Proparco and Afriland First Bank Cameroon Sign €20mln Trade Finance Deal
Friday, 12 July 2024 06:08
Proparco has strengthened its support for Cameroon’s commercial bank, Afriland First Bank, by finalizing a second partnership agreement.
Announced on July 10, this €20 million ($21.6 million) guarantee agreement will enable Cameroon’s leading bank in terms of loans and deposits (as of the end of 2023) to enhance its international trade financing capabilities. Import companies that are clients of the bank will benefit from new financing sources for their operations.
"We are pleased to support Afriland Cameroon through this guarantee, which will facilitate the financing of essential imports in a context of inflation," said Emmanuel Haye, Head of Africa for Proparco's Financial Institutions and Inclusion Division.
In 2022, the two institutions concluded an initial €15 million guarantee agreement. This aimed to enable the Cameroonian commercial bank to issue trade finance instruments to support its clients' imports.
Live News
-
Gulf Transfers to Cameroon Rebound to CFA11.8 Billion but Remain Marginal
21:02
-
Douala Sets Aside CFA1.8 Billion to Compensate Residents for Wouri Riverside Road
20:59
-
Cameroon’s Banana Exports Jump 22% in March, Driven by PHP
20:56
-
EU Funds Coastal Surveillance to Curb Illegal Fishing in Cameroon
20:54
-
Ethiopia Rolls Out National EV Charging Network in E-Mobility Push
20:49
-
Angola Issues $185M in Bonds to Recapitalize State Airline Ahead of Privatization
20:40
-
Togo returns to regional market with 30 billion CFA francs bond offering on April 17
19:56
-
CEMAC Lending Rises 10.7% in 2025 as Bad Loans Edge Lower
19:23
-
Côte d'Ivoire's PETROCI raises $358M for Phase 2 of Baleine oil field
18:57
-
Togo, Benin move to formalize cross-border horticultural trade
14:32
EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...
BCEAO mandates all financial institutions to complete integration Move aims to ensure seamless, i...
Flutterwave secures Nigerian banking license to offer credit and savings License enables direct d...
This week, Africa’s health outlook is shaped by mounting supply chain risks tied to global tensions,...
M-PESA evolves into major financial platform with 35 million users Telecoms, fintechs expan...
Ethiopia rolling out nationwide EV charging network, EEU says First phase includes 40 stations, mainly in Addis Ababa Plan supports rapid EV growth,...
Angola issues $185 million bonds to recapitalize TAAG Move aims prepare airline for partial privatization, attract investors Restructuring...
PETROCI raises 200 billion CFA francs to fund Baleine project Financing supports Phase 2 expansion, prepares launch of Phase 3 Project boosts...
Senegal launches solar-plus-storage projects to boost grid stability Diass project adds first battery system, backed by KfW, AFD Linguère...
Sungbo Eredo, located in southwestern Nigeria near the Yoruba town of Ijebu-Ode, stands as one of the most remarkable yet overlooked monuments of...
“Dodji, l’Archet Vodoun” is a documentary about reconnecting with ancestral culture to understand one’s origins, following an initiation ceremony that...