Ifc And Afriland First Bank Partner To Empower Smes In Cameroon With Usd 60 M Boost

Thousands of small businesses in Cameroon are set to gain greater access to financing, thanks to a new partnership between the International Finance Corporation IFC , a global development institution and Afriland First Bank Cameroon , a player in Cameroons financial sector.

The partnership aims to provide up to USD 60 M in funding to help businesses expand, innovate, and create jobs.

With USD 20 M coming from IFC's own funds and USD 40 M mobilized from other lenders, this initiative is set to bridge the financing gap that has long held back SMEs, particularly those led by women. A key component of the effort is the Women Entrepreneurs Opportunity Facility WEOF, which will provide performance-based incentives to encourage more lending to women-led businesses.

This partnership goes beyond just financial support. IFC will also provide advisory services to Afriland First Bank, strengthening its ability to serve SMEs by enhancing its risk management framework and developing new financial products tailored to the needs of small businesses. By addressing these structural barriers, the collaboration aims to create a more inclusive and dynamic business environment in Cameroon, giving entrepreneurs the resources and confidence to expand their operations.

Afriland First Bank stands as a leader in Cameroon's financial sector, with a strong commitment to business financing. As of December 2024, its customer loans totaled CFAF 988.17 B USD 1.7 B, reflecting its strategic role in economic development within Cameroon and the broader CEMAC sub-region.