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With Société Générale Congo, supporting MSMEs affected by the Covid-19 crisis
Project
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Signature date
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Location
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Congo
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Financing tool
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Financing amount (Euro)
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1997082,13
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Financing details
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XAF 1.310bn guarantee covering a loan portfolio of about FCFA 1.6bn (about EUR 2.5m)
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Customer
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SG CONGO
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Type of customer
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Financial institution
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Country of headquarters
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Congo
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Project number
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CCG1184
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco has allocated a Choose Africa Resilience guarantee to Société Générale Congo to finance small and medium-sized enterprises affected by the crisis.
Client presentation
Société Générale Congo, a subsidiary of Société Générale Group, started its operations in April 2012 and aims to become one of the main banks in the country. It has a network of five branches in the two main cities of Brazzaville and Pointe Noire.
Project description
The Choose Africa Resilience portfolio guarantee allocated by Proparco will allow Société Générale Congo to offer loans with an 80% guarantee from AFD Group to SMEs that have been weakened by the Covid-19 crisis. This guarantee product, which has been made possible through resources specially allocated by the French State for MSMEs in Africa, is a key tool of the Resilience component of the French Choose Africa initiative.
Project impact
The guarantee will cover an SME loan portfolio for a total of up to EUR 2.5m. The project is thereby supporting entrepreneurship in the country.