Telecoms: Saconets plans a CFAF 681 million capital increase for Cenainvest, linked to Afriland

Cameroonian company Satellite Communications and Network Services (Saconets) plans a CFAF 681.2 million capital increase reserved for Cenainvest, a private equity firm historically linked to Afriland First Bank. Shareholders are due to consider the proposal in Yaoundé on November 9, 2026, at a meeting called by board chair Ghislaine Kammogne Simo. The increase would convert a debt into shares after other shareholders’ pre-emptive subscription rights are waived. The transaction would reduce Saconets’ liabilities and increase its equity without bringing in new cash.