Cameroon: James Onobiono launches an investment company

The Cameroonian businessman James Onobiono Photo credit @Africa24tv
The Cameroonian businessman James Onobiono Photo credit @Africa24tv
The Cameroonian businessman James Onobiono Photo credit @Africa24tv

The Cameroonian businessman James Onobiono has launched on the 15th December 2014, a new company named Propero SA. According to the Cameroonian newspaper “Investir au Cameroun”, which quoted the Cameroonian legal notice released on the 14th January, 2015, James Onobiono, the businessman and ex-head of tobacco company Sitabac before it fallout with German shareholder Reentsma, has now set up the foundations of a new investment fund called Propero SA.

The same newspaper indicated that the company has an initial capital of 10 million FCFA and the directors are all members of the family Onobiono, in addition to the International Finance Corporation (IFC).

Indeed, the legal notice noted that Propero SA corporate main purpose is participation in “the subscription, purchase of securities, stocks and shares in all companies created or to be created, which may be directly or indirectly for corporate purpose or to any similar or related purposes, and by any means, including by way of contribution, subscription or purchase of shares, merger of shares, alliance of association or sponsorship.

Apart from his political activities, this was a long time since the former CEO of the Industrial Society of Cameroon tobacco (Sitabac), which controlled the distribution of cigarette market in the country for several years, had not talk about him in the business world.

About Khalid Al Mouahidi 4353 Articles
Khalid Al Mouahidi : A binational from the US and Morocco, Khalid El Mouahidi has worked for several american companies in the Maghreb Region and is currently based in Casablanca, where he is doing consulting jobs for major international companies . Khalid writes analytical pieces about economic ties between the Maghreb and the Mena Region, where he has an extensive network