The Debt Recovery Corporation is forced to return the assets of Gabriel Kondo Ebelle seized in the case against the State of Cameroon.
The Debt Recovery Corporation (SRC) must return all the assets of businessman Gaby Kondo. The decision was rendered by the Littoral Court of Appeal on February 26, 2026, at the end of a hearing. The judge, Adama Moussa Epse Domche, decided to annul the payment order of April 12, 2024, which favored the seizure and auction of the businessman’s assets. According to the judge’s decision, the said order does not indicate the references of the free formal notice under which the proceedings are carried out.
Read more Oil and constitution: the refoundation according to Babissakana
Its annulment is thus in favor of Gabriel Kondo Ebelle in that it leads to the restitution of his assets seized by the Debt Recovery Corporation of Cameroon. It was acting on behalf of the State of Cameroon under a mandate from the Union Bank of Cameroon (UBC). The State has owned 54% of the bank’s capital since 2021 following the exit of Ecobank Cameroon from UBC’s capital. Its action aimed to forcibly recover funds to reimburse the State, for which Gabriel Kondo is jointly and severally liable with the company PACK INDUSTRY S.A.
In June 2025, the SRC announced the auction of Gabriel Kondo’s assets. A few days later, the summary judge of the Bonanjo Court of First Instance ordered the suspension of this sale until the end of the proceedings initiated before the enforcement litigation judge, which were still pending before the court.
Read more Crimes of passion in Cameroon: the warning of a mental health expert
According to the SRC notice announcing the auction, these assets consisted, among others, of a Toyota Land Cruiser vehicle registered under number LT 628 MK with a starting price of 61,547,000 CFA francs; a Mercedes Maybach vehicle registered under number LT 953 LW at 119,000,000 CFA francs; a vehicle of the same brand registered under number LT 683 JP at 70,776,000 CFA francs. Another Rolls Royce vehicle registered under number LT 414 CE (not removed). Other movable assets were on the list. The SRC must return them starting February 26, 2026, under penalty of paying one million FCFA per day of delay.
Read more Cameroon: at least five dead in a new Boko Haram attack in Bargaram
