Merger and Acquisition

Cameroonian Government to Acquire Société Générale Cameroon for $191.6 million

Osa Omokaro

— 1 min read
Cameroonian Government to Acquire Société Générale Cameroon for $191.6 million
Photo: Adobe Images

The Cameroon government plans to acquire a 58.08% stake in Société Générale Cameroon for $191.6 million. 

This strategic acquisition comes as Société Générale is divesting its assets across Africa, creating opportunities for Pan-African banks to strengthen their presence through mergers and acquisitions. 

Recent transactions related to Société Générale's exit from Africa include 

  • Vista Group's acquisition of holdings in Equatorial Guinea and Congo, 
  • Coris Group's purchase of SG's banking assets in Chad and Mauritania, 
  • Atlantic Financial Group's acquisition of SG's interests in Guinea, 
  • Saham Group's takeover of its Moroccan assets. 

The bottom line: In a landscape where most African banks are privately owned with little to no government involvement, the entry of Pan-African banks into Société Générale Cameroon presents a significant opportunity for the Cameroonian banking sector. This could lead to renewed dynamism as these institutions seek to generate investment returns and enhance competition. However, a bank with substantial government ownership may face challenges in remaining competitive due to bureaucratic constraints.

Read more