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    Cedi Depreciation: Government urged to enforce laws on pricing in dollars

    Assistant Director, Fintech and Innovation, BoG, Clarence Blay

    E-cedi will not affect MoMo business – Bank of Ghana

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    BoG to hold emergency MPC meeting on Wednesday

    BoG, EOCO deepen collaboration to build robust financial sector

    Recent downgrades by S&P, Fitch ratings on Ghana unfair – African Peer Review Mechanism

    Private sector critical to renewable energy target – Sector Ministry

    Cedi Depreciation: Government urged to enforce laws on pricing in dollars

    Gov’t must invest more resources into agriculture sector – Agribusiness Chamber

    Assistant Director, Fintech and Innovation, BoG, Clarence Blay

    E-cedi will not affect MoMo business – Bank of Ghana

    Farmers worried about possible unfair distribution of MoFA machines

    Coronation Insurance launches marine insurance e-portal for importers

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    BoG, EOCO deepen collaboration to build robust financial sector

    Cedi Depreciation: Government urged to enforce laws on pricing in dollars

    Assistant Director, Fintech and Innovation, BoG, Clarence Blay

    E-cedi will not affect MoMo business – Bank of Ghana

    Coronation Insurance launches marine insurance e-portal for importers

    Bank of Ghana to widen its scope on cryptocurrency

    Importers, Exporters Association calls for sympathy for Labianca following corruption claims

    BoG Deputy Governor chairs advisory board of UG’s College of Humanities

    GEXIM CEO is one of Ghana’s 100 most influential business leaders

    Zenith Bank Ghana wins premium quality West African banking brand of the year 2021

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    We’re ready to re-engage gov’t on acquisition of Vodafone shares – Telecel

    New deadline for SIM re-registration too short – MoMo agents association

    Extend SIM card re-registration exercise to January 2023 – MoMo agents

    Vodafone agrees sell stake in Ghana’s business to Telecel

    Telecoms Chamber and IIPGH advocate sustained coding education

    IIPGH to enter coding education partnership with Telecoms Chamber

    PayAngel joins Microsoft for Startups Founders Hub

    Node 8, HTU hold first edition of Node X in Ho

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

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    Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

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    African countries that could follow Sri Lanka into economic chaos

    Africa’s internet economy to cross $180 billion by 2025: Report

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

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Societe General Ghana partners AGF to provide financing solutions for SMEs

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Ghana’s Small and Medium sized business sector is set to receive a major boost as Societe Generale Ghana has signed a partnership agreement with the African Guarantee Fund to increase its financing support to SMEs through enhanced credit facilities.

The total guarantee facility of GHS35 million will enable the bank extend financial support to SMEs for which access to bank facilities is difficult.

Speaking at the signing event, Managing Director of Societe Generale Ghana, Hakim Ouzzani noted that the Facility will also enable the bank scale up lending to women and green businesses.

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“Considering the significance of SMEs to the economic development of Ghana, it is only right that we provide them with the necessary support through increased access to financing. After the signing of a USD50m 5-year credit facility arrangement with the IFC in 2020, which was partially disbursed in 2020 to finance SMEs, the creation of the SG Ghana Home of Business in 2019 – providing free advisory services and capacity building to SMEs, the signing of a previous risk sharing facility in 2020, and the creation of the innovation hub in 2022 to support start-ups, our bank is building a comprehensive set of tools to support SMEs in Ghana. And the results are tangible: our SME book has more than doubled in 3 years!” he said.

AGF West Africa Managing Director, Bendjin Kpeglo, highlighted the reasons for partnering Societe Generale Ghana.

“We are excited to partner with Societe Generale Ghana, which is strongly committed to growing its SME lending strategy. AGF has issued several Loan Individual Guarantee facilities directly to enterprises within the hospitality and agribusiness sectors in Ghana, but through this Loan Portfolio Guarantee Facility, we will now support SME lending on a much larger scale, which will indeed drive the economic growth of the country.” he said.

“Through the AFAWA Guarantee for Growth Program launched by the African Development Bank and our Green Guarantee Facility we will enable the bank to scale up lending to women and green businesses respectively, which are among our priority areas as we work towards fostering financial inclusion and sustainable development.

“This partnership will ensure livelihoods and opportunities within Ghana’s economy continue to accelerate and our commitment is to closely support the bank to continue working with SMEs, to finance them to recover and thrive, and where necessary transform and adapt their businesses to the changing environment and seize new business opportunities.” he added.

Source: Societe General Ghana
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