Financing SMEs: Proparco Provides 13Billion Xaf To SGC Bank
The private sector financing arm of Agence Française de Développement Group (AFD Group) Proparco has renewed its support for Société Générale Cameroun through an ARIZ portfolio guarantee of 13 billion XAF (20 million euros) in order to support Cameroonian SMEs for a sustainable and resilient economy.
ARIZ is a final loss guarantee offered to financial institutions by AFD to cover 50 to 75% of an individual loan or a loan portfolio for SMEs and microfinance institutions (MFIs).
Société Générale Cameroun sees SMEs support as a key area of its strategy to contribute in a responsible and sustainable way to the development of Cameroon’s SMEs. This is possible through various financing facilities, such as the opening of the “Maison de la PME”, a platform that brings together a range of expertise and resources made available to them free of charge.
This renewed portfolio guarantee will enable SGC’s SMEs customers; primarily in high-impact sectors such as transport, industry and retail, to grow their businesses.
These measures will help to create and maintain jobs in Cameroon, while supporting more than 250 local businesses.
