Cameroon’s state-owned investment reshapes General Bank

Banking executive Ezékiel Passam has been named Chairman of the Board at General Bank of Cameroon, formerly Société Générale Cameroun, following the government’s successful takeover. The transition marks the completion of the Republic’s acquisition of a majority stake that began earlier this year.

During a board meeting held in Yaoundé on July 15, 2026, the government appointed the bank’s new leadership team: Victor Noumoué takes on the role of Chief Executive Officer, having previously served as Deputy CEO. His promotion follows the withdrawal of French governance after the state increased its ownership to 83.68% of the bank’s capital.

New leadership team sworn in

The restructuring places Ezékiel Passam at the helm of the Board, succeeding Alain Malong. Victor Noumoué, a graduate of HEC Paris, brings extensive experience from within the Société Générale Group, where he spent most of his career. His appointment comes after the departure of Yeri Seck, the former CEO.

Jean-Michel Ondo and Roland Firmin Same Dikongue have been named Deputy CEOs, rounding out the new management structure. Their appointments formalize the state’s full control over the institution, which now operates under the name General Bank of Cameroon (GBC).

The landmark deal, finalized on May 12, 2026, saw the government acquire 58.08% of Société Générale’s stake for 129 billion FCFA, significantly boosting its ownership and ensuring domestic control of the banking sector.