Proparco and Société Générale Sénégal strengthen their partnership to support entrepreneurship in Senegal

published on 17 November 2023
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Proparco et Société Générale Sénégal renforcent leur partenariat en faveur de l’entrepreneuriat au Sénégal
Proparco is once again supporting a long-term partner by granting Société Générale Sénégal an "ARIZ" portfolio guarantee to boost credit to VSEs and SMEs.

The AFD Group's (Agence Française de Développement) ARIZ risk-sharing programme helps improve access to finance for very small and medium-sized local businesses, which are often unable to provide guarantees that meet the high standards required by financial institutions. The ARIZ guarantee thus helps banks to share credit risks, reduce the level of collateral required and support the development of their financing services for SMEs.

Société Générale Sénégal remains the leading ARIZ partner bank in Senegal. Since 2005, 454 companies have benefited from this programme, particularly in the trade, transport, and agriculture sectors.

This new ARIZ portfolio guarantee will cover up to 50% of the bank's loans to local SMEs to support their development, thereby promoting job creation and economic growth in the country.

"Proparco is pleased to reinforce its successful collaboration with Société Générale Senegal, a long-term partner of the AFD Group, for the benefit of Senegalese SMEs. The dynamism of the Senegalese economy is an opportunity to strengthen financial inclusion and bank coverage of SMEs. By supporting their development through our partner Société Générale Sénégal, we are implementing Proparco's new 2023-2027 strategy to promote entrepreneurship and reduce socioeconomic inequalities.”
Pierre Maspoli, Head of Dakar Office of Proparco

"We are delighted to be continuing our collaboration with Proparco-AFD, which is a guarantee of access to finance for SMEs on the African continent. This partnership, renewed every year for almost 20 years, confirms our position as a leading financier of the Senegalese economy.”
Harold Coffi, Managing Director of Société Générale Sénégal