In a landmark move to strengthen Cameroon’s small business sector, the International Finance Corporation (IFC) and Afriland First Bank Cameroon (First Bank) have announced a $60 million financing partnership aimed at expanding access to capital for small and medium-sized enterprises (SMEs). This strategic initiative is designed to help businesses grow, enter new markets, and drive job creation in one of Central Africa’s most dynamic economies.
The funding package includes $20 million from IFC’s own account and an additional $40 million mobilized from other lenders, signaling strong confidence in the growth potential of Cameroon’s private sector. This financing will support First Bank’s lending activities to thousands of smaller businesses, with a special focus on underserved segments, including women-led enterprises.
In a notable addition, the partnership includes a performance-based incentive from the Women Entrepreneurs Opportunity Facility (WEOF) — up to 0.07% of the outstanding IFC senior loan — to promote lending to women-owned or led businesses. WEOF is a joint initiative by IFC, through its Banking on Women Program, and the Goldman Sachs 10,000 Women initiative, aimed at closing the gender finance gap worldwide.
The initiative will be further strengthened by IFC’s advisory support to First Bank. This includes enhancing its SME product offerings, building a more robust risk management framework, and developing new financial solutions tailored to local business needs.
“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.”
IFC views this investment as part of its broader strategy in Cameroon to drive inclusive private sector-led growth. According to Dahlia Khalifa, IFC Regional Director for Central Africa and Anglophone West Africa, “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.”
For women entrepreneurs, the WEOF facility brings an added layer of impact. Charlotte Keenan, Global Head of Goldman Sachs 10,000 Women, emphasized the importance of gender inclusion: “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.”
IFC’s country focus for Cameroon includes improving digital infrastructure, advancing local value chains (particularly in agriculture), and boosting climate-resilient urban development. This new partnership aligns with that vision, supporting both economic resilience and social inclusion.
With this $60 million deal, IFC and Afriland First Bank are not just investing in businesses—they’re investing in the future of Cameroon’s economy.
