ADEPME to launch assessment grid for SMEs in Senegal
The Agency for the Development and Support of Small and Medium Enterprises (ADEPME) is about to launch a new assessment system for SMEs in Senegal.The Agency for the Development and Support of Small and Medium Enterprises (ADEPME) is about to launch a new assessment system for SMEs in Senegal.
Its objective is to improve small and medium enterprises' access to finance, by easing their relationship with lenders across the country, where 90 percent of companies are of this size.
This system should improve the readability of companies and make it easier for banks to assess their solvency and perform a risk assessment related to the company's loan and its sector.
"We have the opportunity to build a new relationship between banks and SME thanks to the action of a third party whose main objectives will be to improve SME readability and secure finances that have been allocated to them by the State or the financial sector," explained Marie Thérèse Diédhiou, Managing Director of ADEPME, quoted by Ecofin news agency.
ADEPME technicians explained during a workshop last month that this tool will help to get rid of the asymmetry of information between the banker and the company's boss, WalFadjri newspaper reports.
Around 80 percent of credit applications are rejected by banks partly because of this asymmetry, said Abdoulaye Gaye, from the Observatory on Financial Services Quality.