CEMAC REGION : What Afriland First Bank Plans for Congo, the Central African Republic, and Chad

(LVDE) – The Central African Banking Commission (COBAC) has recently granted branch-opening authorizations to Afriland First Bank, enabling the leading Cameroonian bank to accelerate its expansion into the Republic of the Congo, the Central African Republic (CAR), and Chad. This initiative reflects the bank’s commitment to energizing the financial sector within the CEMAC region.

Amid the ongoing transformation of Central Africa’s banking landscape, Afriland First Bank is positioning itself as a key player with the backing of COBAC, which has recently approved new branch licenses for several institutions, including Afriland First Bank — a pioneer in Cameroon’s financial market. This decision marks a significant milestone in the bank’s regional expansion across the CEMAC zone, which includes Cameroon, Congo, Gabon, Equatorial Guinea, the Central African Republic, and Chad.

According to reliable sources, Afriland First Bank intends to move swiftly into these new markets, with groundwork already laid for human resource deployment and capital mobilization. However, challenges remain — notably the need for on-site exploration and the establishment of strong partnerships with local stakeholders. This growth strategy aims to tap into high-potential markets, where the bank seeks not only to establish a footprint but also to contribute to industrial and economic development projects.

Afriland First Bank’s interest in Chad is not new. In May 2022, during a meeting at the Ministry of Finance in N’Djamena, Managing Director Célestin Guéla Simo highlighted the country’s significant economic potential. According to him, Chad’s strategic geographic location and young population make it a “good risk” for investment. The bank therefore sees numerous opportunities in this fast-evolving market.

At the same time, the Central African government recently signed an investment agreement with Mahasakthi Group, an Indian company, for an ambitious FCFA 800 billion project. Combining agro-industrial production and electricity generation, the initiative is being spearheaded by Afriland First Holding — an investment vehicle established to support economic development across the region. This partnership underscores Afriland’s commitment to actively participating in local development efforts.

The opening of new branches in CAR, Chad, and Congo also presents an opportunity for Afriland First Bank to reinforce its regional footprint following its earlier exit from Equatorial Guinea. The creation of these new structures will strengthen the sub-regional banking network in line with the CEMAC Single Banking License Regulation, which facilitates the establishment of branches by banks already licensed in one member state — eliminating burdensome administrative procedures.

According to Yvon Sana Bangui, Governor of the Bank of Central African States (BEAC), this reform aims to help the CEMAC region catch up with other sub-regions in terms of banking development. Currently, the UEMOA zone counts 135 licensed banks, compared to just 54 in CEMAC, of which 19 are in Cameroon. This disparity highlights the urgency of revitalizing the sector to foster a more competitive and inclusive banking environment.

Thus, Afriland First Bank’s regional expansion aligns with a vision of sustainable growth and innovation. By consolidating its presence in key markets, the bank aims not only to strengthen its portfolio but also to improve access to financial services in areas where such access remains limited. This dynamic strategy could profoundly transform the CEMAC banking landscape, opening new opportunities for millions of citizens across the region.

Tressy Chouente