The Central African Banking Commission (COBAC) officially lifted its provisional administration on Nouvelle Financière Africaine (NOFIA S.A.) on Friday, September 11, 2026. The decision, announced during a press conference in Douala, concludes a year-long restructuring period and fully restores normal governance to the institution.
Addressing shareholders, clients, and media representatives, the newly established leadership panel comprising Board Chairman Clément Kemayou, Managing Director Bogni Ngueya, and Shareholders’ Chairman Hon. David Mamfouo detailed the institution’s turnaround and outlined an ambitious path forward. Following COBAC’s intervention on September 5, 2025, NOFIA S.A. executed a comprehensive overhaul of its balance sheet, operations, and risk management systems. Key financial and operational milestones over the 12-month period include:Share capital surged from CFAF 1.2 billion to CFAF 8.2 billion following a historic recapitalisation campaign. The Portfolio-at-Risk overdue beyond 30 days (PAR 30) plummeted from 32.39% to under 4%. Implementation of regulatory recommendations rose from 25% to 77% (completing 43 out of 56 directives). Drafted or updated 136 internal procedures and introduced 10 major governance policies targeting compliance and risk mitigation. Active accounts grew from 67,977 to 74,824, bringing in over CFAF 504 million in net new deposits between August 2025 and June 2026. “My personal ambition as Chairman is to make NOFIA S.A. a benchmark player in financing the real economy in Cameroon and the CEMAC region,” declared Board Chairman Clément Kemayou.
Supported by a network of 13 branches and three service points, NOFIA S.A. is executing a two-phase growth strategy: Break into the top five microfinance institutions (MFIs) in Cameroon by improving portfolio quality, digital capabilities, and customer service. Transition NOFIA S.A. from a Category-2 MFI into a full-fledged commercial bank operating across the broader CEMAC zone.Managing Director Bogni Ngueya summarised the roadmap in three core pillars:”Consolidate, Transform, and Revitalize.” With regulatory supervision concluded, the institution now pivots toward sustainable commercial expansion and rebuilding long-term stakeholder trust.
Visionary Reports 
Leave a comment