Yaounde: AFG Bank Cameroon partners PROLOG to boost local dev't.

The Deputy Managing Director of AFG Bank Cameroon in charge of Operations, Aminatou Njikam, and the National Coordinator of PROLOG, Jackson Ngwa Edielle, signed the agreement for their respective institutions. 

PROLOG, it should be said, is a World Bank-funded scheme under the Ministry of Decentralisation and Local Development. It seeks to ease access to funding and boost community infrastructure and services that improve the living conditions of the population based on established bench marks.

Snippet about the deal 

As per the agreement, AFG Bank Cameroon will provide PROLOG with its services including digital solutions, infrastructure, windows and advice.

This, officials said, is with a view to carrying out investment sub-projects on the basis of subsidies dedicated respectively to supporting community and inter-communal infrastructure, regional councils, as well as the performance-based subsidy provided to Regional and Local Authorities, RLAs. 

The partnership, it was added, will make it easier for each beneficiary RLAs to access project subsidies up to the amount indicated in the agreement between it and PROLOG. 

The agreement, it was further detailed, will also enable AFG Bank Cameroun to better optimise the management of resources released to improve community infrastructure, basic services and local governance. 

It was also disclosed that as per the deal, AFG Bank Cameroun will ensure that the activities financed on the basis of the project grant are in synergy with those previously approved by the PROLOG management unit and referred to in the financing agreements signed with the beneficiary Regional and Local Authorities in order to avoid double financing.

PROLOG boss says deal to help improve monitoring 

Speaking after signing the agreement, the National Coordinator of PROLOG, Jackson Ngwa Edielle, said it is a move towards the right direction in improving the quality of fund monitoring. 

Ngwa explained that for the securities that the companies that are going to carry out the RLAs projects must have, it is important that joint accounts be opened to house the resources dedicated to financing these infrastructures. 

“To date, we have signed agreements with six regional councils and 54 councils. AFG Bank Cameroon has agreed to support PROLOG in the process of supervising the joint accounts we open to finance projects proposed by the RLAs and selected by us,” Ngwa said.

He said AFG Bank Cameroon is there to help PROLOG “with the management and administration of the funds”.

“With this bank's expertise, we will be able to improve the quality of monitoring of fund movements, and ensure that the funds are actually used to finance the activities for which they are earmarked,” Ngwa said. 

AFG Bank Cameroon to offer PROLOG digital solutions

On her part, the Deputy Managing Director of AFG Bank Cameroon in charge of Operations, Aminatou Njikam, said the agreement is in line with the Bank’s vision as one of the leading banking partners of the government in financing the economy and public policies nationally. 

“The interest in the PROLOG project stems from the fact that it is part of AFG Bank's new vision. This vision covers issues such as capacity building and managerial development, as well as financial support for decentralised local authorities. AFG Bank already supports projects on the same scale as PROLOG. We support the entire value chain through structured financing of the programmes produced to facilitate access to finance for all players. We bring to PROLOG our digital solutions, infrastructures, windows and advice to facilitate the implementation of the projects of the RLAs,” Aminatou said. 

About AFG Bank Cameroun

The financial institution operates 23 branches in all ten regions of the country with steady growth since 2022. 

The Bank ended the 2024 fiscal year with a balance sheet total of 806 billion FCFA and net banking income of 17.227 billion FCFA. 

As at December 31, 2023, the Bank had total assets of 1,091 billion FCFA and gross net income of 23 billion FCFA. AFG Bank Cameroun ranks third in the Cameroonian banking market in terms of customer resources and loans granted.

This article was first published in The Guardian Post Edition No:3475 of Monday June 16, 2025