The African Development Bank Group (AfDB) has approved a €25 million trade finance facility to help Cameroon’s Crédit Communautaire d’Afrique-Bank (CCA-Bank) expand its support for small and medium-sized enterprises (SMEs) and other local businesses.
The facility, approved at the AfDB Board meeting on December 1 in Abidjan, will be implemented as a Transaction Guarantee, providing risk coverage to eligible African banks for their trade finance operations.
Lamin Drammeh, Head of AfDB’s Trade Finance Division, said the funding will facilitate the import of equipment for Cameroon’s industrial, agro-industrial, and telecommunications sectors. “It will also allow the Bank to provide up to 100 percent guarantees to confirming banks, supporting letters of credit and other trade finance instruments issued by CCA-Bank for SMEs in Cameroon,” he explained.
Léandre Bassolé, Director General of the AfDB’s Central Africa region, said the move aligns with the bank’s strategy to boost private sector growth. “This initiative will strengthen CCA-Bank’s capacity to support SMEs, including those led by women and young entrepreneurs, drive economic growth, and create thousands of jobs,” he noted.
Marguerite Fonkwen Atanga, Managing Director of CCA-Bank, described the partnership as a landmark moment for the bank. “We are grateful to AfDB for this facility, which will enhance our ability to support SMEs, start-ups, and women-led businesses in Cameroon and across Africa,” she said.
The new facility is part of AfDB’s broader push to promote private sector development, financial inclusion, and sustainable growth in Central Africa.
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