BICEC is a universal bank which focuses the bulk of its activity on financing Cameroonian companies. Consequently, the strengthening of its medium and long-term credit capacity directly benefits the country’s private sector.
BICEC is a Cameroonian universal bank with a diversified range of products and a nationwide network of 37 branches. It is 68%-owned by BPCE International (BPCE Group) and 18% by the State of Cameroon. It is a major player in financing the national economy, with 80% of its activity dedicated to corporate financing.
Proparco’s financing will allow BICEC to develop its medium and long-term credit activity with Cameroonian companies. The bank is very active in a wide range of sectors, including the energy, agribusiness, telecoms, manufacturing industry, retail and distribution sectors.
This operation will strengthen the local financing capacity in a country where long-term financial resources are insufficient. It will thereby contribute to private sector development in key economic sectors. Finally, it will contribute to diversifying BICEC’s financing sources.