In 2022, Afriland First Bank Cameroun was granted a trade finance guarantee line totaling EUR 15 million. Following a successful two-year partnership, Proparco has decided to renew and increase this line to EUR 20 million, aiming to continue its support for international trade initiatives.
Established in 1987, Afriland First Bank Cameroun is part of the Afriland First Group, which operates across nearly 14 countries. As a leading player in the Cameroonian banking sector, Afriland First Bank Cameroun is particularly active in supporting Small and Medium Enterprises (SMEs), boasting a workforce of over 700 employees and serving approximately 600,000 customers.
Proparco’s guarantee will secure transactions for Afriland First Bank Cameroun on documentary credits opened with confirming banks abroad, including institutions such as Natixis, BRED, EBI SA, Attijariwafa, UBAF, QNB, and Banque Chaabi du Maroc. This initiative will bolster Afriland Bank’s trade finance capacity, thereby facilitating increased access to financing for local entities engaged in trade operations.
Emmanuel Haye, Head of Financial Institutions for Africa and the Middle East at Proparco, emphasized the importance of supporting Afriland Cameroun in financing essential imports amidst inflationary pressures, crucial for ensuring the supply of vital goods across Africa, a key priority for Proparco.
Youssoufa Bouba, Deputy General Manager at Afriland First Bank, highlighted the significance of the renewed partnership with Proparco in advancing international trade development in Cameroon. He underscored Afriland First Bank’s expertise and commitment to facilitating trade finance operations, leveraging their extensive global presence to offer comprehensive trade finance products and services to their clientele.
Aligned with Proparco’s 2023-2027 strategy, this project contributes to meeting several Sustainable Development Goals (SDGs), including SDG 1 (No Poverty), SDG 2 (Zero Hunger), and SDG 8 (Decent Work and Economic Growth), reinforcing efforts towards building a sustainable and resilient economy.
