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Afriland-Proparco-2024
DR
In 2022, a guarantee (trade finance) line was granted to Afriland First Bank Cameroun for a total amount of EUR 15 million. Following two years of partnership, Proparco is renewing this line, increasing it to MEUR 20, in order to continue its support for international trade.

Founded in 1987, Afriland First Bank Cameroun is part of the Afriland First Group, which is present in nearly 14 countries. The leader in the Cameroonian banking market, First Bank is very active in the SME segment, with more than 700 employees and a portfolio of around 600,000 customers.
With this guarantee, Proparco will secure the transactions of the issuing bank, Afriland First Bank Cameroun, on documentary credits opened with confirming banks located abroad (for example: Natixis, BRED, EBI SA, Attijariwafa, UBAF, QNB, Banque Chaabi du Maroc). This will enable Afriland Bank to increase its trade finance capacity and consequently provide local players with new sources of financing for their trade operations.

Emmanuel Haye, Head of the Financial Institutions division for Africa and the Middle East at Proparco: “We are pleased to support Afriland Cameroun with this guarantee, which will help finance essential imports in a context of inflation. Ensuring the supply of essential goods in Africa is one of Proparco's priorities”.

Youssoufa Bouba, Deputy General Manager at Afriland First Bank: "This renewed partnership with Proparco demonstrates our strong commitment to support the development of international trade in Cameroun. As a leading bank in the market, Afriland First Bank stands out for its expertise and commitment to finance trade finance operations. We are present in several regions of the world that make us in-depth knowledge of international trade markets and key players. This international reach enables our institution to offer a full range of trade finance products and services to our portfolio companies.”

This project is in line with Proparco's 2023-2027 strategy and fits with 1st Pillar: "Investing in a sustainable and resilient economy project will help meet three Sustainable Development Goals (SDGs): SDG No. 1 (No Poverty), SDG No. 2 (End hunger, achieve food security and improved nutrition and promote sustainable agriculture), SDG No. 8 (Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all)