Proparco and Société Générale Senegal reaffirm their joint commitment to financing Senegalese MSMEs

As a long-standing partner of Proparco and the first bank to deploy the ARIZ guarantee mechanism in Senegal as early as 2005, SGSN is once again affirming its leading role in supporting the local entrepreneurial fabric. By reducing the risks associated with MSME financing, this ARIZ partnership enables Société Générale Senegal to continue reinforcing its commitment to this segment, building on previous initiatives such as the ENVOL Fund and the Maison de la PME, both launched in 2018.

Backed by the AFD Group and implemented by Proparco, the ARIZ scheme is a partial credit risk guarantee that can cover up to 50% of a loan portfolio for the partner bank. It is designed to encourage financial institutions to expand their credit offerings to MSMEs, a key driver of more inclusive and sustainable growth. Since 2019, Proparco has signed four portfolio guarantees with SGSN, supporting nearly 200 MSMEs in Senegal and helping to preserve over 1,700 jobs and create 200 new positions.

This operation also aligns with the French Choose Africa initiative, which reflects France’s commitment to actively supporting African entrepreneurship and fostering a dynamic private sector across the continent. The guarantee will also directly contribute to Proparco’s Strategic Objective no. 1, “Invest in a sustainable and resilient economy”, as well as Sustainable Development Goal no. 8: “Decent work and economic growth”, by supporting the preservation of thousands of jobs in Senegal.

“The partnership between Proparco and Société Générale Senegal is a historic one and has accelerated the financing of numerous SMEs thanks to the portfolio guarantee – an effective financial instrument for mitigating credit risk. SMEs, in addition to driving growth in the Senegalese economy, are led by women and men who make a strong impact on their communities. By financing them, Proparco and SGSN also promote domestic economic activity,” said Harold Coffi, Chief Executive Officer of Société Générale Senegal.

“This new operation demonstrates the strength of our partnership with Société Générale Senegal and our shared ambition to support the growth of SMEs – true pillars of economic development and job creation in Senegal. Through this guarantee, we are strengthening financial inclusion and helping to build a more resilient, dynamic and equitable Senegalese economy,” said Moustapha Ibrahim Malloum, Deputy Regional Director for West Africa at Proparco.