Afriland First Bank Overview and Competitor Analysis

Afriland First Bank is a leading financial institution in Africa, with a strong presence in several countries.

Founded in 1999, the bank has grown rapidly over the years, with a network of branches and subsidiaries across the continent.

Afriland First Bank offers a wide range of financial services, including retail banking, corporate banking, and investment banking.

The bank's mission is to provide innovative and customer-centric financial solutions to individuals, businesses, and institutions in Africa.

Afriland First Bank has a rich history that dates back to 1986. It was registered as a limited liability company with a capital of 300 million Franc CFA.

The bank received its banking license in 1987, and its activities officially began in 1988 in Yaoundé. Paul Kammogne Fokam, a Cameroonian, is the founder and leader of the bank.

The bank's objective was to showcase a positive image of Africa, which was struggling to recover from the economic crisis of the 1980s.

Afriland First Bank was founded in 1986 as a limited liability company with a capital of 300 million Franc CFA, before receiving its banking license in 1987.

Paul Kammogne Fokam, a Cameroonian, led the establishment of the bank with the goal of showcasing a positive image of the African continent after it suffered greatly from the 1980s crisis.

The bank's activities began in 1988 in Yaoundé, with the aim of helping the continent recover and grow.

Afriland First Bank is now a major financial services provider in Cameroon, with client deposits estimated at nearly $951 million in December 2012.

By 2010, the bank's combined assets, including those of its subsidiaries worldwide, were valued at $2.3 billion.

In 2017, Paul Fokam announced plans to open a branch in Burkina Faso, marking the bank's expansion into new markets.

Afriland First Bank aims to leverage the license held by its Cameroonian subsidiary to establish a presence in the Democratic Republic of Congo, the Central African Republic, and Chad by 2022.

The evolution of capital in this bank is a remarkable story. The company was founded in 1986 with an initial capital of 300 million Franc CFA.

Over time, this capital grew significantly, reaching 15.8 billion Franc CFA before increasing further to 20 billion Franc CFA in 2017.

It's impressive to see how the bank's capital continued to grow, eventually reaching 50 billion Franc CFA by 2022.

Afriland First Bank has a strong presence in the West and Central African region, with operations in over 20 countries. The bank's regional operations are designed to provide personalized banking services to its customers.

The bank's extensive network of branches and ATMs allows customers to access their accounts and conduct financial transactions easily.

Afriland First Bank's regional operations are supported by a team of experienced professionals who are committed to delivering exceptional customer service.

Orca is setting up a distribution center in Mfandena, Cameroon, a 20,000 m² facility valued at CFA6 billion.

This center will have three floors with 85,000 trade references, making it a significant investment in the country.

The facility is located opposite the Omnisports stadium in Yaoundé, which will host the next African Cup of Nations (AFCON) in 2019.

Orca's CEO, Hayssam El Jammal, believes Cameroon has a better chance of succeeding due to its large cities, including Bamenda, Kribi, Douala, and Yaoundé.

This distribution center will not only provide equipment but also create jobs and wealth, according to Alphonse Nafack, Managing Director of Afriland First Bank.

Cameroonian trade minister Luc Magloire Mbarga Atangana attended the inauguration and sees the center as proof of the country's attractiveness for investment.

Afriland First Bank has a significant presence in several countries across the region. The bank maintains subsidiaries in various countries, including Equatorial Guinea, São Tomé and Príncipe, Democratic Republic of the Congo, Liberia, South Sudan, Guinea, and Ivory Coast.

One of the notable subsidiaries is Afriland First Bank Guinea, which operates in the country. Afriland First Bank South Sudan is another key subsidiary, serving the South Sudanese market.

The bank also has a presence in Zambia, although it's worth noting that its subsidiary, Intermarket Bank, has an 80 percent shareholding. This is a significant stake, indicating the bank's commitment to the Zambian market.

Here's a list of the countries where Afriland First Bank has subsidiaries:

Afriland First Bank has a significant presence in various countries, with a range of operations beyond its core markets.

The bank has representative offices in several key locations, including Paris, France, where you can find Afriland First Bank Paris.

Afriland First Bank also has a presence in Beijing, China, through its representative office Afriland First Bank China.

Another notable location is Brazzaville, Republic of the Congo, which is home to Afriland First Bank Congo Brazzaville.

Here's a list of the countries where Afriland First Bank has representative offices:

In the Democratic Republic of Congo, American NGOs have accused Dan Gertler of profiting from sanctions to make money in his business dealings, particularly with Gecamines.

Dan Gertler, a controversial Israeli businessman close to former President Joseph Kabila, allegedly used a series of shell companies to open accounts with Afriland FirstBank between 2018 and 2020. He deposited millions of dollars into these accounts and then transferred funds within the country and internationally.

Afriland has filed a lawsuit in Paris against PLAAF and Global Witness. The bank's lawyer, Éric Moutet, was actually convicted of defamation in Paris in June 2022 for claiming that the whistleblowers were "forgers."

Afriland First Bank's main competitors in the Cameroonian banking industry are Ecobank, United Bank for Africa (UBA), and GT Bank.

Ecobank has a strong presence in the region with over 300 branches across 32 African countries.

United Bank for Africa (UBA) has a significant market share in Cameroon, with over 10 branches and a wide range of financial products.

GT Bank's unique selling point is its mobile banking platform, which allows customers to perform transactions and check their account balances remotely.

Afriland First Bank's digital banking platform, however, has seen significant growth in recent years, with a 30% increase in mobile banking transactions.