CAMEROON
ZENITH BANK PLC EXPANSION INTO CEMAC REGION
On Wednesday 20th May 2026, The Nigerian Banking giant ZENITH BANK PLC which is ranked the third largest Bank by an annual turnover of 15.6 billion USD as of 2024-2025 announced its plans to expand its banking activities into the CEMAC region with Cameroon as their Regional headquarters.
The Bank Group already operates in Nigeria, Ghana, Sierra Leone, The Gambia, Côte d’Ivoire, United Kingdom, France, the United Arab Emirates and China.
The announcement came after the April 29th inauguration of the Nigerian Lender’s Subsidiary held in Abidjan, Ivory Coast marking its footprint in the West African Economic and Monetary Union (WAEMU).
Two other Nigerian banks, Access Bank and UBA, are already present in Cameroon and doing well.
Zenith Bank’s choice of Cameroon reflects the country’s strong and imposing presence in CEMAC’s banking sector. There are no clear indications as to how it intends to mark this giant entry which could be through acquisition of an existing financial institution, establishment of a subsidiary or a merger. However, this move will be determined through a COBAC licence approval.
#Cameroon# #Finance# #Nigera# #ZenithBank# #CEMAC# #Banking#
GABON
INSTITUTIONS IN GABON LAUNCH CREDIT GUARANTEE FUND FOR SMALL BUSINESSES
As of May 20th, 2026, Three Gabonese Institutions: Banque pour le Commerce et l’entrepreneat du Gabon (BCEG), Eparhne & Developpement du Gabon (EDG) and Assala Gabon have signed a partnership agreement establishing a guarantee fund estimated at 200 million CFA- Francs (353,000 USD) aimed at expanding access to credit for small businesses and individual entrepreneurs.
The Guarantee Fund is aimed at partially covering the financial risk and expenses associated to small size and startup entrepreneurs in Gabon. This Fund gives the opportunity for entrepreneurs to apply for up to 10 million CFA at an interest rate of 6% which is way below the rate charged by commercial banks in the country. Noting that, the repayment terms range from 12-24 months.
At OL & Partners, our Finance practice experts understand that, this initiative is in alignment with the objectives mentioned by the Gabon National Development Plan for Transition (PNDT) 2024-2026 which calls for stronger economic diversification to reduce longstanding dependence on hydrocarbons and imports thus scaling up the GDP of the Country.
#Finance# #Gabon# #Starup# #loans# #Entrpreneurs#
GHANA
GHANA ANNOUNCES 1000MW EMERGENCY POWER INTERVENTION AS A STEP TO BREAK AFRICA’S ENERGY BARRIERS
The economy of Ghana is one of the fastest growing in West Africa, driven by agriculture, mining, oil, services, and energy. Energy distribution in Ghana is mainly managed by the: Electricity Company of Ghana (ECG), Northern Electricity Distribution Company (NEDCo) and the Ghana Grid Company (GRIDCo)
Speaking at the commencement ceremony of the African Energy Technology Conference 2026 in Accra, Mr. Julius Debrah (Chief of Staff) on behalf of Ghana’s President urged leaders and Regional blocs to remove obstacles limiting energy trade and infrastructure development across African borders with the announcement of the country’s 1000mW Emergency Power Intervention.
Ghana is investing in Renewable energy (especially solar), Grid modernization, Rural electrification, Regional electricity trade in West Africa and Private sector participation in power generation.
At OL & Partners, our Energy practice experts understand that, Africa has huge renewable energy potentials with the presence of Solar in the Sahara and Sahel, Hydropower in Central and East Africa, Wind along coastal Regions. Regional collaboration and integration allow renewable energy to be distributed where needed most. Many African countries belong to different Regional Economic Communities with different regulations, tariffs, and energy policies, often slowing cooperation and electricity trade across borders. Eliminating barriers created by separate Regional blocs can greatly improve energy integration in Africa.
#Africa# #Energy# #Energy Regional Collaboration# #Regional Integration# #Energy Efficiency#