Alios Finance Cameroon Plans Capital Increase After Credaf Takeover

One year after coming under the control of Côte d’Ivoire-based Credaf Group, Alios Finance Cameroon is preparing to increase its share capital as part of a broader effort to strengthen its financial position.

According to a notice sent to shareholders, the financial institution will hold an extraordinary general meeting on June 16, 2026, to consider a capital increase through the incorporation of reserves.

The proposed transaction is one of the key items on the meeting’s agenda. Unlike a traditional capital increase that raises fresh cash from shareholders through the issuance of new shares, the operation would convert part of the company’s existing reserves into share capital. At this stage, neither the size of the planned increase nor the company’s post-transaction capital level has been disclosed. According to the latest available financial data, Alios Finance Cameroon currently has share capital of CFA2.499 billion.

The move comes as banking regulators in Central Africa tighten capital requirements. Under new rules issued by the Central African Banking Commission (COBAC), the minimum share capital required for financial institutions has increased to CFA4 billion from CFA2 billion previously. As a licensed financial institution, Alios Finance Cameroon could use the planned capital increase to move closer to the new regulatory threshold, although the exact impact will depend on the size of the operation.

The initiative also reflects the strategic changes underway since Credaf Group acquired several Alios Finance subsidiaries across Central and West Africa. On April 30, 2025, the financial holding company controlled by Ivorian businessman Serge-Aimé Bilé completed the acquisition of Alios Finance operations in Cameroon, Gabon, Côte d’Ivoire, Burkina Faso, Mali, and Senegal after receiving the necessary regulatory approvals.

The transaction made Credaf the main shareholder of Alios Finance entities operating in both the CEMAC and WAEMU regions. The group has said it aims to build a pan-African financing platform, leveraging Alios Finance’s long-established expertise in leasing and asset finance.

Credaf’s strategy includes expanding financial products, accelerating digital services, diversifying financial and institutional partnerships, and increasing support for businesses across its markets. The planned operation in Cameroon appears to be part of a broader effort to strengthen the capital base of the group’s subsidiaries.

In Côte d’Ivoire, Alios Finance Côte d’Ivoire, which is listed on the Regional Stock Exchange (BRVM), launched a CFA1.5 billion capital increase in April 2026 through the issuance of 3.75 million new shares priced at CFA400 each. The transaction was designed to support the company’s growth plans. The situation in Cameroon is different. Because the proposed capital increase relies on reserves rather than new shareholder contributions, it will not generate additional cash to fund business activities directly.

Instead, the operation is intended to strengthen the company’s capital structure and improve its regulatory standing at a time when capital requirements across the region are becoming more demanding. If shareholders approve the proposal on June 16, the transaction will represent one of the first concrete steps in Credaf’s restructuring strategy for Alios Finance Cameroon.

The key question now is whether the increase will be sufficient to bring the company’s capital up to COBAC’s new minimum requirement or whether additional recapitalization measures will follow in the coming months.

Amina Malloum