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Supporting Cameroon’s SMEs
Project
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Signature date
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Location
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Cameroon
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Financing tool
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Financing amount (Euro)
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20000000
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Financing details
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XAF 13,119,140,000 guarantee
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Customer
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SGBC
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Type of customer
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Financial institution
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Country of headquarters
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Cameroon
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Project number
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CCM1826
This information is given at the time of signature, without prejudice to any developments in the operation/project.
With Société Générale Cameroun, a longstanding partner, Proparco is supporting the financial inclusion of Cameroon’s SMEs.
Client presentation
Société Générale Cameroun has been operating in Cameroon since 1963. Supporting SMEs is one of the key focuses of its strategy. It contributes to the development of Cameroon’s SMEs in a responsible and sustainable manner through various financial instruments. It has also supported the opening of the “Maison de la PME”, a platform that brings together a range of expertise and resources made available to SMEs free of charge. Société Générale Cameroun’s teams comprise more than 700 employees working to provide 245,000 active clients (large corporates, SMEs, institutions, professionals and private individuals) with solutions tailored to their needs.
Project description
Proparco has renewed its support to Société Générale Cameroun through an ARIZ portfolio guarantee of XAF 13bn (EUR 20m) to support Cameroon’s SMEs in their efforts to build a sustainable and resilient economy.
This new portfolio guarantee will help Société Générale Cameroun’s SME clients grow their businesses, primarily in high-impact sectors such as transport, industry and retail.
Project impact
The guarantee will help create and maintain jobs, while supporting more than 250 local businesses. It will also contribute to SDG 1 (“Eradicate poverty in all its forms everywhere in the world”), SDG 8 (“Decent work and economic growth”) and SDG 10 (“Reduced inequalities”).