The Banking Commission of Central Africa (COBAC) has revoked the operating license of Financial Development Chad (FINADEV Tchad S.A.), a microfinance institution, which is now under liquidation.
The official statement, released on May 21, confirms that COBAC’s decision, dated February 5, 2026, strips FINADEV Tchad S.A. of its second-category microfinance license in N’Djamena.
Following the formal notification of this ruling, FINADEV Tchad S.A. has entered into liquidation proceedings without delay.
The liquidation process is set to last up to one year, with the possibility of renewal if circumstances require it.
