Cameroonian Ferdinand Ngon Kemoum appointed Oragroup’s new Managing Director

Banking

Thursday, 23 May 2019 14:48

Cameroonian Ferdinand Ngon Kemoum appointed Oragroup’s new Managing Director

(Togo First) - Cameroonian Ferdinand Ngon Kemoum is Oragroup’s new Managing Director. Former deputy MD of the group between October 2009 and September 2015, he replaces Binta Touré Ndoye who resigned after steering the group’s wheel since 2016.

The Cameroonian will assume office next June 1. Until now, he was MD of Emerging Capital Partners (ECP) in Douala. ECP it should be emphasized holds a majority stake in Oragroup. Ngon was in charge of “identification, analysis and recommendations of investment as well as investment appraisal, management of transactions, portfolio and exits.”

Before joining ECP, he was MD of Framlington Asset Management Central Africa. He however also held various positions at LOITA Capital Partners International, a specialized investment bank based in Johannesburg, at Amity Bank Cameroon, Banque Méridien Biao Cameroon, Meridien Bank Cameroon and Afriland First Bank.

He was also CEO of Banque Continentale Africaine (BACAR) in Kigali, and was board member of many African companies, mostly banks and insurance firms.

“Ferdinand Ngon Kemoum has great assets to guarantee Oragroup’s continuous success,” declared Vincent Le Guennou, Co-CEO of Emerging Capital Partners. An opinion backed by a Togolese bank expert who lauds the new appointee’s experience.

Last April, Oragroup listed on the BRVM, the largest operation ever registered on the stock market. Data released last Friday shows that the group’s net banking income and net result soared to $221 million and $51.9 million respectively (+17% and 36% respectively) in 2018. Meanwhile, total balance sheet rose by 21% to stand at $3.7 billion over the period. This increase was pegged to a rise in deposits and loans in Togo. The latter grew by 24% and 16% respectively, standing at XOF1,462 billion and 1,255 billion.

REFORMS OVERVIEW

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