African Guarantee Fund West Africa to inject $75M in local SMEs over the next five years

Economic governance
Friday, 20 July 2018 16:09
African Guarantee Fund West Africa to inject $75M in local SMEs over the next five years

(Togo First) - Over the next five years, the African Guarantee Fund West Africa will disburse $75 million (CFA41 billion) to support Togolese SMEs.

The funds will allow “financial institutions and banks to disburse about $150 million to support business operators, in addition to technical assistance provided to the private sector, said Adidjatou Zanouvi, Managing Director African Guarantee Fund West Africa on July 20, 2018.

The guarantee fund during a meeting with Togo’s Prime Minister, Komi Sélom Klassou, told the official they considered SMEs to be a priority. Its executives explained their choice saying they believe these enterprises to be the weak link in the economic chain and also because SMEs lack adequate financing to support their growth.

Séna Akoda

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