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AGF and SGG Strengthen their Partnership to Boost SME/SMI Financing in Gabon

The Société de Garantie du Gabon (SGG), a subsidiary of Okoumé Capital and an initiative of the Fonds Gabonais d’Investissements Stratégiques (FGIS), which enjoys the support of the highest Gabonese authorities, and the African Guarantee Fund (AGF) have signed a re-guarantee agreement for USD 10 million.

The purpose of the agreement is to strengthen SGG’s capacity to intervene by AGF setting up a counter-guarantee line. This facility will enable the Gabonese guarantee fund to improve access to credit for local SMEs, women entrepreneurs and green financing through its network of partner banks and microfinance institutions.

The signing of this agreement is the latest milestone in a strategic partnership between the two guarantee funds, which began with the creation of the SGG, and which AGF helped to operationalise.

At the signing ceremony, Alban Etho Zue, Managing Director of Société de Garantie du Gabon, emphasised the importance of this agreement for the entrepreneurial ecosystem in Gabon: “This agreement with AGF is much more than just a financial lever: it embodies our ambition to transform and structure the entrepreneurial landscape in Gabon and the sub-region. By strengthening the capacity of banks to finance SMEs, we are promoting job creation, economic development and social cohesion. Furthermore, we are aiming to gradually eliminate the highly restrictive collateral requirements that severely limit credit access for women entrepreneurs. This is a concrete commitment to inclusive growth and a prosperous future for our country and our sub-region.”

“This partnership is a major step that demonstrates our commitment to supporting local initiatives and strengthening the financial ecosystem in Gabon. By working with SGG, we are improving our ability to support financial institutions so that they can better support SMEs, which are recognized as the primary drivers of growth and job creation. We are convinced that this counter-guarantee agreement will help to strengthen SGG, transform the SME sector and accelerate Gabon’s economic development” said Jules NGANKAM, Group CEO of the African Guarantee Fund.