Afriland First Bank and Visa signed a three-year strategic agreement on 11 March 2026 in Yaoundé aimed at accelerating digital payments and expanding financial inclusion in Cameroon.
The agreement, described as a “Growth Agreement”, was signed during an official ceremony at the Maison de la First Bank and represents the first standalone partnership of its kind concluded by Visa with a local bank in Cameroon. The initiative seeks to support the development of modern, secure and accessible payment solutions while strengthening the adoption of electronic payments in the country’s financial ecosystem.
According to the institutions, the partnership will combine Visa’s global digital payments infrastructure with Afriland First Bank’s local banking network to promote wider access to financial services for households, businesses and public institutions.
Deputy Director General of Afriland First Bank, Hervé Ayissi, said the partnership forms part of efforts to address structural challenges in Cameroon’s financial system, particularly the heavy reliance on cash transactions. He noted that the strict banking penetration rate in Cameroon stands at about 20 per cent. When microfinance institutions and mobile money services are included, the broader financial inclusion rate is estimated between 35 and 45 per cent.
“Many of our citizens, young entrepreneurs, companies and artisans remain outside the formal financial system. This agreement aims to support our contribution as a leading bank in bringing more people into the banking system,” Ayissi said.
According to him, cash continues to dominate everyday transactions across markets, retail trade, transport and local services. Based on figures cited during the ceremony, experts estimate that between 90 and 95 per cent of daily payments in Cameroon are carried out in cash, while cash still represents more than 80 per cent of the total value of transactions.
The situation is particularly visible in the informal sector, which accounts for roughly 70 per cent of the country’s gross domestic product and where electronic payments remain limited.
Partnership to support financial inclusion and digitalisation
Through the agreement, Visa will provide technical and financial support to assist Afriland First Bank in expanding digital payment solutions and encouraging greater use of electronic banking services. Ayissi said the partnership would help lower barriers to banking access for people outside the financial system and support the development of digital solutions accessible across the country.
“This convention will make it possible to reduce the cost of access to banking services and provide digital solutions that allow individuals wherever they are in the country to operate within the banking environment,” he said.
He added that the collaboration also aims to support the gradual reduction of cash dependency while improving transaction security and financial traceability in the economy.
Cameroon: A Priority Market for Visa’s Digital Payments Expansion
Speaking at the event, the Regional Director for Central Africa at Visa, Inès Amani, said the partnership reflects a shared ambition to modernise the payments ecosystem in Cameroon and across the region. She said digital technologies have significantly simplified financial services in recent years, allowing payments, transfers and account operations to be completed electronically rather than through physical bank visits. She added that Cameroon represents a priority market for Visa in Central Africa due to its entrepreneurial activity and the growing adoption of digital financial services.
“For Visa, working with Afriland First Bank is strategic because it allows us to accelerate the digital payments agenda and provide secure and simple solutions to consumers, businesses and public institutions,” she said.
The partnership also supports Afriland First Bank’s digital transformation strategy under its Horizon 2030 plan. Chief Executive Officer of Afriland First Bank, Célestin Guela Simo, in a statement issued by the bank said the agreement represents a key step in the bank’s efforts to modernise financial services and support national economic development.
“This strategic partnership with Visa constitutes an important milestone in the implementation of our digital transformation strategy. It aligns with our ambition to build a more inclusive, more digitalised and more competitive financial system,” he said.
Mercy Fosoh
