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Ecobank Senegal: promoting MSME financing
Project
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Signature date
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Location
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Senegal
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Financing tool
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Financing amount (Euro)
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2000000
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Financing details
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XOF 1,311,914,000.00 guarantee
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Customer
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ECOBANK SENEGAL
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Type of customer
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Financial institution
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Country of headquarters
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Senegal
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Project number
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CSN1737
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco is helping finance small local businesses by allocating an ARIZ risk-sharing guarantee to Ecobank Senegal.
Client presentation
Ecobank Senegal was set up in July 1998 as one of the first subsidiaries of Ecobank Transnational Incorporated (ETI) Group. ETI is a strategic partner of AFD Group and has been a partner of Proparco for many years, especially through the allocation of guarantees to several of its subsidiaries. ETI is the majority shareholder of Ecobank Senegal, a universal bank offering a wide range of products. It is the third largest bank in the country in terms of deposits and seventh in terms of loan portfolio.
Project description
The ARIZ guarantee is supporting Ecobank Senegal’s growth in the MSME segment. With a total amount of EUR 2m in local currency equivalent (about XOF 1,312m), the ARIZ guarantee aims to cover 50% of Ecobank Senegal’s SME loan portfolio.
Project impact
The ARIZ portfolio guarantee is one of AFD Group’s flagship tools. It is especially effective in promoting investment and job creation in MSMEs operating in a number of high-impact sectors of activity (agriculture, health, industry, microfinance, transport…).