Renaprov Finance S.A., a second-tier microfinance institution operating in Cameroon since 1996, has extended the subscription period for its share offering on the Central African Stock Exchange (Bvmac) to May 15, 2026. The decision follows limited investor participation in the ongoing initial public offering.
According to Afriland Bourse & Investissement, the lead arranger of the transaction, only CFA1.1 billion had been raised as of March 15, the original closing date, out of a target of CFA8.4 billion. The extension is intended to attract additional investors to the offer, which was launched in December 2025 and seeks to open 44.4% of the company’s capital.
In a statement released on April 15, Afriland Bourse & Investissement said interest in the offer had increased in recent weeks. “In light of this positive momentum and to respond to unmet subscription requests, Renaprov Finance S.A., in consultation with regulators, has decided to open a final subscription window,” the firm said, adding that the offer remains available at a price of CFA21,000 per share.
The funds raised are expected to significantly strengthen Renaprov’s equity base and expand its lending capacity. The institution also aims to diversify its offerings beyond short-term working capital loans by increasing medium- and long-term financing, particularly in real estate, infrastructure, and productive investment.
To support this strategy, Renaprov plans to increase its equity from CFA2.78 billion in 2024 to more than CFA10.5 billion by 2026. Combined with the opening of six new branches in Douala, Dschang, and Bafoussam in 2026, the capital increase is expected to drive a 20% rise in its loan portfolio.
Growth is projected to reach 25% in 2027, supported by the full operation of existing branches and the addition of nine new locations. In 2028, four more branches in the Littoral and northern regions are expected to lift growth to 28%, followed by a projected 30% increase in 2029, driven by a more mature network, stronger financial capacity, and the expansion of digital lending.
Renaprov’s shareholding is currently concentrated around its founder and chief executive, Emmanuel Noël Bissai, who holds 86% of the capital. Esther Bebga, his spouse, owns 8.11%, while Jacques Tanga Ntone holds 3.83%. The listing is intended to broaden the shareholder base, improve financial transparency, and support a stronger growth trajectory.
BRM