This is an amount of $ 75 million of loans that the African Guarantee Fund intends to provide as a guarantee to support small and medium-sized Togolese businesses.
In this sense, a headquarters agreement was initialed Thursday, July 19 between the Togolese authorities and the financial institution. Indeed, the former Gari Fund will help the private sector raise not less than $ 150 million, or more than 82 billion FCFA from banks.
Thus, over the next 5 years, the institution plans to grant a little more than 75 million dollars, about 41.25 billion CFA francs, guarantees to banks and financial institution of the country, according to Adidjatou Zanouvi, Director General from AGF Africa, quoted in a statement.
These guarantees should raise and help finance 82.5 billion CFA francs, or about 150 million dollars that financial institutions will make available to Togolese SMEs and SMIs. The purpose of the contribution is to facilitate financing for the Togolese private sector.
According to the director general, the international financial institution will also set up a project incubator for this purpose in the country and will set up technical assistance to increase the capacity of banks as well as those of SMEs and SMIs in Togo.
As a reminder, this support from AGF to the Togolese private sector is part of a strategy to provide guarantees, on average, to 2,000 SMEs and SMIs compared to 1,000 currently, per year and per country in Africa. ‘Where is.
