Cameroon’s richest man Baba Danpullo-linked firm takes 10% stake in MSC’s logistics business

Cameroon’s richest man, Baba Ahmadou Danpullo, through Cameroon Continental Merchants Limited (CCML), a corporate vehicle and investment arm, has acquired a 10% stake in AGL Cameroon, giving it over 30,000 shares in one of the country’s major logistics and transport businesses.

CCML acquired 31,575 shares in AGL Cameroon, according to a legal notice reviewed. The company’s board unanimously approved the transaction on December 23, 2024, with the shares transferred from Africa Global Logistics to its Cameroonian subsidiary.

CCML takes 10% stake in AGL Cameroon

The transaction was approved during a board meeting and formalized through minutes filed with Douala notary Régine Dooh Collins-Ekollo, which recorded CCML’s admission as a new shareholder.

The purchase price has not been disclosed. Following AGL Cameroon’s recapitalization, its share capital stood at CFA10.62 billion ($18.85 million), divided into 315,750 shares with a nominal value of CFA33,639 each.

CCML’s 31,575 shares therefore represent exactly 10% of the company and have a combined nominal value of approximately CFA1.06 billion ($1.88 million). This represents the accounting value of the shares and not the price paid for the stake.

Danpullo’s longstanding business ties

CCML has been associated with Baba Danpullo for several years. In 2019, Continental Merchants was the businessman’s group in connection with proposed local investment in the container terminal at the Port of Douala.

The company also has a decades-long presence in the country’s industrial economy. A UNIDO report based on investigations conducted in 1992 identified CCML as the largest shareholder in Société Camerounaise de Minoteries, with a 52.9% stake.

AGL expands Danpullo’s logistics exposure

AGL is part of Africa Global Logistics, the former Bolloré Africa Logistics business acquired by Mediterranean Shipping Company in December 2022 and renamed AGL in 2023.

The group operates across logistics, port terminals, maritime services and rail transport in Africa. CCML’s acquisition therefore gives the Danpullo-linked company direct exposure to a major logistics operator in Cameroon. 

Danpullo has also continued expanding his investment interests. In July, he launched Danpullo Capital with Swiss investment manager Kessner Capital, a Douala-based joint venture established to manage the family’s assets. He has also announced plans to invest CFA500 billion ($850 million) in Danpullo Air Line and two private airports in Yaoundé and Douala, with construction in Yaoundé expected to begin this month.