Société Générale’s Cameroon Mobile Money Unit to Liquidate Amid Financial Woes
- YUP Cameroon, a mobile money subsidiary of Société Générale, has been declared officially in liquidation.
- The move to liquidate YUP Cameroon was driven by its worsening financial health.
- In 2022, YUP Cameroon concluded its operations, revealing that only 22,332 of its 689,071 opened accounts were used.
The liquidation of YUP Cameroon is a significant setback for Société Générale and highlights the challenges faced by the mobile money subsidiary. The low usage of accounts and the company's financial struggles ultimately led to its dissolution. It will be interesting to see how the liquidation process unfolds and how the stakeholders are affected.
