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Scaling up financing for Senegalese SMEs
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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12000000
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Financing details
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Guarantee for XOF 7,871,484,000.00
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Customer
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SGSN
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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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CSN1788
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco is providing support to a key local player, Société Générale Sénégal (SGSN), for its financing activity for Senegalese small and medium-sized enterprises, through an ARIZ portfolio guarantee.
Client presentation
A longstanding partner of AFD Group, Société Générale Sénégal (SGSN) is a Senegalese universal bank founded in 1964. The second largest bank in Senegal and one of the oldest, SGSN is a leader in the banking industry with some 180,000 clients (including 2,000 companies), around 40 branches, and more than 800 employees.
Project description
This ARIZ guarantee, for the equivalent in local currency of EUR 12m (almost FCFA 8bn), aims to cover 50% of a loan portfolio for MSMEs. This guarantee is thereby supporting Société Générale Sénégal’s growth in this market segment and is facilitating access to bank financing for SMEs.
Project impact
The ARIZ portfolio guarantee is one of AFD Group’s flagship tools. It is particularly effective for promoting investment and job creation in SMEs operating in a number of high-impact sectors (agriculture, health, industry, microfinance, transport…).