Casino Exits Cameroon Wholesale Business, Handing BAO Cash & Carry to Local Investor

Nearly seven years after entering Cameroon’s wholesale distribution market, French retail group Casino has completed its exit from 3C Cameroun SASU, the company that operates the BAO Cash & Carry brand.

According to corporate documents reviewed by Business in Cameroon, ExtenC SAS, Casino’s international development subsidiary, sold its entire stake in the company to 2S Retail SARL, which now becomes the sole shareholder. The transaction received approval on January 16, 2026, and was formally executed before a notary on February 13. It also resulted in the appointment of Wilson Jonte as chairman and amendments to the company’s bylaws.

The legal formalities follow Casino’s earlier announcement that the sale of 3C Cameroun had taken effect on December 31, 2025. Financial terms were not disclosed. The deal involves a company with share capital of CFA2.47 billion and a network of seven stores, making it one of the most significant recent transactions in Cameroon’s modern retail sector.

An Exit From a More Challenging Market Than Expected

BAO Cash & Carry entered Cameroon in March 2018 with the opening of its first warehouse-style store in Douala, the brand’s first operation in French-speaking sub-Saharan Africa.

At the time, Casino had ambitious plans. The group expected to invest between CFA15 billion and CFA20 billion to develop a network of about ten warehouse stores in major cities including Douala, Yaoundé, Bafoussam and Ngaoundéré. Each location was expected to create up to 150 direct jobs. The rollout, however, fell short of those initial ambitions. At the time of the sale, BAO Cash & Carry operated five company-owned stores in Douala and two franchised outlets in Limbé and Nkongsamba.

The retailer nevertheless built a base of more than 3,000 active professional customers, maintaining a visible presence in the cash-and-carry segment that serves both wholesalers and small retailers.

A Buyer With Deep Knowledge of the Business

With the acquisition, 2S Retail takes control of a brand that has carved out a place in a niche but strategically important segment of Cameroon’s retail industry.

The new owner is no stranger to the business. Wilson Jonte, who leads 2S Retail, played a role in BAO Cash & Carry’s development since its arrival in Cameroon.

A graduate of HEC Paris, Jonte held several financial and administrative leadership positions within Casino before becoming deputy chief executive of 3C Cameroun. He also worked in other parts of the Casino group. His familiarity with the business likely influenced Casino’s decision as the French retailer shifts toward an international strategy that relies more heavily on local partners. According to commitments made during the transaction, the ownership change will not disrupt operations. Casino will maintain a commercial relationship with BAO Cash & Carry and continue supplying the network with private-label products.

The French group sees the deal as part of a broader international strategy centered on expanding its brands through franchise and partnership models rather than direct ownership.

Consolidation Comes Before Expansion

The new owner now faces the challenge of strengthening the business in a market where modern retail competition continues to grow, even as household purchasing power remains under pressure. Small retailers, restaurants and independent merchants make up a large share of BAO Cash & Carry’s customer base, making the company particularly sensitive to shifts in consumer spending and business activity.

Sources familiar with the matter say the priority in 2026 will be to stabilize and optimize the existing network before evaluating potential expansion plans from 2027 onward.

That phase will determine whether 2S Retail can turn a management buyout into a broader commercial revival. For BAO Cash & Carry, the issue is not simply a change of ownership. The company must now prove that its business model can deliver stronger profitability, attract more professional customers and adapt to a retail market where competition is increasing but traditional distribution channels still dominate.