In a decisive regulatory move, the Central African Banking Commission (COBAC) has revoked the operating license of Financial Development Chad (FINADEV Tchad S.A.), forcing the microfinance institution into liquidation.

The announcement, issued on May 21, follows a disciplinary decision dated February 5, 2026, which stripped FINADEV Tchad S.A. of its second-category microfinance license—a status it held as a key player in Chad’s financial inclusion landscape. As of the notification date, the institution’s operations are officially suspended, with liquidation procedures underway.

The COBAC has appointed a provisional liquidator to oversee the process, with a mandate lasting up to one year, subject to extension if required. This intervention underscores the regulator’s commitment to enforcing compliance within Chad’s microfinance sector, where FINADEV Tchad S.A. had been a prominent but now defunct entity.