Algeria wants to boost SMEs financing through leasing
Société de Refinancement Hypothécaire and Société Nationale de Leasing now offer several leasing options.The government has recently introduced a number of measures to boost the creation of public leasing companies and wishes to promote this finance solution to increase small and medium enterprises' (SMEs') access to credit.
The SNL's Chief Executive Officer (CEO) Mohamed Krim told APS news agency that the institution targets more than 600,000 operational SMEs "to offer them new ways to get mid-term financing".
SRH's CEO Abdelkader Beltas told APS that his objective is to help professionals with at least three years of activity to boost their company's growth.
"We offer them long term financing. That is the type of finance solution that is currently missing on the market," he stated.
Another public leasing company, Ijar leasing Algérie, should also arrive on the local market next June.
The leasing market was until now dominated by three finance institutions and five private banks and represents ten per cent of bank financing in Algeria, recalls Econostrum newspaper.