Gabonese financial group Samb’a Finances Holding is taking its microinsurance business into Cameroon, targeting customers in a market that generated CFAF 288.7 billion ($511.15 million) in insurance premiums in 2024.

The group is preparing to seek regulatory approval for Samb’a Assurances Cameroun S.A., its newly established subsidiary in Douala, as it looks to reach customers who remain underserved by traditional insurance providers.

Samb’a said it held a meeting on Sept. 4 to prepare its license application, which will be submitted to Cameroon’s Ministry of Finance through the Directorate of Insurance.

The application is the latest step in a regional expansion that could give the Gabonese group access to Cameroon’s large informal economy, where millions of workers, traders and small businesses have limited access to conventional insurance.

Samb’a builds its Cameroon customer base

Samb’a Assurances Cameroun was incorporated on May 21, 2026, with more than CFAF 615 million ($1.09 million) in share capital and 59 shareholders.

The company plans to offer microinsurance products with premiums starting at CFAF 3,500($6.19) a month, targeting informal-sector workers, farmers, small traders, artisans, artists, associations and small businesses.

It has applied to operate in eight microinsurance lines and expects to distribute policies through mobile money platforms, microfinance institutions and community networks.

That distribution strategy could be important in a country where mobile financial services and informal businesses provide access to millions of consumers outside traditional banking and insurance channels.

Cameroon’s insurance market keeps growing

Cameroon’s overall insurance industry generated CFAF 288.7 billion($511.15 million) in premiums in 2024, up from CFAF 274.6 billion($486.18 million) a year earlier, according to indicators published by the Ministry of Finance on Feb. 18, 2026.

Property and casualty insurance accounted for CFAF 190.3 billion($336.93 million), while life insurance contributed CFAF 98.4 billion($174.22 million).

Although microinsurance is a separate segment from conventional insurance, the size and growth of Cameroon’s broader insurance market offer Samb’a an established financial-services base as it seeks to build a customer network.

Samb’a expands beyond Gabon

The Cameroon move comes nearly two years after Samb’a Assurances began operations in Gabon on Sept. 18, 2024, with CFAF 610 million($1.08 million) in capital.

Its Cameroon subsidiary is now positioned to become the group’s next major step in expanding its insurance operations in Central Africa.

However, Samb’a Assurances Cameroun cannot begin operations immediately.

The company must first secure approval from Cameroon’s authorities under the country’s insurance regulations.

If the application is approved, Samb’a will enter Cameroon with a business model built around affordable premiums and distribution channels designed to reach customers traditionally left outside mainstream insurance.