AfricInvest to buy into CCA capital

The investment fund AfricInvest will take part in the capital increase of the Cameroonian microfinance structure Crédit Communautaire d’Afrique (CCA), we learned from media sources.

The operation confirmed by internal sources at CCA, and whose details have not yet been specified, should enable this microfinance establishment to change status to become a bank.

After the Camccul network (which enabled the creation of Union Bank of Cameroon), whose volume of assets is equal to that of the Cameroonian subsidiary of BGFI Bank, Crédit Communautaire d’Afrique has become, over the past few years, one of the most important microfinance institutions in Cameroon.

In 2014, this establishment claimed to have 359,000 clients, more than double the customer base of the local subsidiary of Société Générale.

Covering the Maghreb and sub-Saharan Africa, AfricInvest has among its shareholders FMO, the Dutch development bank; the Belgian development agency; Proparco, the subsidiary of AFD dedicated to the private sector; the European bank of investments, etc.

Since its creation in 1994 in Tunisia, this Pan African capital investor managing a global envelope of more than FCfa 550 billion (USD 1 billion) spread over 14 funds, has already bought shares in 125 companies in 24 African countries.