NOFIA S.A
NOFIA S.A is a Cameroonian 2nd-category microfinance institution offering savings, credit, money transfer, and prepaid card services through 17 branches across 5 regions, targeting underserved SMEs, salaried workers, farmers, and diaspora customers.
- Company typePrivate
- Founded2009
- HeadquartersDouala, Cameroon
- Headcount11–50
- GTM typeB2C
- OfferingServices
What NOFIA S.A does
NOFIA S.A (La Nouvelle Financière Africaine) is a Cameroonian microfinance institution classified as a 2nd category EMF (Établissement de Microfinance), licensed by MINFI under agrément N°0032 du 15 Octobre 2009 and authorized by COBAC Decision N°D-2009/117. Founded in 2009 by M. David MANFOUO and headquartered in Douala-Bonanjo, the company operates a branch-based retail banking model targeting financially underserved populations including SMEs, educational institutions, merchants, farmers/breeders, salaried employees, associations, and the Cameroonian diaspora. Share capital stands at 1.2 billion FCFA (approximately USD 1.8-2 million) and the network spans 17 branches across 5 regions of Cameroon (Littoral, Centre, Ouest, Est, Extrême Nord).
The product portfolio spans four primary categories: (1) deposit products including savings accounts (livret, Islamic, construction-linked, daily progress), checking accounts, and cash bonds/term deposits with negotiable rates; (2) credit products covering investment, consumer, agricultural, motorcycle, school (up to 3x salary via CRESCOU), factoring (up to 60% invoice prepayment), salary advances (up to 50% salary), overdrafts, and flash credit; (3) money transfer services including domestic transfers via NOFIA-Express/Cash Express and international remittances through partnerships with Western Union, MoneyGram, WAFACASH, Sigue, Small World, Paytop, MoneyTrans, and WorldRemit; and (4) monetic products including UBA-branded rechargeable VISA prepaid cards and mobile money services via MTN Mobile Money and Orange Money. Online microcredit (MOMOCASH, CORPOCASH, ELITECASH) is capped at 100,000 FCFA through MTN. Technology is built around a traditional microfinance banking platform with no proprietary AI/ML components; the IT function is staffed at a single department-head level.
Revenue is generated through a multi-stream model: net interest margin on credit products (investment, consumption, agricultural, salary-backed), transaction fees on domestic and international money transfers, deposit mobilization, and fees on prepaid card sales and cash bonds. Distribution is sales-led through the physical branch network with mobile collection services at customer locations and dedicated relationship managers. The go-to-market emphasizes financial inclusion for populations excluded from traditional banking due to lack of resources and guarantees, rapid credit processing (disbursement in under 72 hours), flexible guarantee options, and Sharia-compliant Islamic savings. Customer acquisition leverages digital presence (website, Facebook, LinkedIn, Instagram, WhatsApp) supplemented by field-based direct sales. Headcount is reported inconsistently across sources (27 per firmographics versus 100+ per company scale commentary circa 2018), suggesting either recent downsizing or a reporting discrepancy that warrants further diligence.
NOFIA S.A firmographics
Firmographics- Name
- NOFIA S.A
- Legal name
- La Nouvelle Financière Africaine, S.A
- Website
- https://nofia-sa.finance
- Company type
- Private
- Founded year
- 2009
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- NOFIA S.A is a Cameroonian 2nd-category microfinance institution offering savings, credit, money transfer, and prepaid card services through 17 branches across 5 regions, targeting underserved SMEs, salaried workers, farmers, and diaspora customers.
- Ownership category
- akta.pro rank
NOFIA S.A industry classification
Industry- Product category
- Microfinance Services
- SIC
- Short-Term Business Credit Institutions (6153)
- akta.pro primary industry
- Microloans & Working Capital Loans (FSAKAGAA)
- akta.pro secondary industries
- Microfinance, Financial Inclusion & Inclusive Markets (BPAGABAM), Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI), Agricultural & Rural Microfinance (FSAKAGAG)
Keywords
Where NOFIA S.A is headquartered
LocationHeadquarters
- HQ city
- Douala
- HQ country
- Cameroon
- HQ region
- Africa
Offices14 records
Markets served
NOFIA S.A business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales
Revenue model
- Credit/Financing: Interest income from various credit products including investment credits, consumption credits, agricultural credits, school loans, salary advances, and overdrafts
- Money Transfer Services: Commissions from national and international money transfer services including Western Union, MoneyGram, Sigue, Small World, Wafacash, Paytop, MoneyTrans, WorldRemit
- Deposit Taking: Collection of public savings through various account types including savings accounts, current accounts, and term deposits
- Cash Instruments (Bons de Caisse): Cash bonds with minimum subscription of 500,000 FCFA, renewable 1-year terms with negotiable remuneration rates
- Prepaid Card Sales: Sale of prepaid VISA electronic wallets in partnership with UBA
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Savings Account (Livret) |
| Subscription | Monthly | Islamic Savings Account |
| Subscription | Monthly | NOFIA Construction Savings |
| Subscription | Monthly | NOFIA Progress Account |
| One time/ perpetual license | Monthly | Checking Account (Particulier) |
| One time/ perpetual license | Monthly | Salary Transfer Account |
| Unit Pricing | Multi-year contract | Cash Bonds (Bons de Caisse) |
| Transaction based/ take rate | Multi-year contract | Term Deposits |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels7 records
NOFIA S.A product offering
Product offeringCore offering
NOFIA S.A is a Cameroon-based Category 2 microfinance institution that provides savings, financing, money transfer, and monetic services through a network of 17+ physical agencies across five regions. It serves underbanked populations including SMEs, salaried workers, farmers, and the diaspora with a diversified portfolio of accounts, credit products, and electronic payment services.
Product overview
NOFIA S.A is a microfinance institution (EMF 2nd category) offering a comprehensive suite of financial products through its multi-agency network across Cameroon. The portfolio consists of: (1) Savings accounts including regular savings, association savings, construction savings, Islamic savings, and NOFIA Progress daily savings; (2) Current/checking accounts for individuals, commercial entities, and associations; (3) Diaspora accounts; (4) Diverse financing products including investment credit, consumer credit, agricultural credit, motorcycle credit, school credit, factoring, salary advances, overdrafts, and flash credit; (5) Money transfer services including domestic (NOFIA-Express, Cash Express) and international transfers via partnerships with MoneyGram, Western Union, and others; (6) Monetic products including VISA prepaid cards and mobile money services; (7) Investment products including cash certificates and term deposits. The company targets SMEs, individual entrepreneurs, salaried workers, farmers, and community groups.
Differentiator
Problem solved
Functional benefit
Brands
- NOFIA-EXPRESS: Fast and cost-effective money transfer solution between NOFIA agencies across national territory using liaison codes.
- CASH EXPRESS
- NOFIA CRESCOU
- NOFIA PLACEMENTS
Products and services
- Compte d'Épargne sur Livret (Savings Account)
- Compte d'Épargne NOFIA Construction (Construction Savings Account)
- Compte d'Épargne Islamique (Islamic Savings Account)
- Compte NOFIA Progress (Daily Savings Account)
- Compte Courant Commercial (Commercial Current Account)
- Compte Chèque Particulier (Personal Check Account)
- Compte Virement des Salaires (Salary Transfer Account)
- Compte de la Diaspora (Diaspora Account)
- Crédit d'Investissement (Investment Credit)
- Crédit de Consommation (Consumer Credit)
- Crédit Agricole (Agricultural Credit)
- Crédit Moto (Motorcycle Credit)
- Crédit Scolaire (School Credit)
- Affacturage (Factoring)
- Avance sur Salaire (Salary Advance)
- Découverts (Overdraft Facility)
- NOFIA CRESCOU (School and University Credit)
- NOFIA-Express (Domestic Money Transfer)
- Transferts Internationaux (International Money Transfers)
- Cartes Prépayées VISA NOFIA (Prepaid VISA Cards)
- Micro Crédit en Ligne (Online Microcredit)
- Bons de Caisse (Cash Bonds / Savings Certificates)
- Dépôt à Terme (Term Deposit)
Quantifiable outcome
- Credit disbursement in under 72 hours for qualified applications
- +5 more outcomes
Companies that use NOFIA S.A
Customer profileNamed customers2 records
Segments7 records
Ideal customer profiles5 records
NOFIA S.A technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
Feature4 records
NOFIA S.A partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered core, major and minor.
- UBA (United Bank for Africa)corePartnership for prepaid VISA cards. NOFIA sells UBA prepaid electronic wallet cards that enable withdrawals via ATMs (GAB) and DAB (Automated Teller Machines), as well as online purchases and transactions.
- WAFACASH CENTRAL AFRICAcoreCollaboration for international money transfer services, enabling NOFIA customers to send and receive international transfers through Wafacash network.
- MTN Mobile MoneycorePartnership for mobile money services including electronic unit distribution (deposits and withdrawals) and online microcredit (MOMOCASH, CORPOCASH, ELITECASH) up to 100,000 FCFA.
- Orange MoneycorePartnership for mobile money services enabling electronic unit distribution for deposits and withdrawals through Orange Money network.
- Western UnionmajorInternational money transfer services for sending and receiving payments worldwide.
- MoneyGrammajorInternational money transfer services for cross-border remittances and payments globally.
- MoneyTransminorInternational money transfer services offered at NOFIA branches.
- WorldRemitminorInternational money transfer services for cross-border remittances.
- SigueminorInternational money transfer services available at NOFIA branches.
- Small WorldminorInternational money transfer services offered through NOFIA network.
- PaytopminorInternational money transfer services available at NOFIA branches.
Scale indicators5 records
Recent moves10 records
Expansion highlights5 records
NOFIA S.A competitors and assessment
Company assessmentDirect peers
- Express Union Cameroon: Cameroon-based microfinance network (3rd category MFI) operating a multi-region branch model with money transfer, savings, and credit services. Comparable institutional MFI model targeting similar underbanked segments.
- Wafacash Central Africa: Regional money transfer operator (and NOFIA partner) with overlapping agent-based remittance model in CEMAC. Comparable as a regional player in the same remittance corridor and a potential channel partner competitor.
- Crédit Mutuel du Cameroun (CMC): Cameroon-headquartered microfinance institution with national branch coverage offering savings, credit, and money transfer services. Directly comparable 2nd-category MFI serving SMEs and individuals.
- COFIDEC (Coopérative Financière de Développement): Cameroonian cooperative MFI providing savings, credit, and money transfer services through a network of agencies. Operates in similar regulatory framework with overlapping customer segments.
- ACEP Cameroun: Microfinance institution in Cameroon providing microcredit, savings, and related financial services to SMEs and individuals, with similar underbanked-target focus and COBAC regulatory standing.
- Advans Cameroun: 2nd-category microfinance institution operating in Cameroon with multi-region branch coverage, similar SME and individual customer focus, and comparable savings/credit/microfinance product suite. Closest like-for-like MFI peer in the same regulatory (COBAC) framework.
Broad incumbents
- United Bank for Africa (UBA) Cameroon: Commercial bank in Cameroon; notably also a strategic partner of NOFIA for VISA prepaid cards. Provides direct competition in retail and SME banking while also being an enabler of NOFIA's monetic offering.
- Ecobank Cameroon: Large commercial bank with full branch network across Cameroon offering savings, credit, transfers, and VISA cards. Overlaps with NOFIA in deposits, credit, and prepaid cards but operates at materially larger scale and broader product scope.
- BICEC (Banque Internationale du Cameroun pour l'Épargne et le Crédit): Major commercial bank in Cameroon with full branch network and broad product portfolio including savings, credit, and money transfer. Competes with NOFIA for SME and retail deposits.
Emerging players
- MTN Mobile Money (MoMo) Cameroon: Mobile money operator in Cameroon and NOFIA's partner for online microcredit and electronic unit distribution. Increasingly offers credit and savings products directly, representing a digital-first competitive threat to traditional MFI models.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
NOFIA S.A social profiles
Digital presenceNOFIA S.A financial estimates
Financial estimateRevenue estimate
Valuation estimate
NOFIA S.A leadership team
Management profileNumber of profiles
Profiles10 records
NOFIA S.A funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
NOFIA S.A 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 NOFIA S.A
What does NOFIA S.A do?
NOFIA S.A is a Cameroon-based Category 2 microfinance institution that provides savings, financing, money transfer, and monetic services through a network of 17+ physical agencies across five regions. It serves underbanked populations including SMEs, salaried workers, farmers, and the diaspora with a diversified portfolio of accounts, credit products, and electronic payment services.
Is NOFIA S.A a public or private company?
NOFIA S.A is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was NOFIA S.A founded?
NOFIA S.A was founded in 2009. It employs 11 to 50 people.
Where is NOFIA S.A based?
NOFIA S.A is headquartered in Douala, Cameroon, in the Africa region.
How does NOFIA S.A make money?
Five revenue lines are on record. Credit/Financing is the primary driver. The others are money Transfer Services, deposit Taking, cash Instruments (Bons de Caisse) and prepaid Card Sales.
Who are NOFIA S.A's main competitors?
Direct peers on record are Express Union Cameroon, Wafacash Central Africa, Crédit Mutuel du Cameroun (CMC), COFIDEC (Coopérative Financière de Développement), ACEP Cameroun and Advans Cameroun. Broad incumbents are United Bank for Africa (UBA) Cameroon, Ecobank Cameroon and BICEC (Banque Internationale du Cameroun pour l'Épargne et le Crédit). MTN Mobile Money (MoMo) Cameroon is listed as an emerging player.
Does NOFIA S.A have an API?
No public API is recorded for NOFIA S.A.
What industry is NOFIA S.A in?
NOFIA S.A's product category is Microfinance Services. Its primary akta.pro industry code is FSAKAGAA, Microloans & Working Capital Loans, with a secondary code of BPAGABAM, Microfinance, Financial Inclusion & Inclusive Markets. Its SIC code is 6153.