Launch of a €15m guarantee fund for Gabonese SMEs
It will be operational in December.Gabon is finalizing the structuring of a guarantee fund of 10 billion CFA francs (€15.2 million), in partnership with Africa Guarantee Fund (AGF) and French financing organisation BPI France, it was announced this week.
"Following their last stay in Libreville, the managers of BPI France have made a commitment to ensure the structuring of this fund as early as next December," said Biendi Maganga Moussavou, Gabon's Minister of Trade and Small and Medium-sized Enterprises (SMEs), quoted by the Ecofin agency.
He added that a technical assistance agreement for the constitution of the Guarantee Fund will be signed on November 17th, 2016 in Abidjan between the Gabonese State, BPI France and the AGF.
The ministry is also in the process of finalizing an agreement with private equity firm Emerging Capital Partners (ECP), aimed at strengthening the management and organisational capacities of SMEs.
It will also contribute to facilitating their access to long-term loans and to improving their competitiveness to favour the emergence of national champions.