Savana Finance, a microfinance institution specializing in Islamic finance, aims to mobilize between FCFA 15 and 30 billion from the Cameroonian diaspora within the next 24 months. To achieve this, Savana Finance is launching its "Savana Diaspora Connects" platform, presented as an integrated tool for savings, investment, and operational support, structured according to the principles of Islamic finance. These principles include backing by real assets and risk-sharing, key elements to attract diaspora investors.
The funds collected through this platform will be directed towards priority sectors such as structuring and productive real estate, SMEs with high job creation potential, agribusiness, local processing, agricultural modernization, productive equipment, and essential services. The main objective is to transform private transfers, often scattered, into structured and mobilizable resources for Cameroon's real economy.
Oumarou Mouctar, CEO of Savana Finance, emphasizes the ambition to transform informal financial flows into productive, traceable, and sustainable investments, capable of structuring value chains and strengthening Cameroon's economic resilience. The challenge is twofold: to capture a portion of foreign savings oriented towards consumption and to make an investment approach acceptable to subscribers sometimes far removed from local realities. The platform's credibility will depend on its ability to identify bankable projects, ensure rigorous monitoring, total transparency, and flawless traceability.
Savana Finance positions itself as an institutional catalyst for diaspora investment, with a long-term vision. The institution aims for a cumulative volume of FCFA 100 to 150 billion within five years. This trajectory involves moving from simply collecting funds to genuine portfolio management, including project identification, structuring investment vehicles compatible with Islamic finance, and securing financial flows.
The Cameroonian diaspora is increasingly seen as a lever for financing growth. Estimated at around 6 million people, it transferred more than FCFA 362 billion to Cameroon in 2024, representing 1.1% of GDP. Savana Finance aims to capture a fraction of these flows by transforming them into productive investments, thus helping to finance projects and SMEs. The success of this initiative will depend on the ability to deploy these funds effectively and avoid sectoral concentrations.
Islamic finance, although marginal in Cameroon, offers an ethical and inclusive alternative to conventional financial instruments. It is based on principles of justice, risk-sharing, and transparency, excluding speculative interest. The Cameroonian government has launched a national campaign to promote Islamic finance and encourage its adoption by economic actors. In 2022, a regulatory framework was adopted at the CEMAC level to govern Islamic finance activities.
