[ad_1]
The Bank Of Africa Group (BOA) of BMCE Bank and the International Finance Corporation (IFC) of the World Bank Group have just concluded a portfolio guarantee agreement in the amount of $ 60 million. dollars to increase financing for African SMEs, we learn from BOA.
This funding will allow the BOA Group to increase its financing dedicated to SMEs in 8 countries and to contribute to the creation of jobs and growth, says the group in a statement released Wednesday.
The agreement provides a 50% risk guarantee on a maximum portfolio of 120 million dollars of financing for SMEs in Burkina Faso, Ghana, Madagascar, Mali, Niger, Senegal, Tanzania and Togo.
Half of the investment will be dedicated to supporting women's SMEs, as well as activities related to the fight against climate change: acquisition of efficient equipment in energy consumption, installation of small solar or biomass systems, establishment of climate-smart supply chains in the agricultural sector, among others.
Funding is provided through the support of the Women Entrepreneurs Opportunity Facility (WEOF) -stopped by IFC through its Banking on Women program – as well as the Goldman Sachs 10,000 Women initiative.
Funding was also supported by the Global SME Finance Facility, a partnership between IFC, DFID, and the Netherlands Ministry of Foreign Affairs.
For Amine Bouabid, CEO of BOA Group, "this funding is in line with a strategy initiated over the last two years, to increase our support for SMEs, and we are convinced that these are the real development, tangible development, rooted in the everyday realities of African citizens. "
SMEs in sub-Saharan Africa account for 30-67% of GDP and create 67% of jobs.
[ad_2]
Source link
