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
-
Guinea Launches AI Adoption Programme for 250 Companies With Microsoft
19:17
-
Orange pushes super app strategy, bets on Max it for growth in Africa, Middle East
18:27
-
Cameroon palm oil exports rise 17% in 2025 despite supply shortfall
18:17
-
Ghana Weighs Fuel Tax Adjustments as Pump Prices Rise
17:53
-
Nosy Iranja, a ribbon of sand between two worlds off the coast of Madagascar
16:46
-
Kenya Road Project Secures $550 Million World Bank Support to Improve Horn of Africa Trade
18:48
-
Egypt Advances $100M Dry Port Project in 10th of Ramadan City
18:45
-
Gulf Transfers to Cameroon Rebound to CFA11.8 Billion but Remain Marginal
21:02
-
Douala Sets Aside CFA1.8 Billion to Compensate Residents for Wouri Riverside Road
20:59
-
Cameroon’s Banana Exports Jump 22% in March, Driven by PHP
20:56
EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...
Flutterwave secures Nigerian banking license to offer credit and savings License enables direct d...
BCEAO mandates all financial institutions to complete integration Move aims to ensure seamless, i...
M-PESA evolves into major financial platform with 35 million users Telecoms, fintechs expan...
This week, Africa’s health outlook is shaped by mounting supply chain risks tied to global tensions,...
Ghana reviewing fuel taxes after recent pump price increases Minister says no decision yet; options include levy reductions Rising global oil prices...
World Bank to mobilize $550 million for Kenya road project Project to upgrade 508 km, boosting regional trade links Corridor to cut...
Egypt signs deal on $100 million dry port with EDECS, MEDLOG Facility aims to ease port congestion, shift freight from road to...
NSIA Banque CI, OEC-CI sign three-year SME support partnership Deal offers financing, training, and support for accountants and SMEs Aims to improve...
Nosy Iranja is one of the most iconic island destinations in northwestern Madagascar, lying in the Mozambique Channel about an hour and a half by boat...
Sungbo Eredo, located in southwestern Nigeria near the Yoruba town of Ijebu-Ode, stands as one of the most remarkable yet overlooked monuments of...