In a landmark move reshaping Cameroon’s banking sector, prominent financier Ezékiel Passam has been appointed as the new Chairman of the Board for the General Bank of Cameroon (GBC), formerly known as Société Générale Cameroun. The state now holds majority ownership after acquiring a 58.08% stake from the French banking giant in May 2026, increasing its share to 83.68% of the capital.
new appointments strengthen state control
The restructuring was formalized during a board meeting held in Yaoundé on July 15, 2026, where key leadership positions were filled to reflect the shift in ownership. Alongside Passam at the helm, Victor Noumoué has been named Managing Director, taking over from his predecessor who left following the withdrawal of French governance. Noumoué, a graduate of HEC Paris, brings extensive experience from his long tenure at Société Générale.
Completing the leadership team are two newly appointed Deputy Managing Directors: Jean-Michel Ondo and Roland Firmin Same Dikongue. Their appointments underscore the bank’s transition to full local governance under state authority.
from french subsidiary to national institution
The rebranding from Société Générale Cameroun to General Bank of Cameroon (GBC) symbolizes more than just a name change—it represents a strategic pivot toward national sovereignty in the financial sector. The transaction, valued at 129 billion CFA francs, was finalized on May 12, 2026, marking a decisive step in Cameroon’s efforts to consolidate control over its financial institutions.
The new leadership team is expected to drive operational independence and align the bank’s strategy with national economic priorities, fostering growth and stability in the country’s banking ecosystem.