Mohamed Elbey Zakaria was appointed head of Asca Asset Management, a subsidiary of Attijariwafa Bank specializing in asset management within the CEMAC zone. The Central African Financial Market Supervisory Commission (COSUMAF) validated this appointment at the beginning of March, thus formalizing the succession of Georges James Ndzutue Fotso.
This designation is part of the regional expansion strategy of Attijariwafa Bank, which intends to strengthen its presence on the financial markets of Central Africa, in response to an increasing demand in investment solutions. The mandate entrusted to Mohamed Elbey Zakaria aims to expand the offer of Asca Asset Management through the development of collective vehicles and tailor -made solutions, in line with the needs of institutional and private investors.
The COSUMAF, in this context, recalled the regulatory requirements for governance, compliance and transparency to which the managers and shareholders of approved companies are. The regulator thus reaffirms its commitment to a rigorous supervision of asset management activities in the region.
A graduate in Banking and Finance of the University of London, Mohamed Elbey Zakaria has carried out most of his career in the Attijariwafa Bank group, in particular at Wafa Gestion, where he held portfolio management before directing the network of partners. He had started his career at Saint-Gobain Abrasives, in financial control.
As of December 31, 2023, ASCA Asset Management managed an outstanding 95.5 billion CFA francs spread over five funds, representing approximately 15 % of the regional market. The strengthening of this position is one of the priority objectives of new management, in a changing financial environment.
