(Business in Cameroon) – The board of directors of Chanas Assurances S.A., a subsidiary of Cameroon’s National Hydrocarbon Corporation (SNH), has appointed May Daphné Ngallé-Miano as its new Chief Executive Officer. Her three-year term took effect on November 7, 2025.
She succeeds Bibiane Francine Mbia, who had served as interim CEO since August 2025 and was praised by the company for her “stabilizing role during a transition period marked by significant operational and institutional challenges.”
Ngallé-Miano brings more than 20 years of experience in the banking sector, including as Director of Treasury and Markets, where she gained strong expertise in financial management and corporate strategy. A graduate of HEC Paris, her “innovative leadership and strategic vision” were described by Chanas Assurances as key assets for driving the company’s transformation.
According to the board, the appointment is part of efforts to modernize the firm and restore confidence among policyholders, partners, and regulators in an insurance market facing growing competition and increasing demands for transparency.
The leadership change comes as Chanas Assurances remains involved in an ongoing legal dispute. Eight former executives and employees, including former CEO Henri Théodore Bayouack, are being prosecuted for alleged offenses, including unlawful retention of property, misuse of corporate assets, and money laundering.
Others named in the case include Ela Astrid, Eloto Remy, Dikongue Noé, and Motto Pierre, charged with aggravated breach of trust, along with three former senior figures, Matanga Maurice (former Chairman), Augou Léonce (former CEO), and Soya Bissaya (former Chairman), accused of receiving stolen goods, misuse of corporate assets, and issuing bad checks.
According to the complaint, the board meeting of May 30, 2025, decided not to approve the 2024 financial statements due to “numerous inaccuracies and deficiencies.” An independent audit was subsequently ordered to review the period from January 2023 to June 2025 and assess the scope of irregularities.
With Ngallé-Miano’s appointment, Chanas Assurances aims to turn the page on internal crises and consolidate its market position, targeting a 10% increase in revenue and net profit this year.
The company is still pursuing a recovery plan launched in 2020 after several years of decline following a dispute between former CEO Jacqueline Cassalegno and SNH Managing Director Adolphe Moudiki. The conflict severely weakened the insurer, once a leader in the sector, thanks largely to contracts linked to SNH.
As part of its restructuring, SNH injected 2.3 billion XAF to raise Chanas Assurances’ share capital from 2.3 billion to 6 billion XAF, a move seen as crucial to stabilizing the company’s finances and sustaining its recovery.
Amina Malloum
