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CÔTE D’IVOIRE : Afriland First Bank secures CFA 10 billion from the ECOWAS Bank for Investment and Development (EBID) to support businesses

(LVDE) – The ECOWAS Bank for Investment and Development (EBID) granted, on May 20, 2026 in Lomé, a CFA 10 billion credit line to Afriland First Bank Côte d’Ivoire. This facility aims to strengthen the financing capacity of the Ivorian subsidiary of the banking group controlled by Cameroonian businessman Paul Fokam Kammogne, targeting SMEs, mid-sized companies, and key sectors of the Ivorian economy, amid strong private sector demand for credit.

Tressy CHOUENTE Publié :23 mai 2026 | Mis à jour :23 mai 2026 2 minutes lues

Exchange of signed documents between George Agyekum Donkor, President of EBID, and Christian Kammogne Fogaing, Managing Director of Afriland First Bank Côte d’Ivoire.

In Lomé, Afriland First Bank Côte d’Ivoire continues to expand its footprint in the West African banking market through a new strategic financing operation. On May 20, 2026, the Ivorian subsidiary of the majority Cameroonian-owned banking group secured a CFA 10 billion credit line from EBID. The facility is intended to broaden access to financing for micro, small and medium-sized enterprises (MSMEs), as well as mid-tier companies operating in sectors considered critical for Ivorian economic growth.

Through this financing, Afriland First Bank seeks to consolidate its position in a segment that remains largely underserved in West Africa. The resources mobilized will be directed toward short- and medium-term financing needs in agro-industry, construction and public works, services, technology, health, and education. In an Ivorian economy driven by sustained growth and increasing private investment, access to credit remains a central issue for SMEs, which account for the bulk of the productive sector.

For EBID, this operation is part of a broader regional strategy aimed at strengthening industrialization and structural transformation across ECOWAS economies. The institution relies on local commercial banks as key intermediaries to channel financing to the private sector. “This partnership reflects EBID’s continued commitment to strengthening the private sector as a driver of sustainable growth, industrial development, and regional integration,” said its President George Agyekum Donkor following the signing.

For Afriland First Bank Côte d’Ivoire, this credit line represents a strategic lever in an increasingly competitive banking environment. Its Managing Director, Christian Kammogne Fogaing, believes it will enhance the bank’s support for SMEs, seen as the main engine of job creation and value addition. The bank aims to expand its role in productive financing, as many local businesses continue to face constraints in accessing credit.

This operation comes amid improving performance for the Ivorian subsidiary. As of end-2024, Afriland First Bank Côte d’Ivoire reported a total balance sheet of CFA 225.6 billion, up 27.5% year-on-year. Its loan portfolio grew by 33.7% to reach CFA 109.6 billion, reflecting a growth momentum driven by SME and mid-sized enterprise financing.

Beyond Côte d’Ivoire, this initiative highlights ongoing shifts in private sector financing in West Africa, where regional institutions and commercial banks are working to address a structural credit gap. In a region where SMEs account for more than 80% of businesses according to various estimates, financing remains a key lever for growth, employment, and economic transformation.