Côte d’Ivoire : Société Générale opens a $594.3 mln credit line for SMEs
Friday, 24 May 2019 17:34
On May 20, 2019, Société Générale Côte d’Ivoire concluded a XOF350 billion ($594.3 million) loan agreement with the state secretary to the ministry of trade and industry.
The credit line will help support the growth of SMEs that represent close to 80% of the overall companies in Côte d’Ivoire.
The bank initiated a funding strategy for local SMEs in growth sectors. The 2019-2023 strategy is backed by a XOF450 billion funding.
According to a 2017 study by Entrepreneurial Solutions Partners (ESPartners), the funding needs of formal SMEs in Côte d’Ivoire is estimated at XOF3.5 billion.
Chamberline Moko
Live News
-
Cameroon’s Vice Presidency Reform: A Response to Political Risk Weighing on Sovereign Ratings
20:33
-
Russia, Facing Western Sanctions, Looks to Egypt for Grain and Energy Hub
20:28
-
Flutterwave Secures Banking License in Nigeria, Joining Push by Fintechs Like Revolut, Wise
20:24
-
Djibouti Launches No-Degree Coding School to Tackle Digital Skills Gap
20:05
-
Ghana's 3Farmate Bets on Robotics to Transform African Farming
14:49
-
Togo Exceeds Bond Target as Strong Demand Drives 4x Oversubscription
14:46
-
Dr. Beaugrain Doumongue: “In Africa, Competitive Intelligence Often Stops at Information Gathering”
12:15
-
IMF appoints Mauritania’s Zeidane to head Africa Department
18:56
-
BCEAO sets June 30 deadline for operators to join instant payment platform
18:52
-
Cameroon higher education group plans microfinance bank for student startups
18:34
BCEAO mandates all financial institutions to complete integration Move aims to ensure seamless, i...
A $147M Novastar Ventures fund backed by major Japanese firms offers co-investment rights int...
ECOWAS and IMF sign cooperation framework to strengthen policy alignment West Africa’s grow...
Coca-Cola will invest $1.03 billion in South Africa by 2030 to expand capacity and distributi...
West African Development Bank plans CFA6,500 billion ($11.5 billion) in financing for 2026–2030. ...
Putin proposes Russia-Egypt grain and energy hub to boost trade Egypt seen as strategic hub for redirected Russian exports Project faces uncertainty...
Djibouti launches École 42 digital training network with international partnership Program offers peer-learning, no degrees, focusing on practical tech...
Failing to anticipate market shifts can be costly for African businesses operating in increasingly competitive and volatile environments. Yet many still...
Project targets reduced errors, better traceability and fairness Initiative part of broader government digital transformation efforts Mauritania is...
“Dodji, l’Archet Vodoun” is a documentary about reconnecting with ancestral culture to understand one’s origins, following an initiation ceremony that...
The Bijagos Archipelago, located off the coast of Guinea-Bissau, stands as one of West Africa’s most extraordinary island systems. Made up of around forty...