Afriland First Bank, Cameroon’s largest lender founded by businessman Paul Fokam, and Savana Islamic Finance SA have signed an agreement to expand access to Islamic financing for small and medium-sized enterprises (SMEs), farmers and other businesses. The memorandum of understanding, signed in Yaounde on Oct. 7, 2026, is designed to help Savana clients secure funding for projects beyond the capacity of individual microfinance institutions.

Bridging the financing gap

The agreement was signed by Hamadou Mamoudou, Afriland First Bank’s director of Islamic finance, and Oumarou Mouctar, director general of Savana Islamic Finance. The partnership combines Afriland’s financial resources, investment capacity and banking expertise with Savana’s network and relationships with local communities to finance larger investment projects.

Mamoudou said the arrangement would expand financing opportunities for businesses and individuals, particularly entrepreneurs operating at the local level. The two institutions aim to support projects requiring substantial capital, including investments that microfinance institutions might struggle to fund independently.

Access to bigger investments

Savana’s clients are expected to gain access to financing worth billions of CFA francs through the partnership. The institutions plan to collaborate on evaluating investment proposals, arranging guarantees and sharing financial risks with project promoters, potentially opening funding channels for businesses seeking to expand their operations.

The agreement covers multiple economic sectors, including small businesses, livestock farming and other commercial activities. Financing structures will follow Islamic finance principles, which prohibit interest and emphasize asset-backed transactions, commercial activity and risk sharing. The partners say the arrangements will allow customers to pursue investments without compromising their financial and religious values.

Expanding Islamic banking reach

The partnership also creates opportunities for Afriland’s Islamic finance customers to conduct transactions through Savana’s network, potentially extending the geographical reach of the bank’s services. Savana, meanwhile, gains access to additional financial resources and banking infrastructure to support customers whose investment requirements exceed its standalone lending capacity.

Mouctar said the agreement would strengthen Savana’s ability to finance clients’ business activities. By combining a commercial bank’s resources with a microfinance institution’s local reach, the partnership seeks to connect entrepreneurs with funding for projects that might otherwise struggle to secure adequate capital.

A growing customer base

Afriland introduced Islamic finance services in Cameroon in 2015, while Savana,the first Islamic microfinance institution in Cameroon began operations in 2018. Savana Islamic finance business serves more than 25,000 clients, according to figures presented at the signing ceremony. The announcement also cited a 97.2% funded-project figure and more than 100,000 satisfied customers, although the scope of those figures was not specified.

Savana plans to open six additional branches across Cameroon, Mouctar said. The partnership is expected to support wider access to Islamic finance in markets including Kousseri and Maroua in the Far North Region, Ngaoundere in Adamawa and Bertoua in the East Region, extending services to businesses and communities beyond major commercial centers.

Afriland’s regional footprint

Founded in 1987 by businessman Paul Fokam, Afriland First Bank operates 87 branches, 218 ATMs and 386 electronic payment terminals in Cameroon, serving more than 705,000 customers, according to the figures provided. The lender has also expanded beyond its home market into several African countries, including the Democratic Republic of the Congo, Equatorial Guinea, Liberia, South Sudan, Uganda and Zambia.

The agreement comes as the two institutions seek to widen access to Shariah-compliant financing for businesses and individuals. Its impact will depend on how effectively the partners translate their combined resources and distribution networks into funding for viable projects, particularly smaller enterprises that face barriers to conventional bank financing.