Yaoundé - 24 October 2021 -

Cameroon: BGFIBank announces 2-fold plan to overrun competition

Cameroon: BGFIBank announces 2-fold plan to overrun competition
  • Comments   -   Thursday, 16 September 2021 17:19

(Business in Cameroon) - BGFIBank will build its national headquarters in Douala, Henri-Claude Oyima (photo), CEO of BGFIBank group indicated yesterday September 15, 2021, during an interview with local media EcoMatin. "Next week [ed. note: the week of September 20-26, 2021] we will lay the foundation stone of our Cameroonian headquarters in Douala," the executive declared.  

According to Henri-Claude Oyima, the construction of that headquarters is part of the third pillar of Dynamique 2025, the group’s project aimed at achieving a total net worth of XAF5,000 billion by 2025 against XAF3,500 billion at end-December 2020.

In the framework of the project, apart from the projected headquarters, BGFIBank will invest in information technologies and boost its equity in Cameroon. In January 2021, the group increased its capital from XAF10 to 30 billion. In 2023, the group is expected to increase it again to XAF40 billion.

 "Cameroon is a pole of growth and as such, we will develop our strategy to overrun the competition. Our aim is not to stay static but to be the top 3 in the Cameroonian market. To fulfill that ambition, we have a two-fold plan: performance improvement and acquisitions," Henri-Claude Oyima explained.  

BGFIBank entered the Cameroonian market in 2011 but currently, it is officially the fifth leading bank behind Afriland First Bank, Société Générale, Bicec and Société commerciale de banque du Cameroun.

"Within 10 years in Cameroon, BGFIBank illustrated itself with major achievements in social, energy, and industrial infrastructure with a cumulated investment now in the XAF200 billion mark," declared Abakal Mahamat, MD of BGFIBank Cameroon when signing a XAF100 billion funding agreement with electric utility ENEO and eight local banks.

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Dossier Where does Cameroon stand in international trade?

Henri-Claude Oyima : “BGFIBank Cameroon is truly one of our success stories.”

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Henri-Claude Oyima : «BGFIBank Cameroun est vraiment l’une de nos success-stories.»