Afriland First Bank wins a 9.8 billion CFA francs Afreximbank financing

The African Export-Import Bank (Afreximbank) signed on 8 July 2015 in Cairo Egypt, an ease of appropriation of a total amount of EUR 15 million, approximately 9.8 billion Cfa francs, in favour of the Ivorian subsidiary of the Cameroonian banking group Afriland First Bank.

These funds, stressed Afreximbank in a press release, will be used to "finance transactions carried out by SMEs in key sectors of growth" in Côte d'Ivoire.

According to Jean-Louis Ekra, president of Afreximbank, this funding falls within the Afreximbank commitment "to transform African economies through support for SMEs and the promotion of intra-African trade."

This concern of Afreximbank to place this banking group of mainly Cameroonian capital, comes just days after that of the China Development Bank.

Indeed, on the occasion of the visit by the Cameroonian Prime Minister in China from 17 to 21 June 2015, Afriland First Bank had concluded a financing agreement amounting to 26.2 billion Cfa francs with the Chinese Development Bank.

Second banking group of the CEMAC zone behind the Gabonese BGFI, Afriland First Bank is present in ten countries in Africa, and has representative offices in China and in France.