Togo: SOFEMEF has loaned CFA15 billion to local businesses since 2017

Banking
Thursday, 23 September 2021 16:12
Togo: SOFEMEF has loaned CFA15 billion to local businesses since 2017

(Togo First) - Société Générale de Micro et Méso finance or Sogemef said it has loaned over CFA15 billion to its customers in Togo, between 2017 and now. 

The lender, which focuses on small businesses (SMEs, SMIs, TPMEs, TPMIs) emphasize that the funds went to sectors like agriculture, crafts, trade, hospitality, tourism, and construction. It also offered "more flexible guarantees as well as adapted and innovative solutions in all sectors of the national economy."

SOGEMEF recently expanded to another city, Kpalimé. This is as it now competes with COFINA, an Ivorian group, which settled in Lomé last March. 

It should also be noted that SOGEMEF claims "solid partnerships" with the ANPGF (National Agency for Promotion and Guarantee of Financing (SMEs/SMIs)), the MIFA (Incentive Mechanism for Agricultural Financing, based on risk-sharing), the FAIEJ (Support Fund for Youth Employability) for the benefit of its clientele, "large of more than 15,000 accounts. For its part, COFINA, which is more recent, has also partnered with MIFA and Cube, an incubator that supports young entrepreneurs.

Ayi Renaud Dossavi

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