(Business in Cameroon) - Douala-based money transfer company Wafacash Central Africa informs that it has increased its capital by XAF600 million.
To do so, the subsidiary of Attijariwafa Bank Group issued 60,000 new shares of XAF10,000 each, all of which were paid in cash by the sole shareholder. Its capital thus increases from XAF2 billion to 2.6 billion.
The reasons for this capital increase are not revealed, but it is a clear indication of the Moroccan company’s desire to enhance its presence in the money transfer sector in Cameroon and the Central African zone.
Wafacash Central Africa was created on September 14, 2015. It offers money transfer services, change operations, and the installation/maintenance of ATMs.