SG CAMEROUN RECEIVES DOUBLE AWARD FROM MINFI

Société Générale Cameroun was awarded the prize of "Best Cameroonian Primary Dealer" of the year 2021 for the second consecutive year, and for the first time in history, that of "Best Primary Dealer Innovation*" of the year 2021, on February 17 in Douala.

During the ceremony for the presentation of the State's annual financing plan to financial backers, Société Générale Cameroun received from the Minister of Finance, Mr Louis Paul MOTAZE, the distinctions of "Best Specialist in Treasury Securities in Cameroon" and "Best Primary Dealer Innovation" for the year 2021.

This new event, which is now traditional between MINFI, primary dealers and investors in the CEMAC zone, enabled the Minister of Finance to present the State budget financing programme to his audience, with special emphasis on the Treasury's interventions in the capital markets. The said ceremony was marked by the presentation of awards to financial actors in recognition of their unfailing support to the implementation of the government securities issuance programme in Cameroon.

The first prize, that of "Best Specialist in Treasury Securities in Cameroon", received by SG Cameroun for the second consecutive year as a leader in this market, reflects the active participation of the institution in the issuance of public securities during the year 2021 and the significant volumes of cash that the bank invested to effectively support the State of Cameroon in its growth and development strategy. Receiving the award, Mr. Nicolas PICHOU, the Managing Director of Société Générale Cameroun, said: "This award is a recognition of the work of our Treasury teams, in conjunction with our commercial teams, to unfailingly support the Cameroonian State in the implementation of structuring projects. As an indisputable player in the economic and banking landscape in Cameroon, one of our ambitions is to be and remain a major partner of the State in the fulfilment of its major projects."

The second prize, which of the "Best Primary Dealer Innovation" of the year 2021, was received for the first time in its history. Indeed, in addition to its support in the securities market for standard fundraising via the traditional auction mechanism, the bank also enabled the State of Cameroon to raise XAF 83 billion through the "domestic syndication" process, a new financing scheme that has been put in place by BEAC since October 2021 and for which SG Cameroun was the first bank in the CEMAC zone to initiate and complete a successful structuring in a very short time. For Mr. Samuel Roger MBASSA, Treasurer of SG Cameroun and the Central and East Africa Region, this distinction «reflects the avant-garde and innovative positioning of SG Cameroon and its capacity as a leading international bank to use its know-how to ensure the optimal functioning of BEAC money market, while responding to the State’s increasingly complex needs.

In a nutshell, according to Colins AMBIANA, Chief Financial Officer of SG Cameroun, "with these newly earned awards, the bank reaffirms its leadership as the first partner bank of the State of Cameroon and as an innovative bank in all its markets. It has successfully combined the needs of its customers and partners with its innovative bank spirit and profitability objectives.

The ceremony during which SG Cameroon was doubly awarded, was enhanced by the presence of the Regional Director for Central and Eastern Africa of the SG Group, Mrs. Mareme MBAYE NDIAYE, and several employees of the Financial Department of SG Cameroon and SG CAPITAL CEMAC, who came in a team spirit, to encourage the business lines honoured this day.