Coming Soon: WAEMU’s first support window for SMEs and SMIs

Monday, 09 May 2022 13:02
Coming Soon: WAEMU’s first support window for SMEs and SMIs

(Togo First) - On May 5th, 2022, Blaise Ahwantchede, Afrik Créances’ boss, revealed that the banking and non-banking intermediate company plans to set up the first support fund and single window for SMEs and SMIs (GURFI) active in the West African region. He announced this at the launch of the International Forum for Innovation and Digital Technologies (FONI) in Lomé.  

In the presence of executives from the BCEAO, CREPMF, the BRVM, and the Ministry of Finance of Togo, the former MD of the Groupement interbancaire monétique de l'Union économique et monétaire ouest-africaine-GIM-UEMOA declared: “We wish to bring our modest contribution [to the issue of SME and SMI financing], by setting up, in the coming years, the first Single Regional Counter and Impulse Fund for SMEs and SMIs, the "GURFI" in short.” 

According to Ahwantchede, the window could help operators access cross-border financing mechanisms, and be “an inclusive tool that will support actors in getting financing.” 

“This window will collaborate with national windows to support economic operators, helping them invest in other countries.” 

While the operating framework of the entity is yet to be properly defined, it will integrate several partner countries and western lenders. 

“In the coming years, we will define the implementation framework of the fund which we believe to be essential to support regional projects.”

Ayi Renaud Dossavi

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