Afriland First Bank founded by Cameroonian businessman Paul Fokam is set to expand its footprint in Central Africa after receiving approval from the Central African Banking Commission Cobac to open new branches. The move follows a series of recent authorizations under a single-license framework designed to simplify cross-border banking in the region.
Cobac, the regulator for the six-nation CEMAC zoneCameroon, Congo, Gabon, Equatorial Guinea, the Central African Republic CAR, and Chadgranted its first branch-opening authorizations under the framework adopted on Dec. 20, 2024. Alongside Afriland, Moroccan money-transfer firm Wafacash and Moroccos Bank of Africa BOA also received approvals.
Afriland targets Congo, CAR, Chad