NOFIA S. A. exits provisional administration after financial restructuring

The Commission Bancaire de l'Afrique Centrale (COBAC) has officially lifted the provisional administration imposed on Nouvelle Financière Africaine (NOFIA S. A.) on September 11, 2026. The measure, originally implemented on September 5, 2025, addressed critical weaknesses in the institution's financial situation, credit portfolio quality, governance, internal controls, risk management, and compliance.

During a press conference in Douala, the institution reported significant financial recovery. The social capital increased from 1.2 billion to 8.2 billion FCFA, and the number of accounts grew from 67,977 to 74,824. Notably, the PAR30—the proportion of the credit portfolio with payments delayed by at least 30 days—dropped from 32.39% to less than 4%. The institution has implemented 43 of the 56 recommendations issued during the sanitization process.

Under new leadership, including Board Chairman Clément Kemayou and Director General Bogni Ngueya, NOFIA S. A. aims to become one of the top five microfinance institutions in Cameroon and intends to transform into a full-service bank in the medium term.