Togo's chamber of trade and industry is in the process of setting an investment and guarantee fund for SMEs and SMIs

Economic governance
Monday, 03 February 2020 15:46
Togo's chamber of trade and industry is in the process of setting an investment and guarantee fund for SMEs and SMIs

(Togo First) - Togo’s chamber of trade and industry (CCIT) is looking to set up an investment and guarantee fund for SMEs and SMIs. The project is backed by the European Union (EU). 

The CCIT has ordered the feasibility study for the project and should meet today, February 3, with concerned actors that are likely to be engaged in the management of the fund.

Let’s recall that the institution had already put in place a guarantee mechanism to ease the execution of procurements to SMEs and SMIs. This other mechanism, according to CCIT’s boss Germain Mèba, will help struggling businesses execute public contracts. 

Under the initiative, the CCIT puts XOF100 million in local banks which in turn have to lend money to companies in need. 

Séna Akoda

togofirst mobile

 
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