1- ONCE UPON A TIME…
… the 1980s. In an adverse economic climate marked by a global commodity crisis and widespread bank failures in the Central Africa region, the thought of laying the foundations for healthy and sustainable growth took hold.
2- IT ALL STARTED WITH 4 FACTS:
– GDP calculations do not factor in the informal sector which makes up 60% of the economy and contributes significantly to wealth creation
– The banking system excludes the majority of the population living in rural areas
– The unpreparedness of investors for production
– The dominance of thrifts and loan sharks in financial system
3 – THE 4 FACTS LED TO 4 BELIEFS:
– Africa’s development depends solely on Africans
– Economic development requires the promotion of entrepreneurship and investment;
– Savings can be mobilised locally despite poverty
– The promotion of business growth is a necessity.
4 – THE 4 BELIEFS LED TO 4 OBJECTIVES :
– Bridging the formal and informal sectors
– Enabling the inclusion of rural communities in the banking system
– Enabling the emergence of a breed of African entrepreneurs
– Providing support to existing businesses.
Hence the birth of Afriland First Bank, an African bank dedicated to development through specific banking products adapted to the African context.
Increase of Equity: from XAF 20 billion to XAF 50 billion
Launch of Afriland First Bank Uganda. Our international network is expanding. We are now present in 9 African countries. We also have three representative offices in Beijing, Pointe Noire and Paris.
Creation of Afriland Bourse & Investissement, a subsidiary of Afriland First Bank, approved by the Financial Markets Supervisory Commission (COSUMAF), to carry out three main categories of activities: structured finance, stock market intermediation and financial engineering
Introduction of Cash Deposit Terminals. Afriland First Bank ensures the customer autonomy and safety for cash deposit transactions.
For the first time, Afriland First Bank’s total balance sheet has rose above the CFAF 1,000 billion mark. This robustness is necessary for a multi-dimensional support to the economy.
Launch of the digital transformation, with the development of the SARA digital banking application.
Capital increase: from CFAF 15.8 billion to CFAF 20 billion.
Launch of Islamic Finance: Afriland First Bank is the CEMAC pioneer of alternative, fair and socially responsible finance.
Afriland First Bank conducts CFAAF 200 billion bond issue at 5.6% and achieves a subscription rate of 120%. A test run, a master stroke.
Creation of Afriland First Group in Switzerland. The holding company meets the need for an identical common policy in all the banks in the network and defines a framework for a more proactive expansion policy.
CCEI Bank becomes Afriland First Bank. This new identity strengthens the institution’s rootedness in the African identity.
Opening of the Yaounde – Hippodrome headquarters building.
Launch of business in Yaounde.
Obtaining commercial bank license.
Registration of a limited liability company and filing of a share capital of CFAF 300 million. This is an important commitment in the midst of the severe international commodity crisis and the collapse of banks.
The philosophy of action of our banking units is summarised in four words: The philosophy of action of our banking units is summarised in four words: The Pact with success. The relationship between you and us is more than just an exchange of services. We give this relationship an emotional touch and understand it is a great responsibility. The handshake is our commitment to a win-win relationship with you. We are committed to providing you with the funds and expertise to turn your ideas into reality. You are doing us a favour by supporting us in our public service mission to drive the economy. Together, we are transforming our destinies.
The African Bank of the Millennium
We nurture the idea of a great and innovative African bank, spread across all continents, with a wealth of talent that contributes to the promotion of a proud Africa. We see ourselves as a bank that is rooted in African cultures and nourished by the values of warmth, selflessness, sharing and love.
OUR VALUES :
Work is the only source of wealth and personal and corporate growth.
We put the customer’s interest first
Courtesy, humility, knowledge and information are the sources of progress.
Equity ensures social cohesion and progress.
Common sense requires us to decide by consensus.
The most profitable minutes are those invested in learning.
Savings are the key to social and economic success.
The company is a combat unit and we are its generals and soldiers.