2023-07-12 10:01:40
DIG/ Officially launched on November 14, 2022, the Gabon Guarantee Company has indicated that, in 9 months of activity, it has already signed guarantee agreements with 3 credit institutions including BGFI Bank, Bicig, EDG for a total amount of 5.8 billion CFA francs in portfolio guarantee.
According to its managing director, Alban Etho, as of June 30, 2023, SGG has financed 36 SMEs for 2.2 billion francs in guarantees issued.
With an initial capital of 12 billion CFA francs, SGG has for main objective of offering local financial institutions a risk-sharing mechanism, through partial loan guarantee solutions for SMEs, in the form of portfolio guarantees, and individual guarantees.
The intervention of the subsidiary of the Gabonese Strategic Investment Fund (FGIS) aims to cover up to 50%, the risks inherent in the credits that will be granted to SMEs.
In addition, particular emphasis will be placed on SMEs led by women and those whose activities go in the direction of reducing the carbon footprint, through an increase in the coverage rate to 75%.
Today, SGG is the first financial institution issuing guarantees in the sub-region to have been approved by the Central African Banking Commission (COBAC), the regulator in the CEMAC zone.
It also benefits from the technical support of the African Guarantee Funds (AGF), a leading pan-African financial institution.
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