Table of Contents
Afriland First Bank, the financial services group founded by Cameroonian businessman Paul Fokam, has crossed a milestone that few lenders in Central Africa have reached. The Yaounde-based bank reported total assets of CFA2.032 trillion ($3.6 billion) at the end of 2024, pushing it past the CFA2 trillion mark for the first time and reflecting its position in the region.
The asset base rose 9.3 percent from a year earlier, according to the bank’s latest figures. Earnings moved in the same direction. Net income climbed to CFA28.59 billion ($50.75 million), while net banking income increased to CFA126.22 billion ($224.07 million), reflecting stronger activity across its core businesses.
Much of that growth came from customers. Deposits increased 10.1 percent to CFA1,562.35 billion, or roughly $2.77 billion, pointing to rising confidence among households and companies at a time when many economies in the region are facing tighter conditions. Lending, by contrast, edged down slightly. Outstanding loans slipped 1.7 percent to CFA1,220.03 billion ($2.16 billion), a move the bank says reflects a cautious approach to credit and closer attention to risk.
Afriland scales African banking footprint
Founded in 1987 by Fokam, Afriland First Bank has expanded steadily beyond Cameroon. It now operates in nine African countries, including the Democratic Republic of Congo, Equatorial Guinea, Liberia, South Sudan and Uganda. The group runs 87 branches, 218 ATMs and 386 electronic payment terminals, serving more than 705,000 customers across its network.
Digital banking has become a central part of that expansion. Afriland has invested heavily in electronic channels to make everyday services easier to access, especially in markets where branch coverage remains limited. Fokam has often argued that locally owned banks have a responsibility to support economic growth at home. In 2023 alone, the bank said it channeled about $2.7 billion into the local economy through lending and other financing activities.
Afriland First Bank is preparing for a phase of expansion. In October 2025, it received approval from the Central African Banking Commission, or Cobac, to open branches under the CEMAC single-license regime. The clearance allows Cameroon’s largest lender to enter Congo, the Central African Republic and Chad, markets it has targeted for years and where it finances industrial projects. Afriland has signaled interest in Chad since 2022.
Growth spans banking, SMEs, agriculture
The move marks a return to expansion within Central Africa after the bank’s exit from Equatorial Guinea several years ago. Under the single-license system, the new branches can later be upgraded into full subsidiaries, helping to deepen cross-border banking ties within the region.
Beyond retail and corporate banking, Afriland has stepped up its role in development finance. In April, it partnered with the International Finance Corporation to expand lending to small and medium-sized enterprises in Cameroon, with up to $60 million earmarked for businesses that have struggled to secure credit, including women-led firms.
The bank has also been involved in large regional projects, including a $1.2 billion agreement between the Central African Republic and India’s Mahasakthi Group to develop 30,000 hectares of sugarcane and cassava, a deal expected to boost agriculture and energy production.
