Cameroon’s state takes full control of General Bank of Cameroon

Banking executive Ezékiel Passam now chairs the board of directors at General Bank of Cameroon (GBC), formerly Société Générale Cameroun, following a major restructuring that places the Cameroonian state as the majority shareholder.

This leadership change follows the government’s definitive acquisition of Société Générale’s 58.08% stake in the bank, completed on May 12, 2026. The transaction, valued at 129 billion CFA francs, increased the state’s ownership to 83.68% of the capital.

The new board and management team were appointed during a board meeting held in Yaoundé on July 15, 2026. Ezékiel Passam, a seasoned banker, has been named Chairman of the Board, succeeding Alain Malong. Victor Noumoué, previously Deputy CEO, now serves as the bank’s CEO. Jean-Michel Ondo and Roland Firmin Same Dikongue have been appointed as Deputy CEOs.

Transition from Société Générale to General Bank of Cameroon

Victor Noumoué brings extensive experience from Société Générale, where he spent the majority of his career. His appointment comes after the French group’s withdrawal from the bank’s governance structure. Noumoué replaces Yeri Seck, who had previously led the institution.

The rebranding to General Bank of Cameroon (GBC) reflects the bank’s new identity under Cameroonian ownership. The leadership team’s appointment signals a new chapter for the financial institution, now fully integrated into the country’s economic framework.