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Caixa Geral de Depósitos joins Proparco’s Trade Finance Program to strengthen trade flows across Africa

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Proparco is pleased to announce that Caixa Geral de Depósitos (CGD), Portugal’s leading financial group, has joined its Trade Finance Guarantee Program as a confirming bank. This new partnership will help expand Proparco’s network across Portuguese-speaking Africa and promote sustainable trade between Africa, Europe, and other emerging regions.

Founded in 1876, CGD is a cornerstone of the Portuguese banking system and operates in 20 countries, including a strong presence in Europe (France, Spain) and Africa (Angola, Mozambique, Cape Verde, São Tomé and Príncipe). 
With a long-standing expertise in trade finance, CGD has been at the forefront of innovation in the sector. The bank maintains a wide network of subsidiaries and correspondent banks across Africa, where it plays a leading role as a confirming institution.
By joining Proparco’s Trade Finance Program, CGD will be able to enhance its support to African importers and exporters by facilitating access to affordable guarantees and reducing transaction costs. The partnership will also strengthen CGD’s ability to mobilize its subsidiaries and network partners to foster greater economic integration across the continent.

The signing of this agreement marks the continuation of a strong institutional relationship between CGD and PROPARCO, which we have been developing over recent years, and reaffirms our commitment to support the international expansion of our corporate clients. This initiative will facilitate the promotion of Portuguese companies’ exports to African markets—particularly Mozambique, Angola, and Cape Verde—thus strengthening commercial ties with Portuguese-speaking African nations.

Francisco Cary

  • Executive Board Member, CGD

We are delighted to welcome Caixa Geral de Depósitos to our Trade Finance Program. As a leading Portuguese bank with deep roots across Africa, CGD brings strong expertise and a powerful network that will help scale up the program’s reach. This partnership will promote the use of Proparco’s guarantees among CGD’s subsidiaries and African counterparties, supporting local banks and SMEs in their access to essential goods and equipment.

Gonzague Monreal

  • Head of Financial Institutions at Proparco

Through partnerships with institutions like CGD, Proparco continues to expand its Trade Finance network to foster sustainable economic growth in Africa. By reducing the risks and costs associated with trade operations, the program helps bridge financing gaps, promote local value creation, and strengthen commercial ties between Africa, Europe, and other developing regions.

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