Express Union gets CFAF2bln loan to boost operations in Chad

Finance

Express Union gets CFAF2bln loan to boost operations in Chad

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- Tuesday, 18 July 2023 03:48

(Business in Cameroon) - Express Union, the microfinance group owned by Cameroonian business mogul Albert Kouinche, recently secured a $3 million (about CFAF2 billion) loan from the International Finance Corporation (IFC).

The loan will enable Express Union to further support the development of SMEs in Chad, where it is operating, since 2007, with a network of 38 branches.

This loan is the second provided by the IMF to Albert Kouinche in one year. In July 2022, the business mogul, through Société Camerounaise d’équipement (SCE), one of his other companies, secured a CFAF2 billion loan. The funds made available to this financial institution were to boost the financing of Cameroonian SMEs through leasing.

BRM

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