The African Export-Import Bank (Afreximbank), a pan-African financial institution focused on boosting intra-African trade, is steadily emerging as a major financial partner for Cameroon. Since 2024, the bank has injected more than CFA600 billion into the Cameroonian economy.
The figure was disclosed February 19 in Douala by Finance Minister Louis Paul Motazé during a presentation to investors of the government’s 2026 financing program. “I would also like to pay solemn tribute to our strategic partner Afreximbank. Since 2024, this major pan-African institution has mobilized cumulative facilities of more than CFA600 billion for the benefit of the Cameroonian state and private sector. In a demanding international environment, this steady support reflects strong and deliberate confidence in Cameroon’s potential and credit profile,” Motazé said.
Funding for a Planned Bitumen Plant
Available information shows that Afreximbank’s financial support has so far been largely directed toward the state. This includes the euro-to-CFA swap that enabled the government to raise CFA200 billion through a BEAC public securities issuance in June 2025; a guarantee that helped the state secure CFA159 billion in financing from local banks in 2025; and three loans totaling CFA96 billion to fund a solar photovoltaic electrification project covering 200 localities.
Since 2021, when Afreximbank opened its Central Africa regional office in Yaoundé, the institution has gradually expanded into Cameroon’s private sector. According to sources familiar with the matter, the bank financed nearly CFA2 billion in feasibility and preparatory studies for a CFA161 billion bitumen production plant in Kribi, promoted by All Bitumen PLC. The construction of the plant is also expected to benefit from Afreximbank financing.
Since late 2024, Afreximbank has signed a mandated lead arranger agreement with All Bitumen PLC. Under this mandate, the bank may both participate directly in the financing and mobilize other financial partners for the project, which is considered strategic for the development of Cameroon’s road infrastructure.
A Cameroonian at the Helm
A key player in financing intra-African trade, Afreximbank supports African countries’ industrialization policies, economic diversification and economic sovereignty initiatives. Since September 2025, the institution has been led by Cameroonian national George Elombi.
Cameroon maintains a dual relationship with Afreximbank. As a member state, it is a direct shareholder of the bank. The country is also represented through the National Social Insurance Fund (CNPS), a category B shareholder with an investment of CFA700 million. This status grants Cameroon’s pension fund a seat on the bank’s board of directors alongside other African financial investors.
Brice R. Mbodiam
