Senegal – Entrepreneurship – Financing

Senegal launches new initiative for SMEs’ access to credit

APA-Dakar (Senegal)

The Business Upgrading Bureau (BMN) and the Bank for Trade and Industry of Senegal (BCI) have recently signed a partnership to support start-ups.

The agreement signed last Thursday between the BMN and the BCI-Senegal aims on the one hand to enable BCI client companies eligible for the BMN's upgrading programme to benefit from non-financial support necessary to improve their organisation/management and strengthen their competitiveness.

 On the other hand, it aims at facilitating access to bank financing for the development of their activities for enterprises that have benefited from the BMN programme. 

The latter will thus be able to benefit from a guarantee of between 50% and 70% of the amount of their credit.

 This facility was made possible thanks to a portfolio guarantee made available to the BCI-Senegal by the African Guarantee Fund (AGF), a subsidiary of the African Development Bank (AfDB).

 


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