Afriland First Bank claims control of greater share of leasing market


Afriland First Bank known to have a 48.5% share of the leasing market, last February 21, 2023 in Douala, the Cameroonian economic capital, signed a partnership agreement with the Grouping of Land Carriers of Cameroon (G.T.T.C) aimed at facilitating the acquisition of vehicles.

It is a leasing mechanism that consists of financing the acquisition of the production tools of companies. It is the use of this tools that makes it possible to pay the lessor by draft at an interest rate and agreed deadlines. Concretely, the bank will apply affordable interest rates and longer repayment terms for leasing transactions with G.T.T.C members.

G.T.T.C and Afriland First Bank exchange agreements

Afriland First Bank the leading bank in the Cameroonian market scenario, is one of the pioneers of this type of financing in Cameroon with its subsidiary Africa Leasing Company which Afriland absorbed in 2017.

According to the bank’s estimate for the period 2018-July 2021, the overall leasing market in Cameroon hit FCFA 134 billion. Over this same period the bank claims leadership with FCFA 65 billion of financing representing 48,5% of the market share. According to their observations, the bank is reported to have concluded that the leasing market in the country is still largely dominated by acquisitions of rolling stock for companies which also represents up to 90% of the portfolio of those who lease.

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