By Ndumbe Bell Joseph Gaston, in Douala
Afriland’s First Bank Central African Republic launch is official: the Pan-African banking group has announced its establishment in Bangui. The move accelerates the group’s regional expansion across Central Africa.
New Presence in Bangui Targets Trade and Inclusion
The group said its new presence in Bangui forms part of a strategy to get closer to customers, support trade between CEMAC countries, and deepen financial inclusion in markets with high growth potential.
With operations already running in Cameroon, Nigeria, Zambia, Equatorial Guinea, Guinea, Liberia, São Tomé and Príncipe, South Sudan, and the DRC, the Central African Republic now becomes Afriland’s 10th country of operation.
Afriland’s First Bank Central African Republic Focus Areas
In the Central African Republic, Afriland says it will focus on:
- SME financing and agribusiness
- Digital banking and mobile money services
- Trade and cross-border payments to facilitate commerce between CAR, Cameroon, and Chad
Bank officials noted that the move also supports CEMAC’s integration agenda and will create jobs locally. Licensing and setup procedures with CAR authorities are already in progress.
Nafack: Regional Expansion a Key Pillar
Group Chairman Alphonse Nafack has made regional expansion a key pillar of strategy. As a result, Afriland now positions itself as one of the most geographically diversified African-owned banks in the sub-region.
