Investment bank Societe Generale secures US$3.6m loan from Proparco to support SMEs in Mozambique

MOZAMBIQUE – Proparco, the private arm of the French Development Agency (AFD), has pledged a guaranteed loan of €3 million (US$3.6 million) to French multinational investment bank and financial services company Société Générale’s subsidiary in Mozambique to support small and medium-sized enterprises (SMEs). The guarantee will target companies operating in high-impact sectors, with a focus on agribusiness. The agreement will also support women-owned businesses. “Proparco is pleased to be able to count on a key partner like Société Générale to support SMEs in a country where financial inclusion remains a huge…

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Cameroon secures US$18M new joint initiative from EIB and Société Générale

CAMEROON – Société Générale, a French multinational investment bank and financial services company, and the European Investment Bank (EIB) have announced an agreement of a 10 billion FCFA (US$18.09 million) new joint initiative to support economic development across Cameroon. The initiative will include working capital, enable increased backing for investment projects and include more flexible disbursement conditions to reflect the acute and sudden challenges facing African business. The scheme is available immediately and will be managed by Société Générale in Cameroon. “This new credit line will unlock investment and support…

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