Afriland First Bank and African Guarantee Fund team up to support Cameroonian SMEs

The African Guarantee Fund has granted a portfolio guarantee line of CFAF 5 billion to Afriland First Bank to support SMEs, women entrepreneurship and the green economy in Cameroon. The agreement was signed at the African Guarantee Fund’s headquarters in Nairobi by Alphonse Nafack, Managing Director of Afriland First Bank and Jules Ngankam, Managing Director of the African Guarantee Fund Group. The agreement will enable Afriland First Bank to further increase its commitment to the SMEs/SMIs and to promote the development of green entrepreneurship and women’s leadership in the business environment. At the signing ceremony, Mr. Jules Ngankam, Managing Director of the AGF Group, said: “Banks across the continent are in urgent need of risk hedging instruments to support their SME lending activities. This agreement confirms our commitment to Cameroonian SMEs alongside Afriland First Bank, the leading institution in the Cameroonian banking sector. For his part, Mr. Alphonse Nafack, Managing Director of Afriland First Bank said “This partnership is in line with Afriland First Bank’s DNA and enshrines the strong commitment that has guided our daily action since our creation, namely to support the entrepreneur, promote SMEs, and support businesses in their development programmes.