SG GHANA & PROPARCO FACILITATE ACCESS TO FINANCE FOR MICRO, SMES
Societe Generale Ghana & Proparco have signed an ARIZ portfolio guarantee of GHS 15 million which will facilitate Micro, Small And Medium-Sized Enterprises (MSMEs) access to credit and help them play their essential role in the economy during these challenging times.
Proparco, AFD Group's private sector arm, and Societe Generale Ghana have just signed
an ARIZ portfolio guarantee which will facilitate Micro, Small And Medium-Sized
Enterprises (MSMEs) access to credit and help them play their essential role in the
economy during these challenging times.
The guarantee mechanism worth GHS 15 million (EUR 2.4 million) will enable Societe Generale
Ghana to strengthen its activity towards Ghanaian MSMEs. Supporting MSMEs’ access to
finance: a priority shared by Société Générale and AFD GROUP.
Across Africa, micro, small and medium-sized companies’ access to bank credit remains often
limited. Echoing studies, many Ghanaian MSMEs mention the difficult access to credit as one of
the main obstacles to their development, even though they contribute 80% of jobs and 70% of
Societe Generale Ghana is a key player in financing entrepreneurship and the private sector,
and a major partner of Proparco. To support Societe Generale Ghana’s commitment towards
MSMEs in Ghana, Proparco granted a portfolio guarantee of GHS 15 million (EUR 2.4 million),
so that the bank improves the risk profile of its operations. This is the third ARIZ portfolio
guarantee to Société Générale Ghana. MSMEs will thus be able to benefit from additional credit,
which is of great importance to mitigate the financial impact of the global pandemic.
“The Societe Generale Group launched a four (4) year strategic program dubbed ‘Grow with
Africa’ to target and increase the Group’s exposure towards MSMEs by EUR 4 billion. The SG
Group believes that MSMEs are at the heart of the African economy as a result, it seeks to
encourage the development of innovative financing solutions adapted to local markets,"
emphasized Hakim Ouzzani Managing Director of Societe Generale Ghana in his speech.
Proparco’s Regional Managing Director for West Africa, Fatoumata Sissoko-Sy stated that
France, through the AFD Group launched the ‘Choose Africa’ initiative in 2019, which aims to
deploy EUR 2.5 billion to financing and supporting 10,000 start-ups and MSMEs on the African
continent by 2022. This continuing partnership with Société Générale Ghana takes a particular
meaning in the current crisis. Ghana is a priority for Proparco and this guarantee mechanism will
enable the bank to maintain credit flowing during this difficult period and would help businesses
Her Excellency Mrs. Anne-Sophie Ave, Ambassador of France to Ghana hosted the Choose
Africa launch ceremony in Accra in December 2019. She insisted on the strong commitment of
the French initiative Choose Africa to support Ghanaian MSMEs
This joint initiative is fully in line with the objectives of the AFD Group and Societe Generale
Ghana, which both remain resolutely committed to positive transformations on the African
By enabling Societe Generale Ghana to increase its loans to local MSMEs, this operation will
have a significant impact in terms of inclusive economic growth, in line with Objective 8 of the
Sustainable Development Goals and in full compliance with the Paris Agreement.