How do you deploy your support for SMEs in C\u00f4te d\u2019Ivoire?<\/strong><\/p>\n SGCI deploys its \u201cPush SME\u201d mechanism based on three areas:<\/p>\n The idea is to provide financing solutions that are not only based on the balance sheets of SMEs, but also take into account the overall environment and reality of the company. We have developed a special financing program called \u201cProduct Program\u201d for (or targeting) our SMEs that generally operate in informal environments. This program takes into account not only the performance of the SME, but also its portfolio and analyzes its track record. The objective is ultimately to allocate loans to SMEs taking into account other criteria than the balance sheet.<\/p>\n When they open an account, SMEs benefit from this range of services, which also facilitates their decision-making and allows them to better meet the needs of their partners.<\/p>\n The Maison de la PME was set up in September 2019. PROPARCO was invited to the opening of this center. Since then, we have been receiving clients, prospective clients, partners and so on every day. A lot of training sessions are organized there by partners, such as the Chamber of Commerce and Industry, the audit firms Ernst & Young, Mazars, Deloitte, etc., to help local companies build their expertise. An SME that has developed this expertise will more easily access our financing.<\/p>\n What is PROPARCO\u2019s role in this Maison de la PME? <\/strong><\/p>\n This Maison de la PME also operates like a bank branch. As a partner, PROPARCO helps us by providing guarantees, such as ARIZ \/ EURIZ, to facilitate access to financing for SMEs. We are also currently in discussions with PROPARCO\u2019s teams over setting up training programs to build the expertise of SMEs and increase their access to financing.<\/p>\n Is the \u201cPUSH SME\u201d program part of the Choose Africa initiative?<\/strong><\/p>\n Yes, absolutely. This leads to the provision of guarantees<\/strong> that will allow SMEs to access financing. These guarantees, such as ARIZ and EURIZ, have allowed us to support a very large number of SMEs by financing equipment, machines, the construction of plants, etc. Today, with Choose Africa, we are continuously developing products to allow SMEs to benefit from our financing on a daily basis. \u00a0 We have also recently developed the new Trade Finance guarantee with PROPARCO. It offers SMEs the possibility of benefiting from \u201csignature commitments\u201d financing, such as letters of credit, SBLC, guaranteed drafts and securities. They allow them to secure their international purchasing operations and\/or access markets. We have many SMEs that import equipment from France, for example. They use letters of credit to pay their suppliers abroad. These letters of credit are signature commitments that guarantee the SME\u2019s payment. We have set up this Trade Finance guarantee with PROPARCO. It covers 50% of the bank\u2019s risk exposure on the transaction. This guarantee facilitates access to this type of financing for a larger number of SMEs without mobilizing liquid collateral beforehand. With the current economic situation marked by a negative trade balance, this type of support product\/tool has a very strong impact on the lives of local SMEs. An average of FCFA 200m to FCFA 1.2bn can be mobilized to cover a risk with PROPARCO\u2019s tools.<\/p>\n\n
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