IFC and Afriland First Bank Partner to Boost SME and Women-Led Business in Cameroon

IFC and Afriland First Bank Launch $60M Partnership to Accelerate SME Financing and Economic Inclusion in Cameroon.

In a significant move to stimulate economic growth and enhance financial inclusion in Cameroon, the International Finance Corporation (IFC) and Afriland First Bank Cameroon (First Bank) have announced a landmark partnership that will unlock $60 million in financing for small and medium-sized enterprises (SMEs), with a particular focus on supporting women-led businesses.

This strategic alliance is designed to address one of the most pressing economic challenges in Cameroon: limited access to finance for SMEs, which represent more than 90% of all businesses in the country and play a critical role in job creation, innovation, and community development.

A Multi-Faceted Financial Boost

Under the terms of the agreement, IFC will provide a loan of up to $60 million equivalent in euros to Afriland First Bank. This includes $20 million directly from IFC’s own account and an additional $40 million mobilized from other international lenders. The investment is structured to increase First Bank’s lending capacity and outreach to underserved SMEs across the country.

In a notable effort to promote gender-inclusive economic development, the Women Entrepreneurs Opportunity Facility (WEOF) is contributing performance-based incentives of up to 0.07% of the project’s total cost—approximately $42,000—to encourage lending to women-owned and women-led enterprises. These incentives are expected to create more equitable access to financing and promote the growth of female entrepreneurship in Cameroon’s increasingly competitive market landscape.

Advisory Services for Sustainable Impact

Beyond financing, IFC will offer comprehensive advisory services to Afriland First Bank. These services will focus on enhancing the bank’s risk management frameworks, expanding and refining its SME portfolio, and developing tailored financial products that meet the evolving needs of small businesses and entrepreneurs.

This technical assistance will support First Bank’s broader strategic objective of becoming a leading institution in SME financing in Central Africa. It will also ensure that the bank is well-positioned to provide scalable and sustainable support to a new generation of businesses and innovators.

Catalyzing Economic Diversification and Resilience

The partnership is part of IFC’s broader country strategy for Cameroon, which aims to foster inclusive, private sector-led growth by improving access to capital, strengthening domestic value chains—especially in agriculture—and advancing renewable energy and digital infrastructure projects. With Cameroon facing urbanization pressures and increasing climate-related risks, the initiative aligns with national development goals and supports the transition toward a climate-resilient economy.

“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,” said Célestin GUELA SIMO, CEO of Afriland First Bank. “SMEs are the backbone of our economy, and by helping them succeed, we are building a stronger, more diversified future.”

Dahlia Khalifa, IFC’s Regional Director for Central Africa and Anglophone West Africa, emphasized IFC’s commitment to long-term development impact: “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.”

A Vision for Inclusive Growth

IFC’s partnership with Afriland First Bank is expected to reach thousands of SMEs, creating ripple effects across industries and communities. By empowering women entrepreneurs and unlocking financing for businesses previously excluded from formal financial services, the initiative seeks to foster a more inclusive and vibrant economy.

Looking ahead, IFC plans to build further long-term collaborations across sectors—working alongside government, corporations, smallholders, and civil society—to deliver tangible development outcomes. This includes increasing access to finance, advancing digital transformation, and promoting inclusive green growth for the benefit of all Cameroonians.

With this partnership, IFC and Afriland First Bank are setting a precedent for how strategic investments and collaborative efforts can shape the future of economic development in Cameroon and across the region.