April 20, 2024

Banks and other financial institutions in Nigeria and a couple of other African countries may now be set for improved security in lending to micro, small and medium enterprises as another super-financial guarantee to secure the loans is underway.
The African Guarantee Fund (AGF) for Small and Medium-Sized Enterprises (SMEs), has entered into a re-guarantee transaction of up to $74million with GuarantCo, to increase its guarantee capacity for SME financing.
SMEs have a large and growing impact on GDP in emerging markets, and are a key source of job creation. With this increased capacity, AGF will be able to support larger local currency transactions for SMEs involved in infrastructure.
AGF affirmed that strengthening Africa’s infrastructure is critical for development, as it is through this that African countries become more competitive at a global level.
Over the past six years, AGF has led the guarantee market in Africa by issuing financial guarantees to a tune of $690million.
This has enabled its partner financial institutions to issue loans estimated at $729 million to about 7600 African SMEs.
GuarantCo is part of the Private Infrastructure Development Group (PIDG). It is a global guarantee fund that has issued over $900million of guarantees since inception in 2005, with a mandate to enable local currency finance for infrastructure.
While commenting on the GuarantCo AGF partnership, Felix Bikpo, its Chief Executive Officer, said: “AGF is glad to be joined by GuarantCo in bridging the infrastructure financing gap. This partnership aims to put in place an even stronger collaboration that will work on the entire value chain of infrastructure projects in Africa. We are looking forward to supporting other SMEs that work with key players in the infrastructure sector“.
Lasitha Perera, GuarantCo’s Chief Executive Officer, said: “We are delighted to be able to partner with the African Guarantee Fund, and increase support to SMEs active in the infrastructure sector in Africa.
“This collaboration between two local currency focused guarantors offers the potential for us to engage local financial institutions and investors in financing the entire value chain in an African infrastructure project.“
The transaction will enable AGF and GuarantCo to explore further partnership opportunities of working together in contributing towards economic growth in Africa.

738 thoughts on “Nigerian, African Lenders To SMEs Benefit From $74m Facility”

  1. I simply want to mention I am new to blogs and certainly liked you’re web blog. Very likely I’m going to bookmark your blog . You certainly come with beneficial posts. With thanks for sharing your web page.

    Reply

  10. 777190 694042When I originally commented I clicked the -Notify me when new feedback are added- checkbox and now every time a remark is added I get four emails with the same comment. Is there any approach you will be able to remove me from that service? Thanks! 733298

    Reply

  13. 386816 561776Hi, you used to write excellent articles, but the last several posts have been kinda boring I miss your tremendous posts. Past couple of posts are just just a little out of track! 299837

    Reply

  18. The assignment submission period was over and I was nervous, safetoto and I am very happy to see your post just in time and it was a great help. Thank you ! Leave your blog address below. Please visit me anytime.

    Reply

  19. 23450 673506So could be the green tea i buy in cans the same as the regular tea youd buy to put in your morning cup? Ive been told is just normal green tea made to be cooler, but does it have any affect as far as not speeding up your metabolism as rapidly as normal hot green tea? 848733

    Reply

  21. 297430 927261Hello there. I required to inquire some thingis this a wordpress web site as we are thinking about transferring across to WP. Moreover did you make this theme all by yourself? Cheers. 279095

    Reply

  22. 991257 13571Heya! I just wanted to ask if you ever have any problems with hackers? My last blog (wordpress) was hacked and I ended up losing many months of hard work due to no backup. Do you have any methods to protect against hackers? 131746

    Reply

  46. Comprehensive side effect and adverse reaction information. Read now.
    stromectol cvs
    Some are medicines that help people when doctors prescribe. Some are medicines that help people when doctors prescribe.

    Reply

  56. Top 100 Searched Drugs. Learn about the side effects, dosages, and interactions. https://avodart.science/# can i order avodart without dr prescription
    Prescription Drug Information, Interactions & Side. п»їMedicament prescribing information.

    Reply

  74. earch our drug database. Learn about the side effects, dosages, and interactions.
    https://edonlinefast.com new treatments for ed
    Some are medicines that help people when doctors prescribe. What side effects can this medication cause?

    Reply

  551. Back before the 2017 changes that meant operators started having to pay tax on no deposit offers, many more UK slot sites featured a no deposit bonus as it didn’t cost them anything unless the player managed to play through the (usually extortionate) wagering requirements and turned winnings to withdrawable cash. Now, operators have to be a bit more careful about no deposit slots offers and no deposit spins because if lots of players take up the offer but never go on to deposit and play wth real money, it can get very expensive for the casino. What’s the catch you might ask? Well, wagering requirements will mean that you will not be able to withdraw any money you win immediately. Instead, you will have to spin a certain number of times more to qualify for a withdrawal. And most slot sites will also require you to make a deposit and wager at least a portion of your real money, which will then allow you to withdraw some bonus money as well.
    http://drtax.kr/bbs/board.php?bo_table=free&wr_id=197709
    Slots Empire is another excellent online slots site where you can play slots for real money. The desktop site is quite simple and all of the slots games are optimized for mobile devices as well. This means you can play at any time no matter where you are. SLOTS TO TRY FOR A DEMO PLAY OR REAL MONEY AT SLOTS EMPIRE CASINO Yes, we’ve already mentioned Slots Empire’s no-deposit bonus quite a few times by now. You can enter the code FREEBANDITS to claim 30 no-deposit free spins on the slot Cash Bandits 3. The ambitious name of Slots Empire may not get reflected in the number of games. Still, the online casino has the quality to rival other well-respected gambling sites. The promotional section keeps gamers stimulated with recurring bonuses. And the banking options cover the full spectrum of relevant providers. It’s one of those platforms where US players can feel right at home.

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

Related News

Shehu Malami wife drags family members to court over inheritance

April 17, 2024 24

NEC Meeting; we’ll remain united and political stable – Party Chieftain

April 17, 2024 693