedback Rose Balla, financial journalist. “It reveals the tensions inside these in energy over the financial way forward for the nation. »
This banking drama is rather more than a easy monetary transaction. It crystallizes the problems and challenges of the Cameroonian economic system within the face of globalization.
As an area proverb says: “When elephants combat, it’s the grass that suffers.” » On this monetary chess sport, it’s the financial way forward for Cameroon that’s being performed out behind the scenes.
The result of this saga guarantees to be explosive. Will Yaoundé be capable to do effectively? Or does the nation danger dropping a serious asset in its financial improvement? The countdown begins.