(Business in Cameroon) – On January 2, 2025, the International Finance Corporation (IFC), the private sector arm of the World Bank, approved a $60 million loan (CFA37.5 billion) for Afriland First Bank, Cameroon’s leading bank. The funding aims to boost long-term loans for local small and medium-sized enterprises (SMEs). According to Cameroonian authorities, SMEs make up over 99% of the national economy.
Under the loan agreement, the IFC will provide $20 million directly, while the remaining $40 million will come from other lending partners. The loan has a five-year term, including a one-year grace period. A shared guarantee of up to $3 million, provided by the International Development Association (IDA), supports the loan. At least 25% of the financing will go to women-owned businesses.
World Bank studies and government data show that women run 38% of businesses in Cameroon, lead 23% of manufacturing SMEs, and represent 51% of the population. Despite their entrepreneurial energy, women in Cameroon still face significant challenges in accessing financing. This loan is expected to help close that gap and support their business growth.
