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Thousands of small businesses in Cameroon will soon have improved access to financing through a new collaboration between the International Finance Corporation (IFC) and Afriland First Bank Cameroon. This partnership aims to provide up to USD 60 million in funding to support business expansion, innovation, and job creation.
The funding will include USD 20 million from IFC’s resources and USD 40 million from other lenders, targeting the long-standing financing gap for small and medium enterprises (SMEs), particularly those led by women. A significant aspect of this initiative is the Women Entrepreneurs Opportunity Facility (WEOF), which offers performance-based incentives to boost lending to women-owned businesses.
Beyond financial assistance, IFC will offer advisory services to Afriland First Bank, enhancing its ability to support SMEs through improved risk management and new financial products tailored to their needs. This collaboration seeks to create a more inclusive business environment, empowering entrepreneurs to grow their operations.
Afriland First Bank, a leader in Cameroon’s financial sector, plays a vital role in economic development, with customer loans reaching approximately USD 1.7 billion as of December 2024. The bank provides innovative financial solutions for businesses of all sizes, supported by a wide network of branches and international connections. Recognizing the critical role of SMEs in economic growth, Afriland First Bank has established mechanisms to foster collaboration and knowledge-sharing among businesses.
Célestin Guela Simo, CEO of Afriland First Bank, emphasized the importance of SMEs to Cameroon’s economy and expressed excitement about the partnership with IFC. Dahlia Khalifa, IFC’s Regional Director for Central Africa and Anglophone West Africa, reinforced the commitment to empowering SMEs as a means to drive innovation, create jobs, and enhance economic resilience.
This initiative aligns with IFC’s broader strategy for Cameroon, which includes improving digital infrastructure, strengthening domestic value chains—especially in agriculture—and addressing urban infrastructure needs, including renewable energy. By enhancing the business landscape, IFC aims to support Cameroon’s transition to a more sustainable and diversified economy.
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As a member of the World Bank Group, IFC is the largest global development institution focused on the private sector in emerging markets. In the fiscal year 2024, it committed a record USD 56 billion to private companies and financial institutions, emphasizing its role in fostering global development. Through this partnership, improved financial access and strategic support will unlock opportunities, promote business growth, and contribute to a stronger, more resilient Cameroonian economy.
