Cameroon’s financial landscape witnesses a pivotal shift as the state assumes full control of General Bank of Cameroon, formerly Société Générale Cameroun, through a landmark acquisition finalized in May 2026. The restructuring marks the beginning of a new era under local leadership, with Ezékiel Passam appointed as Chairman of the Board and Victor Noumoué taking the helm as Chief Executive Officer.

The announcement follows a decisive council meeting held in Yaoundé on July 15, 2026, where the new leadership team was officially unveiled. Ezékiel Passam, a seasoned banker with extensive experience in the sector, steps into the role of Chairman, succeeding Alain Malong. His appointment symbolizes the bank’s transition toward Cameroonian governance after decades under French oversight.

Meet the new leadership driving General Bank of Cameroon

Victor Noumoué, a graduate of HEC Paris, brings over two decades of experience within the Société Générale Group to his new position as CEO. His deep-rooted expertise in banking operations positions him as a key figure in steering the institution forward. Prior to this appointment, Noumoué served as Deputy CEO, ensuring continuity in management during the transition.

Supporting the leadership are two newly appointed Deputy CEOs: Jean-Michel Ondo and Roland Firmin Same Dikongue. Their combined expertise is expected to reinforce the bank’s strategic direction and operational efficiency as it adapts to its new ownership and identity as General Bank of Cameroon (GBC).

State ownership reshapes the future of GBC

The Cameroonian state now holds an 83.68% stake in General Bank of Cameroon, following the acquisition of Société Générale’s 58.08% shareholding for 129 billion FCFA in May 2026. This strategic move aims to align the bank’s operations with national economic priorities and foster greater financial sovereignty. The rebranding to General Bank of Cameroon reflects not only a change in ownership but also a commitment to serving Cameroonian clients and businesses with renewed focus and agility.

The transformation underscores the government’s vision to modernize the financial sector and enhance accessibility to banking services across the country. As General Bank of Cameroon embarks on this new chapter, stakeholders anticipate a strengthened alignment with Cameroon’s economic growth objectives and a renewed emphasis on inclusive financial solutions.