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
-
Ghana’s Ci Gaba Fund Raises $34.9 Million to Support West African SMEs
03:14
-
Made in Africa: Ignite Launches Solar Kit Assembly in Four Countries
02:58
-
DR Congo: Rumors Trigger Panic Buying at Kinshasa Gas Stations
19:27
-
Orange Côte d’Ivoire Unveils App to Enhance Fiber Customer Experience
19:24
-
Dineo Lioma Launches Telehealth Platform for Routine Medical Car
19:14
-
Twiva Combines Influencer Marketing and E-Commerce in One Platform
18:17
-
PropelMapper Uses Voice AI to Modernize Agricultural Advisory
18:13
-
Gabon Centralizes Driver Data with New Digital Licensing System
18:11
-
Togo launches clean cooking program to expand access, cut reliance on biomass
17:25
-
Maritime region health officials review 2025 performance, set priorities
17:12
Firms move beyond payments toward integrated SME platforms Services include invoicing, inve...
The BCEAO now allows UEMOA citizens abroad to open CFA franc accounts under the same conditions as...
UBA UK, BII sign intent to expand trade finance in Africa Partnership targets funding gaps for in...
Ghana to submit UN resolution on slave trade March 25 Draft seeks recognition as gravest crime ag...
ECOWAS, Energy China discuss regional power infrastructure cooperation Talks cover $36.3...
Facilities aim to cut delivery times, reduce import dependence Expansion supports growing demand for off-grid energy solutions Solar kits for...
Panic buying over fuel shortages drives long queues and temporary stockouts at Kinshasa gas stations. Authorities affirm stable fuel supply and...
Orange Côte d’Ivoire launched “Ma Box Internet” to enable self-management of fiber services via mobile. The app allows users to monitor connections,...
PIDG invests €4.3 million in Afreenergy Solar to expand commercial and industrial solar solutions in Senegal. The project targets 30 MW of...
Top 50 ranking highlights women across core tourism service segments Tourism contributes $168 billion to GDP and supports over 24 million...
AI forces newsrooms to balance automation with credibility and trust Agentic AI boosts efficiency but risks scaling disinformation...