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Emergency loans to SMEs with Société Générale Cameroon
Project
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Signature date
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Location
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Cameroon
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Financing tool
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Financing amount (Euro)
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3000000
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Financing details
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XAF 1,967,871,000 guarantee
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Customer
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SGC
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Type of customer
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Financial institution
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Project number
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CCM1708
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco has partnered with Société Générale Cameroon to support Cameroon’s SME fabric affected by the economic crisis.
Client presentation
Société Générale Cameroon (SGC) was formed through the takeover of Banque Commerciale Africaine by Société Générale Group in 1947. SGC is a universal bank with a network of 36 branches located in 10 regions in Cameroon.
Project description
Proparco has signed a partnership with SGC, on behalf of AFD, under the Choose Africa Resilience program. The objective is to allow SGC to offer up to XAF 1,967,871,000 (EUR 3m) of emergency loans to small and medium-sized enterprises affected by the economic consequences caused by the Covid-19 pandemic.
Project impact
Once the financing requests have been examined by SGBC, companies with less than 250 employees affected by the pandemic may be allocated loans with maturities ranging between 12 and 60 months. This countercyclical solution will allow SGBC to maintain financing flows to SMEs, the central link in Cameroon’s economy.