AFG Bank Guinée and Proparco mobilise €60 million to support SMEs and trade in Guinea

Proparco has granted AFG Bank Guinée a €35 million senior loan to finance small and medium-sized enterprises (SMEs), alongside a €25 million trade finance guarantee facility. The guarantees will cover international trade instruments issued by AFG Bank Guinée and support the expansion of its correspondent banking network.

Formerly Société Générale Guinée, the bank was acquired in August 2025 by AFG Holding, Atlantic Group’s financial services division, and now operates as AFG Bank Guinée. The third-largest bank in Guinea by total assets, it has traditionally had a strong presence in the large corporate segment and is now stepping up its expansion into the SME market.

The transaction also marks a new milestone in the relationship between Proparco and Atlantic Group. In May 2026, at the Africa Forward Summit in Nairobi, the two groups signed a long-term strategic partnership agreement to support key sectors of African economies, including financial services. The new financing in Guinea is the first transaction under this partnership at the level of a banking subsidiary.

Expanding access to finance for Guinean SMEs

The €35 million loan will support AFG Bank Guinée’s plans to double its SME loan portfolio from €60 million to €120 million by 2027 and triple the number of SME clients it serves. As part of this strategy, the bank plans to relaunch its “Maison de la PME,” a dedicated SME business centre, with additional staff and a broader range of services.

The strategy comes at a time when the development of the Simandou mining project is creating new opportunities and financing needs for local businesses involved in the project’s wider ecosystem. AFG Bank Guinée aims to support SMEs operating in transport, catering, energy and food supply, as well as industry and green energy.

Supporting international trade and strengthening access to international banks

The €25 million trade finance guarantee facility will also strengthen AFG Bank Guinée’s ability to finance international trade. Through Proparco’s programme, the bank will gain access to a network of partner confirming banks, helping it establish new international correspondent banking relationships and better support its clients’ import transactions.

Under the programme, when AFG Bank Guinée issues a trade finance instrument on behalf of a client, Proparco can provide a guarantee to the international bank confirming the transaction, covering the risk of default by AFG Bank Guinée. By reducing the exposure of these partner banks, the guarantees help facilitate transactions that might otherwise be restricted by risk limits or the absence of an established banking relationship.

The transaction builds on the continued expansion of Proparco’s Trade Finance programme across Africa. Its network grew further in 2025 and 2026 with the addition of new African and international confirmation banks. By facilitating trade between local banks and international partners, the programme helps secure access to essential supplies and enables African businesses to obtain the goods and equipment they need to grow and generate more value locally.

Supporting SMEs through Choose Africa

Both financing facilities are part of Choose Africa, the Agence Française de Développement Group’s initiative to support African start-ups, microenterprises and SMEs. They are expected to help sustain and create 3,766 direct and indirect jobs while improving access to the financing Guinean SMEs need to grow.

Proparco’s support also extends to environmental and social matters. A dedicated action plan will help AFG Bank Guinée continue strengthening its environmental, social and governance (ESG) practices and align them more closely with international standards as its business expands.

Sadio Dicko, Proparco’s Regional Director for West Africa, said:

“This agreement marks a new milestone in Proparco’s commitment to Guinea’s financial sector and to the entrepreneurs who drive the country’s economy. Together with AFG Bank Guinée, we are providing €35 million in financing for SMEs and €25 million in guarantees to support international trade. Our ambition is clear: to give Guinean businesses greater access to the resources they need to invest, grow and enter new markets, making a tangible contribution to more inclusive and sustainable growth that creates opportunities across Guinea.”

Karim Koné, Chief Executive Officer of AFG Holding, said:

“Signing this agreement with Proparco marks a major step forward for AFG Bank Guinée and Guinea’s wider business community. With our strengthened financial capacity, we are expanding our support for SMEs, backing key players involved in the Simandou project and boosting international trade. This partnership reflects the confidence placed in our bank and demonstrates our continued commitment to supporting the private sector.”