Cameroon Banking Sector : New Force in Place

Cameroon’s banking system has been undergoing profound changes and on a global scale, there are modifications on how banks operate. This has made the need for fresh blood at the helm of most banks and other financial institutions to meet up with the changes. The most recent is the installation of the Gwendoline Abunaw as President of the Professional Association of Credit Institutions of Cameroon (APECCAM) following her election by the association’s general assembly on June 23, 2022.
She was officially installed to her functions by the Minister of Finance, Louis-Paul Motaze, in the presence of the Minister of Labour and Social Security, Gregoire Owona at the Douala Akwa Palace on August 18, 2022. The CEO of Ecobank succeeds Alphonse Nafack, former CEO of Afriland First Bank, who has occupied the position since 2015.
Shortly after her installation, Gwendoline Abunaw was visibly upbeat to take the sector to a high level of dynamism and is poised to take the bull by its horns as concerns the challenges awaiting her. These include conducting reflections on the economic and social challenges of the banking industry and offer banking companies an environment conducive to their development, which is all the more essential since this sector directly employs several thousands of people, which makes it one of the strategic private employers in Cameroon; Guarantee banking stability, preserve customer deposits; increase banking and promote financial inclusion, because a dynamic, competitive and innovative banking sector appears essential in the face of intensifying banking competition at...