AFD and Orabank Gabon enter partnership to promote SME development in Gabon
The French Development Agency (AFD) and Orabank Gabon signed an agreement to promote the development of small and medium-sized enterprises.The French Development Agency (AFD) and Orabank Gabon signed an agreement to promote the development of small and medium-sized enterprises.
According to François Parmantier, Director of the Regional Agency of AFD Gabon and Sao Tome and Principe, the signing of this agreement between the two institutions "is the culmination of a process that began several months ago. It marks the beginning of a partnership designed entirely for the benefit of SMEs and SMIs in Gabon," Gabon News reports.
Orabank Gabon, present in Libreville and Port-Gentil, will work with the AFD on the ARIZ project, which aims to support companies wishing to invest in new projects.
Launched in 2009, it has supported nearly 70 SMEs since its launch in 2009, creating more than two thousand jobs in Gabon.
The Gabonese economy is little diversified and dependent on natural resources, coupled with an underdeveloped network of small and medium-sized enterprises (SMEs).
According to the CNPG employers union, there are less than 1,000 SMEs and 10,000 very small companies.