(Business in Cameroon) – Elite Capital Asset Management met with Fongod Edwin Nuvaga, Director General of Customs, on October 15. The meeting took place on the sidelines of a two-week awareness and outreach campaign targeting central and regional Customs departments.
The goal was to explore collaboration opportunities around financial products suited to Customs’ needs, Bernadette Ondobo Eloundou, business officer at Elite Capital, explained. “We presented three main options: an institutional offer for Customs, another for mutual funds, and one for staff members. The Director General gave us a framework for next steps”.
With CFA181.7 billion in assets under management, representing 77.3% of its consolidated holdings at the end of 2024, Elite Capital holds an 18.9% market share, confirming its position among Cameroon’s leading asset managers. The firm aims to strengthen this presence by expanding institutional partnerships, particularly with public and semi-public entities with strong savings potential.
This strategy comes amid strong growth in the asset management industry. By the end of 2024, total sector assets reached CFA959 billion, up more than 40% year-on-year, according to the regulator. The trend reflects both the increasing maturity of Cameroon’s financial market and the growing role of asset managers in financing the real economy.
By engaging with the Customs administration, Elite Capital seeks to deepen its involvement in public savings mobilization and management. Such cooperation could help diversify institutional investments and promote professional financial management within public entities.
