Atlantic Financial Group gets 13B FCFA lifeline to support sub-regional growth.

The deal was concluded in Yaounde, September 14. This was on the sidelines of activities marking Islamic Development Bank Group, IsDB Day. According to the lenders, the signing brings to an end a long period of negotiations between the recipient, the ICD, the government of Cameroon and other stakeholders.

“ICD is pleased to announce the signing of a Final Term Sheet with AFG Bank Cameroon for a 20 million Euros Shariah-compliant Line of Financing facility, signed on June 18, 2026, on the sidelines of the IsDB Group Annual Meetings in Baku,” an official of ICD said. 

They clarified that the facility will support SME growth across Cameroon, Gabon, and Chad, with a focus on key sectors including agribusiness, transportation, energy, and healthcare. 

In addition, it is expected to contribute to the creation of more than 2,200 jobs, including significant opportunities for women.

The lenders stated that the milestone marks the first collaboration between ICD and AFG Bank Cameroon and opens the door for broader strategic engagement with the Atlantic Financial Group network, reaffirming ICD’s commitment to advancing inclusive private sector development through Islamic finance.

AFG Bank Cameroon, formerly known as Atlantic Bank Cameroon, until March 2025, is a subsidiary of Atlantic Financial Group. The bank was officially established on September 19, 2008, but started doing business in April 2009, marking a significant milestone in AFG's regional growth.

Through its strategic presence and financial solutions, the bank plays a significant role in supporting local economic development, facilitating business growth, enhancing financial inclusion, and contributing to job creation across the regions it serves.

The strategic transition (from Banque Atlantique Cameroon to AFG Bank Cameroon) aligns with the global vision of its parent company, the Ivorian financial conglomerate Atlantic Group, founded by the Chairman Bernard Koné Dossongui. 

By unifying its subsidiaries under the single, strong AFG (Atlantic Financial Group) brand, the group is building an integrated financial ecosystem across the continent.

The Islamic Corporation for the Development of the Private Sector, ICD, is a multilateral development finance institution and member of the Islamic Development Bank, IsDB Group. 

Established in November 1999 and headquartered in Jeddah, Saudi Arabia, ICD supports economic development in its 56 member countries by providing financial assistance to private sector projects in accordance with Shariah principles. 

With an authorized capital of 4.0 billion United States Dollars, USD, and more than 25 years of operational excellence, ICD complements IsDB's activities by promoting capital market development, best management practices, and enhancing the role of market economies. 

The final signing for this loan was made on the sidelines of activities to mark Islamic Development Day in Cameroon on 14 September. Where Prime Minister, Head of Government, Dr Chief Joseph Dion Ngute, appreciated the effort made by the Bank Group to reduce processing time for loan applications, issuance of no objection notices, and accelerate loans and other financial disbursements.

Efforts which the PM said strengthen communication with national teams and step up supervisory missions put in place by the government.

This article was first published in The Guardian Post Edition No:3913 of Friday September 18, 2026