Johannesburg, South Africa / Yaoundé, Cameroon – The economic war between South Africa and Cameroon has taken a dramatic turn, exposing a shocking betrayal of African economic solidarity. In what is being called a modern-day financial heist, Cameroonian billionaire Baba Ahmadou Danpullo has been ruthlessly stripped of his vast real estate empire in South Africa. The move, orchestrated by South Africa’s banking elite and facilitated by a complicit judicial system, has ignited diplomatic tensions between the two nations.
A Trusted Investor, Betrayed by the System
For decades, Baba Danpullo, a self-made billionaire and Africa’s biggest private real estate investor, believed in the promise of South Africa’s post-apartheid economic transformation. Answering Nelson Mandela’s call for African investment, he poured billions of FCFA into the country’s real estate sector, building a formidable empire worth over 300 billion FCFA.
However, that faith was repaid with treachery. In 2017, Danpullo secured a 22 billion FCFA loan from First National Bank (FNB), one of South Africa’s top financial institutions, to expand his real estate holdings. The terms of the loan were clear: a decade-long repayment plan with a 2 billion FCFA collateral guarantee.
When COVID-19 ravaged the global economy, crippling businesses worldwide, Danpullo—like many investors—faced financial constraints. Instead of negotiating in good faith, FNB pounced. The bank demanded immediate repayment of the entire loan, disregarding pandemic-induced economic turmoil.
In a desperate attempt to protect his investments, Danpullo offered his entire 300-billion-FCFA portfolio as additional security. Yet, in an unprecedented move that reeks of economic sabotage, his properties were seized, auctioned off in secret, and transferred to powerful South African elites—without his consent, without due process.
The Fallout: Cameroon Strikes Back
Angered by this daylight robbery, Danpullo took his fight to the courts—this time in Cameroon. With South Africa’s Public Investment Corporation (PIC) holding major stakes in lucrative Cameroonian businesses like MTN Cameroon and Chococam, the Cameroonian judiciary has taken decisive action. Courts have approved the freezing of assets linked to these South African corporations, sending shockwaves through the region’s financial markets.
MTN Cameroon, a telecommunications giant that raked in 123 billion FCFA in profits in 2023 alone, now finds itself embroiled in a retaliatory legal battle. Chococam, another South African-controlled company, is also feeling the heat as Cameroon moves to reclaim what it sees as the stolen wealth of its most prominent businessman.
Black-on-Black Economic Warfare: A Betrayal of Pan-Africanism
The saga has sparked outrage across the continent. How could South Africa—a country that once relied on the solidarity of fellow African nations to fight apartheid—turn on one of its biggest African investors?
Economic analysts argue that this scandal reveals the deep-rooted inequalities still festering within South Africa’s financial institutions. While black South Africans continue to struggle against systemic economic exclusion, the country’s financial powerhouses remain dominated by white elites, who hold the real levers of economic control.
The betrayal of Baba Danpullo is not just an isolated case—it is a warning. If South Africa can do this to an African billionaire who invested billions in their country, what fate awaits smaller African investors trying to build wealth across borders?
A Call for Justice
Danpullo, a man who rose from humble beginnings to become a symbol of African entrepreneurship, refuses to be silenced. His legal battles continue, and his supporters are demanding that South Africa return his assets and compensate him for the injustice inflicted upon him.
The diplomatic rift between Cameroon and South Africa is deepening. Cameroon has made it clear that if South Africa refuses to rectify this economic crime, it will not hesitate to further target South African business interests within its borders.
As the continent watches, one question looms large: will South Africa uphold the values of justice and economic fairness it once fought for, or will it cement its place in history as the nation that turned against its own African brothers?
