(lavoixdesentreprises.info) – On October 21, 2024, BgfiBank Senegal and the African Guarantee Fund (AGF) signed a strategic agreement aimed at improving access to financing for small and medium-sized enterprises (SMEs) in Senegal. This commitment reflects a shared desire to boost the local economy and support entrepreneurship, particularly in the areas of female and green entrepreneurship.
The BgfiBank Group, a major player in the banking sector in Africa, and the African Guarantee Fund have initiated a promising collaboration by signing a framework agreement designed to strengthen access to financing for SMEs in Senegal. This partnership, announced in a press release dated October 21, 2024, marks a significant step in both entities’ commitment to stimulating the national economy.
As part of this initiative, BgfiBank Senegal has developed a specific agreement with the AGF. This agreement aims to provide portfolio guarantees that will facilitate access to credit for SMEs, with a total allocation of 3 billion CFA francs. Each borrower will be eligible for an amount of up to 300 million CFA francs. This measure is particularly relevant in the current context, where SMEs represent a crucial pillar of the Senegalese economic fabric, generating a significant share of jobs and added value.
One of the key priorities of this agreement is to encourage female entrepreneurship and support projects eligible for green financing. This strategic choice aims to promote sustainable and inclusive business models that address contemporary societal and environmental challenges. By facilitating credit access for these specific segments, BgfiBank and the AGF hope not only to energize the local economy but also to create opportunities for populations that are often underrepresented in the entrepreneurial landscape.
Khady Boye Hanne, General Director of BgfiBank, emphasized the importance of this partnership, stating : “We are delighted to strengthen our collaboration with the AGF, which shares our vision for the development of SMEs in Senegal. This financing will encourage entrepreneurship and support our clients in realizing their projects, while stimulating our country’s economic growth.” This statement illustrates BGFIBank’s determination to play a key role in Senegal’s economic development.
This agreement also represents a strong commitment to the sustainable development of SMEs. BgfiBank and the AGF reaffirm their intention to provide financial solutions tailored to the specific needs of businesses, thus contributing to a stronger and more resilient economic environment. Since 2015, BgfiBank Senegal has established itself as a reference financial institution, offering a wide range of products and services tailored to various client segments.
The bank is committed to supporting not only SMEs but also large companies, states, institutional organizations, as well as individuals and freelancers. With a network of seven branches, BgfiBank Senegal aims to strengthen its proximity to its clients while continually developing its product and service offerings to meet the varied needs of its clientele.
The agreement between BgfiBank and the AGF marks a new milestone in the financial support of Senegalese SMEs. It opens promising prospects for these businesses, providing them with the means to develop in an environment conducive to innovation and sustainability. Through this initiative, BgfiBank and the AGF lay the groundwork for a bright future for entrepreneurship in Senegal, promoting inclusive and sustainable growth.
Sorelle Ninguem
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