CAMEROON TRENDS AND DEVELOPMENTS Contributed by: Zangue Serges Martin, Brandon Ntahdui and Joël Noussie, Zangue & Partners
This regulation entered into force on 1 September 2025 and applies, in terms of institutional scope, to credit institutions, microfinance institutions, payment institutions, and deposit and consignments funds. In terms of material scope, it covers unclaimed assets, inactive safe deposit boxes and inactive accounts. It establishes specific procedures for the management and treatment of inactive accounts and safe deposit boxes, as well as for unclaimed assets. This legal framework aims to strengthen consumer confidence in banking products and services, reduce potential disputes between financial institutions and the holders or rightful beneficiaries of such assets, and preserve financial stability within the CEMAC region, thereby fostering a more secure and invest - ment-friendly financial environment. Harmonisation of the legal status of deposit and consignment funds within CEMAC member states A deposit and consignment fund is a public institution established by the state to serve the public interest. These funds are entrusted with the administration of funds and securities deposited with them, as provided by law, and play a key role in financing the economic and social development of the state. CEMAC has recently sought to harmonise the legal status of deposit and consignment funds across its member states through Regulation No 01/25/CEMAC/ UMAC/CM/COBAC of 12 July 2025, concerning the conditions of operation and supervision of deposit and consignment funds within the CEMAC area, which entered into force on 1 September 2025. Previously, each member state maintained its own national legal framework governing such institutions, often with significant divergences. This lack of uni - formity was deemed detrimental to the region’s eco - nomic development, given that deposit and consign - ment funds serve as vital instruments for financing CEMAC economies. The new regulatory framework establishes com - mon rules governing the operation and supervision of deposit and consignment funds throughout the CEMAC zone. Considering the risks inherent to their activities, this harmonised legal framework is essential
to safeguard the region’s financial stability and pro - mote an environment conducive to investment. The Regulation grants existing deposit and consign - ment funds within CEMAC a three-year transitional period from its entry into force to ensure full compli - ance with its provisions. Moreover, CEMAC member states are required to align their national legislation with the Regulation’s provisions within one year from its effective date. Capital markets In May 2025, the financial market regulator of CEMAC, namely, the Central African Financial Market Super - visory Commission ( Commission de Surveillance du Marché Financier de l’Afrique Centrale COSUMAF), issued a series of new instructions to strengthen the regulation and supervision of the CEMAC financial market, improve reporting requirements, and stand - ardise internal control and fund management prac - tices. It should be noted that these instructions were for the most part issued in application of the already- existing (i) Regulation No 01/22/CEMAC/UMAC/CM/ COSUMAF on the organisation and operation of the Central African financial market of 21 July 2022 and (ii) the General Regulation of COSUMAF of 23 May 2023. These instructions include the following. • Authorisations and regulatory compliance: (a) COSUMAF Instruction No 42/25 on the condi - tions and procedures for authorising financial investment advisers ( Conseiller en Investisse- ment Financiers CIFs). • Reporting and disclosure requirements: (a) COSUMAF Instruction No 41/25 on the fre - quency and formats of reporting for Custodi - ans, fund management companies ( sociétés de gestion et d’organisation de fonds SGOs) and investment services ( services d’investissement IS); (b) COSUMAF Instruction No 40/25 on the content of the internal control report for asset manage - ment companies and IS; (c) COSUMAF Instruction No 39/25 on the content of internal control reports for stock exchange
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