Johannesburg, South Africa –
A shocking case of financial injustice has rocked the Cameroonian business community, as billionaire investor Baba Ahmadou Danpullo finds himself embroiled in a high-stakes battle against South African banking and corporate interests.
Danpullo, a pioneering Cameroonian entrepreneur, has seen his multi-billion CFAF real estate empire in South Africa allegedly stripped away under questionable circumstances by the First National Bank (FNB) and a group of white South African elites. The case, which has drawn international attention, raises serious questions about racial and economic discrimination against African investors in South Africa.
A Desperate Plea to Julius Malema
Amid the silence from South African authorities, Cameroonians have turned to Julius Malema, leader of the Economic Freedom Fighters (EFF), in a last-ditch effort to seek justice. In a letter addressed to Malema, they expressed their heartbreak and frustration over what they described as a “gross injustice” inflicted upon Danpullo.
They highlighted how Danpullo took the bold step of investing in South Africa in the 1990s, at a time when the country was undergoing reconstruction. More than 30 years later, they claim he has been unfairly targeted, stripped of assets worth nearly 300 billion CFAF by FNB and South African elites, who allegedly used their influence at the highest levels of power to orchestrate his downfall.
Background of the Dispute
Baba Ahmadou Danpullo, known for his vast business ventures across Africa, has been a long-term investor in South Africa, owning multiple high-value buildings in the country. His trouble began in 2017 when FNB extended a loan of 22 billion CFAF to him for the acquisition of a new property. Danpullo personally contributed 2 billion CFAF towards the purchase, and the agreed repayment plan was set for ten years.
According to Danpullo, he never defaulted on his repayments. However, following the economic turmoil caused by the COVID-19 pandemic, a new management team at FNB demanded additional guarantees despite the property itself serving as sufficient collateral.
When Danpullo complied, thinking it was routine, he was blindsided in 2020-2021 when the bank suddenly required him to repay the remaining 14–15 billion CFAF in an unreasonably short period. The ultimatum, which came at a time when global economies were reeling from pandemic-related setbacks, was impossible to meet. The shocking consequence: the liquidation of Danpullo’s properties—assets valued at an estimated 300 billion CFAF—without his presence or that of his legal representatives.
A Blatant Case of Economic Sabotage?
The suspicious handling of the liquidation has sparked outrage. Key questions remain unanswered:
– Why was Danpullo singled out for sudden repayment demands when global economies, including South Africa’s, were still struggling to recover from the pandemic?
– Why did FNB ask for more collateral when the existing property was already worth far more than the loan amount?
– Why was the liquidation carried out without notifying Danpullo or allowing him to oversee the sale of his properties?
– Who acquired the liquidated properties, and for how much?
Despite exhausting all legal channels, Danpullo has found no justice in South Africa’s courts. His case reached the highest levels of diplomatic intervention, with Cameroonian President Paul Biya personally writing to South African President, Cyril Ramaphosa on November 22, 2021, through Minister Felix Mbayou. However, to date, President Ramaphosa has failed to respond.
A Test for South Africa’s Commitment to Pan-Africanism
Cameroonians and African economic stakeholders are now questioning whether a similar fate could befall any African investor in South Africa. Many find it unacceptable that while South African corporations like MTN and CHOCOCAM enjoy uninterrupted business operations in Cameroon, a Cameroonian entrepreneur has been subjected to what appears to be economic sabotage.
The Central African region, rich in natural resources but reliant on foreign expertise for processing, has long viewed South Africa as a potential partner for industrial growth. However, incidents like this could severely damage South Africa’s reputation and economic relations with its African counterparts.
Will Malema Take Up the Fight?
Knowing Malema’s reputation for standing up against injustice and his commitment to Pan-Africanism, Cameroonians are hopeful that he will take action where Ramaphosa has remained silent. In their letter, they urged him to intervene, asserting that his voice could tip the scales in favour of justice.
“We expect you to throw your weight on the balance for justice to be rendered on this matter,” the letter states, emphasizing that Ramaphosa’s actions should not define the entire South African people.
With Cameroonians and African investors watching closely, the fate of Danpullo’s case could set a precedent for future African investments in South Africa. If Malema takes up the challenge, it could be a turning point in the fight for economic fairness across the continent.
The letter reads: Honourable Julius Malema, we, the heartbroken Cameroonian people, write to you regarding the gross injustice inflicted upon our fellow countryman, Mr. Baba Ahmadou Danpullo.
“A visionary investor, Mr. Danpullo took the bold step of investing in South Africa’s real estate sector as early as the 1990s, at a time when the country was in dire need of economic reconstruction. However, more than 30 years later, he has been stripped of nearly 300 billion CFA francs worth of assets by First National Bank (FNB) and a group of white South Africans allegedly protected by the country’s leadership.
“The sequence of events leading to this injustice began in 2017 when Mr. Danpullo, the owner of multiple properties in South Africa, was approached by FNB with an offer to finance the purchase of a building worth 22 billion CFA francs. The bank provided the full loan amount, while Mr. Danpullo contributed 2 billion CFA francs personally. The loan was scheduled for repayment over a 10-year period.
“Despite making timely payments, the bank later cited possible financial shortcomings during the COVID-19 crisis. Mr. Danpullo, however, maintains that he never defaulted on his obligations. In 2020, a new management team at FNB unexpectedly began questioning the existing loan guarantees and demanded additional collateral, despite the building itself being sufficient security for the loan. Trusting in his good standing, Mr. Danpullo complied, unaware of an alleged conspiracy brewing against him.
“By 2020-2021, as the world emerged from the pandemic, the bank suddenly demanded the immediate repayment of the remaining 14 to 15 billion CFA francs, an impossible task given global economic constraints. The bank then proceeded to liquidate his assets, raising critical questions:
“How many debtors were asked to settle loans in such an abrupt manner post-COVID-19? Why were additional guarantees demanded when the property itself was a valid collateral? Why was liquidation carried out without Mr. Danpullo or his representative being present?
“Despite legal efforts to contest the seizure, justice remains elusive. President Paul Biya of Cameroon intervened by addressing a letter to President Cyril Ramaphosa via Minister Felix Mbayou on November 22, 2021, urging a resolution. Shockingly, President Ramaphosa has yet to respond.
“This raises concerns over whether such treatment would be meted out to investors from other countries. South African businesses such as MTN and CHOCOCAM operate freely in Cameroon, repatriating billions in profits annually. Why, then, is a Cameroonian entrepreneur facing such targeted economic oppression?
Furthermore, the Central African sub-region is rich in natural resources but lacks the technical expertise for refinement—an area where South African know-how could be beneficial. However, President Ramaphosa’s inaction and alleged collusion with white elites threaten long-term economic relations between our nations.
Honourable Malema, we appeal to you as a last resort. If President Ramaphosa ignored President Biya’s letter, we trust that you, a champion of Pan-African unity and justice, will not ignore our plea. Your intervention could restore faith in South Africa’s justice system and prove that the actions of a few do not reflect the will of the entire South African people.
“We eagerly await your response and thank you for your unwavering commitment to a united and prosperous Africa.
“Yours sincerely, The Cameroonian People.”
