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A Choose Africa Resilience guarantee for Société Générale Madagasikara for MSMEs in Madagascar
Project
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Signature date
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Location
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Madagascar
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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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MGA 9bn guarantee
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Customer
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SGM
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Type of customer
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Financial institution
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Project number
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CMG1731
This information is given at the time of signature, without prejudice to any developments in the operation/project.
The guarantee allocated to Société Générale Madagasikara, a longstanding partner of Proparco, is making it possible to allocate loans guaranteed by AFD Group to MSMEs affected by the Covid-19 crisis.
Client presentation
Société Générale Madagasikara has been operating in Madagascar for over 20 years. It currently has a network of 63 branches nationwide in Madagascar and employs over 850 people.
Project description
The portfolio guarantee allocated by Proparco will allow Société Générale Madagasikara to offer loans with an 80% guarantee from AFD to SMEs weakened by the Covid-19 health crisis. This guarantee scheme, 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.