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Cameroon: Sterghios Dassarecos, New CEO Of Société Générale

SOCIETE GENERAL
New CEO

He replaces Nicolas Pichou, who has been in the position since September 2021.

 

 

Less than two years after his arrival at the head of the French bank Societe Generale, Nicolas Pichou gives way to Sterghios Dassarecos.

Sterghios Dassarecos before arriving in Cameroon was the General Manager of Société Générale Mozambique. The latter was received on Monday, June 6, 2022 by the Minister of Finance Louis Paul Motaze. The meeting was also attended by the Director of the Central and East Africa region of the French group Marème Mbaye Ndiaye.

At 48 years old Sterghios Dassarecos, a financial expert, is taking the helm of a rapidly growing bank. Despite the difficult economic context in 2020 marked by the coronavirus health crisis, SGC granted 802 billion CFA francs (1.4 billion euros) in credit, distinguishing itself as the leader in this segment with a 19.2% market share.

Following a memorandum of understanding signed with the State, SGC has opened a line of credit dedicated to the financing of small and medium-sized enterprises (SMEs) to the tune of CFAF 25 billion in order to support the productive sector in positioning itself for the post-Covid-19 era.

Moreover, over the last two years, SGC has distinguished itself as one of the main animators of the public securities market with 127 billion FCFA (193 million euro) mobilized, that is to say an increase in subscriptions of 500% which allowed it to be among the best Specialist in Treasury Securities .

However, Sterghios Dassarecos comes at a time when opinions on the digitalization of the French bank are mixed. Indeed, SGC has closed its electronic wallet on the African market and Cameroon is concerned. Perhaps he will return to this issue that so far does not find clear answers in the minds of subscribers and workers. As a reminder, it is on July 1 that Yup will definitely leave the mobile money scene in Africa.

 



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mm Published on 01.08.2022

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