Afriland First Financial institution, the monetary providers group based by Cameroonian businessman Paul Fokam, has crossed a milestone that few lenders in Central Africa have reached. The Yaounde-based financial institution reported complete belongings of CFA2.032 trillion ($3.6 billion) on the finish of 2024, pushing it previous the CFA2 trillion mark for the primary time and reflecting its place within the area.
The asset base rose 9.3 p.c from a yr earlier, in keeping with the financial institution’s newest figures. Earnings moved in the identical course. Internet earnings climbed to CFA28.59 billion ($50.75 million), whereas internet banking earnings elevated to CFA126.22 billion ($224.07 million), reflecting stronger exercise throughout its core companies.
A lot of that progress got here from prospects. Deposits elevated 10.1 p.c to CFA1,562.35 billion, or roughly $2.77 billion, pointing to rising confidence amongst households and firms at a time when many economies within the area are going through tighter circumstances. Lending, against this, edged down barely. Excellent loans slipped 1.7 p.c to CFA1,220.03 billion ($2.16 billion), a transfer the financial institution says displays a cautious method to credit score and nearer consideration to danger.
Afriland scales African banking footprint
Based in 1987 by Fokam, Afriland First Financial institution has expanded steadily past Cameroon. It now operates in 9 African international locations, together with the Democratic Republic of Congo, Equatorial Guinea, Liberia, South Sudan and Uganda. The group runs 87 branches, 218 ATMs and 386 digital cost terminals, serving greater than 705,000 prospects throughout its community.
Digital banking has change into a central a part of that growth. Afriland has invested closely in digital channels to make on a regular basis providers simpler to entry, particularly in markets the place department protection stays restricted. Fokam has usually argued that domestically owned banks have a accountability to assist financial progress at residence. In 2023 alone, the financial institution stated it channeled about $2.7 billion into the native financial system by way of lending and different financing actions.
Afriland First Financial institution is getting ready for a section of growth. In October 2025, it acquired approval from the Central African Banking Fee, or Cobac, to open branches below the CEMAC single-license regime. The clearance permits Cameroon’s largest lender to enter Congo, the Central African Republic and Chad, markets it has focused for years and the place it funds industrial tasks. Afriland has signaled curiosity in Chad since 2022.
Development spans banking, SMEs, agriculture
The transfer marks a return to growth inside Central Africa after the financial institution’s exit from Equatorial Guinea a number of years in the past. Underneath the single-license system, the brand new branches can later be upgraded into full subsidiaries, serving to to deepen cross-border banking ties inside the area.
Past retail and company banking, Afriland has stepped up its position in improvement finance. In April, it partnered with the Worldwide Finance Company to develop lending to small and medium-sized enterprises in Cameroon, with as much as $60 million earmarked for companies which have struggled to safe credit score, together with women-led companies.
The financial institution has additionally been concerned in massive regional tasks, together with a $1.2 billion settlement between the Central African Republic and India’s Mahasakthi Group to develop 30,000 hectares of sugarcane and cassava, a deal anticipated to spice up agriculture and power manufacturing.
