ANPGF and African Lease Togo to help local businesses buy equipment they need

Economic governance

Tuesday, 16 February 2021 16:54

ANPGF and African Lease Togo to help local businesses buy equipment they need

(Togo First) - The National Agency for the Promotion and Guarantee of Financing for SMEs and SMIs (ANPGF) and African Lease Togo have teamed up to help local businesses (SMEs and SMIs notably) get the equipment they need.

Interviewed by Togo First about the initiative, Toussaint Sossou, MD of African Lease Togo, declared that "the ANPGF will provide the financial lessor a credit line to finance equipment purchases of SMEs and SMIs. This line will allow African Lease Togo to refinance SMEs and SMIs whose equipment needs are approved". That is one term of the partnership agreement signed by the two firms.

The other term states that "in the event African Lease Togo identifies and selects a business that meets requirements to benefit from the financing, the ANPGF will guarantee 50% of the amount provided".

The project was elaborated where "SMEs and SMIs generally struggle to get funds to operate, and especially to buy new equipment to grow", Sossou added.

All SMEs and SMIs regardless of their activity sector -agribusiness, construction, good transport etc can apply to get the financing. The value of the latter will be based on their needs.

Séna Akoda

REFORMS OVERVIEW

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PAYING TAXES AND DUTIES (more info)

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