Sofina
Sofina SA is a Cameroon-based microfinance institution founded in 1997, operating 23 branches across all eight regions of Cameroon and serving 70,000+ individuals, SMEs, retired civil servants, NGOs, and rural borrowers with savings accounts, micro-credit loans, money transfer services (Minute Cash and Western Union), Visa debit cards, and bancassurance through its SOFI-ONLINE mobile wallet and physical branch network.
- Company typePrivate
- Founded1997
- HeadquartersDouala, Cameroon
- Headcount101–250
- GTM typeB2C
- OfferingServices
What Sofina does
Sofina SA is a Cameroon-based microfinance institution (EMF) founded in 1997 and headquartered at Rue Pau Akwa in Douala. It operates 23 branches across all eight administrative regions of Cameroon—Littoral, Centre, Est, Adamaoua, Ouest, Sud, Nord-Ouest, and Sud-Ouest—and serves more than 70,000 customers spanning individuals, retired civil servants, entrepreneurs, SMEs/PMIs, NGOs/associations, and rural/income-generating activity clients. Its product portfolio includes savings accounts (Nos Comptes), micro-credit products (cash loans, Monde Rural agricultural credit, Credit Scolaire/Credit Pour Un Champion education loans up to FCFA 10,000,000 disbursed within 48 hours over 10 months), domestic and international money transfer (Minute Cash, Minute Cash International, Western Union), Visa debit cards (Carte Visa Sofina), and bancassurance.
The core technology stack centers on the SOFI-ONLINE (also branded SOFI-MOBILE) mobile wallet application—currently at version v1.8.4—with digital portfolio management features, distributed via Google Play with QR-code onboarding. Physical branches are equipped with ATMs (GAB) and connected to the Visa network for card-based payments and withdrawals. Account managers are accessible via WhatsApp and dedicated phone lines, providing a hybrid digital-plus-relationship service model. Underlying integrations include Western Union for cross-border remittances and an internal Minute Cash switch for domestic transfers.
Sofina's revenue model is multi-stream: net interest margin from micro-credit lending (its primary revenue engine, including cash loans, agricultural credit via Monde Rural, and education loans), funding-cost spread on savings deposits, transaction fees on money transfers (domestic Minute Cash and international Western Union), electronic payment service fees (including Visa card issuance), and bancassurance commissions. Pricing is not publicly disclosed; one disclosed benchmark is the school credit product capped at FCFA 10,000,000 with a 10-month repayment window and exemption from many ordinary credit fees. Sofina reaches customers predominantly through direct-to-consumer distribution via its branch network and mobile app, with supporting acquisition channels including Facebook, LinkedIn, Instagram, YouTube, community event participation (e.g., Babouantou chief installation, Marché de Noël Microfinance Pavilion), in-branch marketing, and a corporate newsletter (Revue d'entreprise). The company is independently owned with no disclosed external investors or parent entity, and no subsidiaries.
Sofina firmographics
Firmographics- Name
- Sofina
- Legal name
- SOFINA SA
- Website
- https://sofina-sa.com
- Company type
- Private
- Founded year
- 1997
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Sofina SA is a Cameroon-based microfinance institution founded in 1997, operating 23 branches across all eight regions of Cameroon and serving 70,000+ individuals, SMEs, retired civil servants, NGOs, and rural borrowers with savings accounts, micro-credit loans, money transfer services (Minute Cash and Western Union), Visa debit cards, and bancassurance through its SOFI-ONLINE mobile wallet and physical branch network.
- Ownership category
- akta.pro rank
Sofina industry classification
Industry- Product category
- Microfinance
- NAICS
- Savings Institutions and Other Depository Credit Intermediation (52218), Depository Credit Intermediation (5221), Credit Intermediation and Related Activities (522)
- SIC
- Personal Credit Institutions (6141), Short-Term Business Credit Institutions (6153), State Commercial Banks (6022)
- akta.pro primary industry
- SME, Microfinance & Financial Inclusion Facilities (BPADACAI)
- akta.pro secondary industries
- Lending & Credit Disbursements (FSAMAKAH), Agricultural & Rural Development Banks (FSABAKAE), Underbanked/Financial Inclusion Neobanks (FSABAFAJ)
Keywords
Where Sofina is headquartered
LocationHeadquarters
- HQ city
- Douala
- HQ country
- Cameroon
- HQ region
- Africa
Offices24 records
Markets served
Sofina business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Micro-credit Lending: SOFINA generates revenue primarily through micro-credit lending operations, offering various loan products including cash loans, agricultural credit (Monde Rural), and school loans to individuals, entrepreneurs, and SMEs across Cameroon.
- Savings Accounts: The institution collects deposits from customers through various savings account products, using these funds for lending operations.
- Money Transfer Services: Revenue generated from domestic (Minute Cash) and international money transfer services including Western Union.
- Electronic Payment Services: Fees from electronic payment processing and Visa card services.
Go-to-market motion1 record
Distribution channels4 records
Marketing channels7 records
Sofina product offering
Product offeringCore offering
Sofina is a Cameroonian microfinance institution that provides savings accounts (Nos Comptes), micro-credit products including cash loans, agricultural 'Monde Rural' credit, and school/university loans of up to 10,000,000 FCFA disbursed within 48 hours, as well as domestic and international money transfer services (Minute Cash and Western Union), Visa debit cards, and bancassurance products. Its services are delivered through a network of 23 physical branches across Cameroon and the SOFI-ONLINE mobile banking application, serving over 70,000 individual and small business clients.
Product overview
Sofina is a Cameroonian microfinance institution (EMF) established in 1997, offering a comprehensive suite of financial products through both digital (SOFI-ONLINE mobile app) and physical (23 branches across Cameroon) channels. The product portfolio centers on savings accounts (Nos Comptes), micro-credit products (Micro-Credit Cash, Credit 'Monde Rural' for agriculture, Credit Scolaire for education), money transfer services (Minute Cash domestic, Minute Cash International, Western Union), Visa debit cards (Carte Visa Sofina), and bancassurance offerings. The company serves individuals, civil servants, retirees, entrepreneurs, SMEs, and microfinance organizations across multiple customer segments including PARTICULIERS, FONCTIONNAIRES RETRAITÉS, ENTREPRENEURS, PME et PMI, and ASSOCIATIONS/ONGs.
Differentiator
Problem solved
Functional benefit
Brands
- SOFI-ONLINE: Mobile wallet management application for digital banking services
- SOFI-MOBILE
- Minute Cash
- Minute Cash International
- Credit Pour Un Champion
- Credit Monde Rural
Products and services
- SOFI-ONLINE / SOFI-MOBILE Mobile Wallet Application Mobile wallet application that lets Sofina customers access accounts, conduct transactions, and manage their financial portfolio digitally via smartphone. It is Sofina's primary digital banking channel, available for download via Google Play Store.
- Nos Comptes (Savings Accounts) Savings account products including Compte Épargne sur Livret, providing deposit facilities for individuals and businesses to store funds securely with Sofina.
- Micro-Credit Cash Quick micro-loan product providing rapid access to credit for cash needs, aimed at customers requiring immediate financing with shorter repayment terms.
- Crédit 'Monde Rural' Agricultural microfinance product designed to support rural and farming communities, providing financing for agricultural activities and rural economic development in Cameroon.
- Crédit Scolaire et Universitaire (Credit Pour Un Champion) Education financing product for parents financing their children's school or university fees, with up to 10,000,000 FCFA disbursed within 48 hours and repayment over 10 months on favorable terms.
- Minute Cash Domestic money transfer service enabling quick cash transfers between customers and locations within Cameroon, providing liquidity access.
- Minute Cash International International money transfer service extending Minute Cash across borders for global remittance needs.
- Carte Visa Sofina Visa debit card issued by Sofina enabling electronic payments, withdrawals, and card-based transactions at ATMs and merchants accepting Visa.
- Banque Assurance Bancassurance product combining banking and insurance services, offering insurance products distributed through the Sofina microfinance network.
- Western Union Money Transfer Service International remittance service offered at Sofina branches through a partnership with Western Union, enabling cross-border money transfers.
Quantifiable outcome
- 70,000+ customers served across Cameroon
- +2 more outcomes
Companies that use Sofina
Customer profileSegments5 records
Ideal customer profiles3 records
Sofina technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
Feature3 records
Sofina partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- PASNFI (Projet d'Appui au Secteur de la Nefinancement Informel)coreSOFINA participated in the TRANSFAGRI project signing ceremony at Hotel Mont Febe with PASNFI and partner microfinance institutions for the implementation of agricultural financing initiatives. This represents a strategic partnership for agricultural sector development.
- Western UnioncoreSOFINA offers international money transfer services through Western Union, allowing customers to send and receive remittances globally through the branch network.
Scale indicators6 records
Recent moves6 records
Expansion highlights6 records
Sofina competitors and assessment
Company assessmentDirect peers
- Advans Cameroun: Advans Cameroun is a network-affiliated microfinance institution serving individuals, SMEs, and entrepreneurs in Cameroon with deposit, credit, and remittance products — the closest direct competitor to Sofina's core MFI offering in the same geography.
- ACEP Cameroun: ACEP Cameroun is a microfinance institution focused on microcredit and savings for micro-entrepreneurs and small enterprises in Cameroon, directly competing with Sofina for the same underserved customer segments.
- Baobab Group (formerly MicroCred) Cameroon: Baobab (MicroCred) operates one of the larger digital-enabled MFI networks in Cameroon, offering microcredit, savings, and digital payments to individuals and SMEs — a direct peer in both product set and target customer as Sofina.
- Express Union Cameroon: Express Union is a Cameroonian financial institution specializing in money transfer (including Western Union) and increasingly microfinance — directly comparable to Sofina's Minute Cash remittance and savings offerings.
Broad incumbents
- Ecobank Cameroon: Ecobank Cameroon is a commercial bank with a wide retail and SME footprint that also offers mobile and agent banking, competing with Sofina for deposits and small-business credit across the same Cameroonian regions.
- Société Générale Cameroun (SGBC): Société Générale Cameroun is a large commercial bank offering retail, SME, and digital products; it competes with Sofina for upper-tier SME and salaried customers, and serves as a comparison point for branch banking in Cameroon.
Regional players
- Cofina (Côte d'Ivoire-headquartered, West/Central Africa): Cofina is a regional MFI network active in several West and Central African countries; it is comparable to Sofina as a multi-country microfinance operator that could enter Cameroon, posing a future competitive threat.
Others
- Finam (COFIDIS-equivalent consumer credit peer): Finam and similar Cameroonian consumer credit providers are adjacent peers focused on salaried-lending and small-ticket credit — relevant as a benchmark for the personal-credit segment Sofina addresses.
Emerging players
- Orange Money Cameroun: Orange Money is the second major mobile money operator in Cameroon, providing digital wallets, transfers, and savings — directly competing with SOFI-ONLINE and Minute Cash for transactional volume.
- MTN Cameroon Mobile Money (MoMo): MTN MoMo is the dominant mobile money platform in Cameroon handling P2P transfers, bill pay, and increasingly microcredit — an emerging competitor threatening Sofina's deposit and remittance franchise.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Sofina social profiles
Digital presenceSofina financial estimates
Financial estimateRevenue estimate
Valuation estimate
Sofina leadership team
Management profileNumber of profiles
Profiles1 record
Sofina funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Sofina M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Sofina
What does Sofina do?
Sofina is a Cameroonian microfinance institution that provides savings accounts (Nos Comptes), micro-credit products including cash loans, agricultural 'Monde Rural' credit, and school/university loans of up to 10,000,000 FCFA disbursed within 48 hours, as well as domestic and international money transfer services (Minute Cash and Western Union), Visa debit cards, and bancassurance products. Its services are delivered through a network of 23 physical branches across Cameroon and the SOFI-ONLINE mobile banking application, serving over 70,000 individual and small business clients.
Is Sofina a public or private company?
Sofina is a private company. It is classified as unknown and is currently operating.
When was Sofina founded?
Sofina was founded in 1997. It employs 101 to 250 people.
Where is Sofina based?
Sofina is headquartered in Douala, Cameroon, in the Africa region.
How does Sofina make money?
Four revenue lines are on record. Micro-credit Lending is the primary driver. The others are savings Accounts, money Transfer Services and electronic Payment Services.
Who are Sofina's main competitors?
Direct peers on record are Advans Cameroun, ACEP Cameroun, Baobab Group (formerly MicroCred) Cameroon and Express Union Cameroon. Broad incumbents are Ecobank Cameroon and Société Générale Cameroun (SGBC). Cofina (Côte d'Ivoire-headquartered, West/Central Africa) is listed as a regional player. Finam (COFIDIS-equivalent consumer credit peer) is listed as an others. Emerging players are Orange Money Cameroun and MTN Cameroon Mobile Money (MoMo).
Does Sofina have an API?
No public API is recorded for Sofina.
What industry is Sofina in?
Sofina's product category is Microfinance. Its primary akta.pro industry code is BPADACAI, SME, Microfinance & Financial Inclusion Facilities, with a secondary code of FSAMAKAH, Lending & Credit Disbursements. Its NAICS code is 52218 and its SIC code is 6141.