GroFin, which specializes in financing small and medium-sized enterprises (SMEs), is determined to bring its innovation to solve the problem of financing these economic units in Senegal.
The structure intends to put in place a real roadmap, focused on a financial, strategic and short-term portfolio management plan, to meet the financing challenge for SMEs / SMIs.
On the sidelines of the official launch of the company’s activities in Senegal, Thursday, May 3 in Dakar, the director of investments of GroFin, Djibril Maguette Mbengue, has unveiled the plan of action of the establishment which is at its second office in Dakar. Francophone Africa after that of Côte d’Ivoire.
The director said his priority remains the financing of SMEs in Senegal, which constitutes the bulk of the country’s economic fabric, with a turnover of over 11,349 billion FCFA.
Maguette Mbengue noted that despite the flourishing of micro finance institutions in the mesofinance chain, there is a strong demand for financing of SMEs, so far unmet.
And to add that the statistics of the National Agency of Statistics and Demography (ANSD) of Senegal revealed that 62.3% of companies said they had funding needs to improve their premises. 68.8% of these companies mentioned a need to expand their activities, 45% to buy raw materials and 24.7% to acquire capital goods. This constitutes a major challenge for SME financing in the medium and long term.
With this in mind, GROFIN intends to make an effective contribution to closing the gap through a single order, aiming to bring its expertise to SMEs at the same time, by offering them adequate financing with their size. The institution will advise its companies to set up specialized funds to meet national and international standards and standards.
Founded in 2004, GroFin has funding of more than US $ 500 million and is supported by more than 30 donors and partners.
The company’s main mission is to help SMEs, operators … create jobs, necessary for the smooth running of the economy. In this sense, it supported 8,800 entrepreneurs who generated 86,190 jobs over its 14 years of existence.
