A delegation from this Cameroonian bank, led by Celestin Nguela Simo, was received on 11 May 2022 in Ndjamena by the Chadian Minister of Finance and Budget, Tahir Hamid Nguilin.
The delegation, composed of Célestin Guela, Bouba Youssoufa and Adam Madji, met with Tahir Hamid Nguilin to discuss the problems of financing the economy to boost the post-Covid-19 recovery and to support the country’s various economic actors. One of the major points raised during the meeting was the development project of the First Bank in Chad.
The implementation of Afriland First Bank’s expansion project in Chad should enable the bank to strengthen its position in Central Africa, after the sale of its assets in Equatorial Guinea. The leader of the credit market in Cameroon, Afriland First Bank had a 20.83% market share as at 31 January 2022, according to data from the Bank of Central African States (Beac).
“Chad is a country with enormous economic potential. It is a market with promising prospects for development, which benefits from a unique geostrategic positioning. With a young and dynamic population, the country represents in our eyes a good risk to take,” explained the head of the Afriland First Bank delegation.
For the record, Célestin Nguela Simo, head of this delegation will take over the reins of this banking institution as of July 1, 2022.