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Supporting imports in Cameroon

Project

Financial services
Signature date
Location
Cameroon
Financing tool
Guarantee
Financing amount (Euro)
20000000
Financing details
EUR 20m Guarantee
Customer
AFRILAND FIRST BANK
Type of customer
Financial institution
Country of headquarters
Cameroon
Project number
PCM1136
Environmental and social ranking
IF-C
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This information is given at the time of signature, without prejudice to any developments in the operation/project.

Proparco is supporting the Trade Finance activity of Afriland First Bank through the allocation of a EUR 20m portfolio guarantee.

Client presentation

Founded in 1987, Afriland First Bank Cameroon is part of the Afriland First Group, which is present in 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 clients.

Project description

With this guarantee, Proparco will secure the transactions of the issuing bank, Afriland First Bank Cameroon, 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 import operations.

Project impact

This guarantee will facilitate import financing in a period of inflation, support the integration of developing economies into world trade, and help secure the supply of essential goods in Africa. 

The project contributes to the achievement of Sustainable Development Goals n° 1 (“No poverty”), n° 2 (“End hunger, achieve food security and improved nutrition and promote sustainable agriculture”) and n° 8 (“Decent work and economic growth”).