2024-07-09 20:44:57
Cameroonian banking giant Afriland First Bank has just taken a new step in its support for international trade. The bank has signed a major agreement with Proparco to renew and increase its trade finance guarantee line. This exclusive announcement, relayed by 237online.com, promises to revolutionize trade in Cameroon.
A strengthened partnership to boost the Cameroonian economy
The signing ceremony, which took place at the premises of Afriland First Bank, marked a turning point in the relations between the two financial institutions. Mr. Youssoufa Bouba, Deputy General Manager of Afriland First Bank, did not hide his enthusiasm for this new chapter of collaboration.
“This partnership is part of a dynamic of multiplication and expansion of competitions and facilities for Cameroonian companies, particularly SMEs, in their international trade activities”did he declare.
A revised guarantee line upwards: from 15 to 20 million euros
One of the highlights of this agreement is the significant increase in the guarantee line, which goes from 15 to 20 million euros. This 33% increase demonstrates the mutual trust between Afriland First Bank and Proparco, but also their shared desire to support the Cameroonian economy.
Cameroonian SMEs, big winners of this agreement
This new partnership aims primarily to support small and medium-sized enterprises (SMEs) in Cameroon in their international trade activities. By facilitating access to financing and guarantees, Afriland First Bank and Proparco hope to stimulate the diversification of the Cameroonian economic fabric.
Afriland First Bank: a major player in the Cameroonian banking sector
Mr. Bouba stressed the importance for Afriland First Bank to partner with credible and benchmark partners such as Proparco. This collaboration will enable the bank to offer even more comprehensive solutions to its clients wishing to establish themselves on the international scene.
Towards a promising future for international trade in Cameroon
The signing of this agreement marks the beginning of a new era for international trade in Cameroon. With the reinforced support of Afriland First Bank and Proparco, Cameroonian companies are now better equipped to conquer international markets and contribute to the country’s economic growth.