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Signature des garanties ARIZ et EURIZ
Proparco has allocated a EURIZ portfolio guarantee to its longstanding partner Société Générale Senegal to facilitate access to credit for MSMEs during the Covid-19 crisis.
Client presentation

SGSN – Société Générale Senegal (formerly SGBS – Société Générale des Banque au Sénégal) is a longstanding partner of AFD Group. It is a universal bank incorporated under Senegalese law set up in 1964. SGSN is the second largest bank in Senegal and one of the oldest. It has a dominant position in the banking industry with its 177,000 clients (including 2,000 companies), some 40 branches covering the most populated areas of the country and 850 employees.

Project description

The allocation by Proparco of a EUR 1.5m EURIZ portfolio guarantee to SGSN will allow the bank to develop the allocation of medium/long-term loans to Senegalese MSMEs that have a strong impact on development, which is central to Société Générale Group’s “Grow With Africa” strategy. Launched in May 2019, with support from the European Union, European Development Fund and African, Caribbean and Group of Pacific States (ACP), the EURIZ guarantee aims to facilitate access to credit for MSMEs, especially in sectors that have a strong impact on development, in order to help them play their essential role in economic growth and job creation.  

Project impact

This operation demonstrates Proparco’s priority of supporting the private sector in Senegal, especially in high-impact sectors.

Download the project sheet

This project is carried out with the support of the European Union and Organization of African, Caribbean and Pacific States (OACPS)
02/12/2021
Date of signature of the project
Banks and Financial services
Sectors
Senegal
Location
Guarantee
Financing tool
1 500 000 Euros
Amount of funding
CFA 983,935,500 Guarantee
Financing details
EURIZ guarantee
financing program
SGSN
Client
CSN1700
Project number

The content of this project information sheet falls under the sole responsibility of the Proparco and does not necessarily reflect the opinions of the European Union and the African, Caribbean and Pacific Group of States (ACP Group).


This information is given at the time of signature, without prejudice to any developments in the operation/project 

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