Share the page
Supporting MSMEs affected by the crisis with Ecobank Ghana
Project
-
Signature date
-
-
Location
-
Ghana
-
Financing tool
-
Financing amount (Euro)
-
5000000
-
Financing details
-
Guarantee of 34.4m Ghana Cedis (GHS)
-
Customer
-
ECOBANK GH
-
Type of customer
-
Financial institution
-
Country of headquarters
-
Ghana
-
Project number
-
CGH1208
This information is given at the time of signature, without prejudice to any developments in the operation/project.
By partnering with Ecobank Ghana, Proparco is providing access to its facilities to support Africa’s private sector, Choose Africa and ARIZ, for Ghanaian microenterprises and SMEs.
Client presentation
Ecobank Ghana is an affiliate of the pan-African banking group Ecobank Transnational Incorporated (ETI). Ecobank Ghana has been established in Ghana since 1990 and is today one of the three leading local banks.
Project description
Proparco has signed a partnership with Ecobank on behalf of AFD Group. It is part of the Choose Africa and ARIZ initiatives. The objective is to allow Ecobank Ghana to offer term loans for a total of up to GH¢ 50m (EUR 7.4m) to microenterprises and small and medium-sized enterprises affected by the economic repercussions caused by Covid-19.
Project impact
Once Ecobank has examined the financing requests, companies with less than 200 employees affected by the pandemic may be allocated loans under the Choose Africa initiative with maturities ranging between 12 and 60 months. These loans may amount to a total of up to three months of their turnover in 2019. Through this guarantee product specially created in response to the crisis, Ecobank Ghana will be able to maintain its financial flows to SMEs whose activity has been affected by the crisis: this product is thereby increasing the resilience of the SME segment, which is a central link in Ghana’s economy.