The government of Niger has initiated a financing mechanism to give a helping hand to businesses affected by the coronavirus pandemic. According to authorities, the strategy is based on two lines: one for SMEs (CFA50 billion) and the second for large companies (CFA100 billion), for a total amount of CFA150 billion ($249.6 million).
“The government will make available to banks CFA25 billion in the form of a non-interest-bearing cash deposit guarantee for SMEs. In return, the banks undertake to inject CFA50 billion in the form of credit in favor of SMEs with annual turnover between CFA25 million and CFA1 billion,” according to an official statement.
For large enterprises, CFA25 billion will also be placed by the State with the banks in the form of a non-interest-bearing deposit to serve as a guarantee. The banks for their part undertake, this time, to grant CFA100 billion in credit to large companies whose annual turnover is higher than one billion CFA.
According to the government, a framework agreement will be signed between the state and the Association of Professionals of Banks and Financial Institutions of Niger (APBEF-N), within this framework.
• Inflation within the West African Economic and Monetary Union (UEMOA) fell to a two-year low of 0....
Flutterwave gained a BCEAO license to operate in Senegal, expanding to 35 African countries. ...
In Africa, the private sector is widely seen as the main engine of industrialization and plays a cen...
President Paul Biya, 92, to seek eighth term in October 2025 election In power since 19...
• Interbank volumes rose 18.7% in May, while rates declined across the market• The BCEAO cut its mai...
Highlights: • Kobold Metals signed an agreement in principle with the DRC government on July 17, 2025.• The deal includes the Manono lithium project,...
Highlights: • Global cocoa processing down across all major regions in Q2 2025• ECA: Europe’s grindings at lowest since 2020, Asia at lowest since...
Highlights: • Egypt targets 42% renewable energy share by 2030.• POWERCHINA to build 130-km high-voltage line signed on June 25.• National grid expansion...
Highlights: • EXIM Bank issues letter of intent for $150M to support Botswana's NexMetals• US eyes battery-grade nickel sulphates and cobalt from...
Ashenda is a vibrant traditional festival celebrated primarily in northern Ethiopia, particularly among the Tigray and Amhara communities, as well as in...
The Emerald Sea is a vast turquoise lagoon located in the northern part of Madagascar, just a few kilometers from the town of Antsiranana (formerly Diego...