Business News of Wednesday, 24 August 2016Source: Business in CameroonExpress Union subjects henceforth to COBAC oversightExpress Union branch, ArchivesWithin the framework of implementation of regulation n°01/15/Cemac/Umac/Cobac, relating to the supervision of financial holding companies and cross-border monitoring, the Deputy Secretary General of the Central African Banking Commission (COBAC) Christian Ouanzin, recently organised a workshop in Libreville, bringing together Express Union Group and its affiliates. He invited the representatives of the holding company to a genuine collaboration with COBAC, in order to have a better understanding of the Express Union Group in its entirety and a better assessment of its risk profile. Express Union is a Cameroonian financial company created in 1997 with its headquarters in Yaoundé. Initially, it specialised in rapid money transfers and its scope of activity is within Cameroon where it is market leader. Since 2006, the company obtained authorisation from COBAC and the Cameroonian Ministry of Finance to create a second category microfinance structure.

Source: CameroonWeb August 24, 2016 12:13 UTC