(Business in Cameroon) – The International Finance Corporation (IFC), part of the World Bank Group, signed a CFA36.4 billion financing deal on April 2 in Yaoundé to support small and medium-sized enterprises (SMEs) owned or run by women. The goal is to help these businesses grow, overcome financing barriers, and generate jobs across Cameroon.
Roughly CFA12 billion will come from IFC’s own funds, while the remaining CFA24 billion will be sourced from other development finance partners. The money will be issued as senior unsecured loans with repayment terms of up to five years and a one-year grace period.
The partnership will also focus on supporting businesses owned by women, who often face greater challenges in securing financing. To be eligible, companies must meet specific gender inclusion requirements. For instance, a business must either be at least 51% owned and controlled by one or more women or have female leadership that actively influences the company’s decisions and operations.
A second path to eligibility includes businesses that are at least 20% owned by one or more women, with at least one woman in a top executive role such as CEO, COO, or President. If the business has a board or a formal governance structure, women must make up at least 30% of that leadership group.
The program is also open to companies with annual revenues of CFA9 billion or less—three times the local threshold that defines an SME in Cameroon, which stands at CFA3 billion.
“”Through this partnership with First Bank, we will help close the financing gap for SMEs and empower entrepreneurs to innovate and create jobs. Together, we aim to support sustainable development and unlock opportunities for businesses to thrive,” said Dahlia Khalifa, IFC’s Regional Director for Central Africa and Anglophone West Africa.
IFC currently holds an investment portfolio of about CFA164 billion in Cameroon. The institution now plans to nearly double that to around CFA300 billion over the next three years.
Ludovic Amara
