IFC and Afriland First Bank Cameroon Partner to Boost SME Financing in Cameroon

Yaounde , Cameroon, April 02, 2025 – IFC and Afriland First Bank Cameroon (First Bank) today announced a partnership to increase access to finance for thousands of smaller businesses in Cameroon, helping them expand, enter new markets, and create jobs.  

Under the partnership, IFC will loan First Bank up to $60 million equivalent in euros, including $20 million from IFC’s own account and $40 million mobilized from other lenders. In addition, the Women Entrepreneurs Opportunity Facility (“WEOF”) is providing performance-based incentives up to 0.07% of the outstanding IFC senior loan to support lending by Afriland to women-owned/led enterprises, WEOF, launched by IFC through its Banking on Women Program, and Goldman Sachs’ 10,000 Women initiative, is a first-of-its-kind facility dedicated to expanding access to capital for women entrepreneurs globally. The partnership with First Bank will help address the challenges Cameroon’s small and medium enterprises (SMEs) face accessing financing, with a focus on supporting women entrepreneurs.

In addition to financing, IFC will provide advisory services to First Bank to help it expand and better serve its SME portfolio, reinforce its risk management framework, and develop new financial products.

By addressing these barriers, the partnership aims to create a more inclusive and dynamic business environment in Cameroon.

"We are excited to work with IFC to support the growth of SMEs in Cameroon," said Célestin GUELA SIMO, CEO of Afriland First Bank. "This partnership will allow us to increase financing for small businesses, helping them thrive and play a greater role in the country’s economic development. SMEs are the backbone of our economy, and by helping them succeed, we are building a stronger, more diversified future."

"IFC is committed to supporting inclusive, private sector-led growth in Cameroon," said said Dahlia Khalifa, IFC Regional Director for Central Africa and Anglophone West Africa at IFC. "Through this partnership with First Bank, we will help close the financing gap for SMEs and empower entrepreneurs to innovate and create jobs. Together, we aim to support sustainable development and unlock opportunities for businesses to thrive."

Charlotte Keenan, Global Head of Goldman Sachs 10,000 Women, said, “WEOF is instrumental in levelling the playing field for women-led businesses. By partnering with IFC and Afriland First Bank Cameroon, we can unlock critical capital for WSMEs, enabling their expansion and contributing to Cameroon's economic growth. We are excited to extend our commitment to women entrepreneurs in Cameroon, helping to address the financing gap they face and build a more inclusive economy."

IFC’s country strategy for Cameroon is focused on improving digital infrastructure, supporting domestic value chains, particularly in the agricultural sector, and addressing infrastructure needs for an increasingly urban population, including renewable energy solutions. IFC is also supporting improvements to Cameroon’s business environment and the country’s transition to a more climate-resilient economy.

IFC aims to build further long-term partnerships across all sectors of the economy to scale up development impact and deliver tangible results for all stakeholders involved, including the government, corporations, smallholders, small businesses, entrepreneurs, farmers, women, and youth.