Afriland First Bank, bank group with predominantly Cameroonian-held shares, will soon buy into the capital of the African Export-Import Bank (Afreximbank), headquartered in Cairo, Egypt. The information was disclosed by Paul Kammogne Fokam, the founder of the 2^nd banking group in Central Africa, behind BGFI. “For this purpose, one of the African branches of the group will be appointed to act as representative”, specified Afreximbank in a press release.

Afriland First Bank will thus become the second banking institution of the CEMAC to join the shareholding of Afreximbank, after the Gabonese Bank of Development. The Cameroonian banking group will also join the Togolese, Ghanaian, Beninese and Nigerian branches of Ecobank, as well as the Nigerian Import-Export Bank or First Bank of Nigeria…

Afreximbank is a Pan African financial institution dedicated to financing and promoting trade within and outside Africa. Founded in October 1993 by African governments, private and African corporate investors, as well as non African investors; Afreximbank now claims about US$ 35 billion loan facilities granted to companies, of which about US$4.5 billion for 2014 only.

In order to multiply its interventions in African companies, the General Meeting of this Pan African financial institution approved, in September 2014, a capital increase of US$500 million.