West Africa: $30 million to support SMEs

Dec 01, 2016

Atlantic Business International has entered into an agreement with the African Guarantee Fund.

Atlantic International Group (ABI), a holding composed of the Banque Centrale Populaire and the Atlantic Financial Group, has signed a $30 million (€28.1 million) agreement with the African Guarantee Fund (AGF) to support small and medium-sized enterprises (SMEs).

This agreement will facilitate access to credit for SMEs in the region, through mutual risk sharing.

The implementation of this agreement will take place through ABI's network of banking subsidiaries in Burkina Faso, Benin, Côte d'Ivoire, Mali, Senegal, Niger and Togo.

Meanwhile, Gabon is finalising the structuring of a guarantee fund of 10 billion CFA francs (€15.2 million), in partnership with AGF and French financing organisation BPI France.

"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.ADNFCR-2976-ID-801829244-ADNFCR