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Portfolio guarantees to support Guinea’s private sector
Project
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Signature date
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Location
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Guinea
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Financing tool
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Financing amount (Euro)
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5000000
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Financing details
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ARIZ guarantee for GNF 37,498,628,640 and EURIZ guarantee for GNF 9,374,657,160
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Customer
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VISTAGUI SA (Ancienne BICIGUI)
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Type of customer
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Financial institution
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Country of headquarters
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Guinea
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Project number
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CGN1345 / CGN1344
This project is carried out with the support of the European Union.
The content of this project information sheet falls under the sole responsibility of the Proparco and does not necessarily reflect the opinions of the European Union. This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco has allocated two portfolio guarantees to VistaGui to support the bank’s SME lending activity. The objective is to support the private sector in Guinea, especially in high-impact sectors.
Client presentation
Founded at the end of 1985 under the name Banque Internationale pour le Commerce et l’Industrie de la Guinée (BICIGUI), the bank was a subsidiary of BNP Paribas Group until June 2021 and its takeover by the Vista Bank Group. The bank now operates under the name VistaGui.
It is considered the leading bank in the country in terms of the size of its network. It is the second largest in terms of the size of its balance sheet and its contribution to financing the national economy, and third in terms of the country’s collection. It has 82,000 clients (figure stable since 2018) and at year-end 2021, the bank had 320 employees.
Project description
The project involves the allocation of two ARIZ and EURIZ portfolio guarantees.
The ARIZ guarantee aims to share the credit risk taken by VistaGui on the SME segment through lending operations and thereby enable the bank to develop its credit activity on this segment.
The EURIZ guarantee, which benefits from the support of the European Union, aims to support the business growth of Guinean high-impact small and medium-sized enterprises (SMEs): green SMEs and start-ups less than three years-old, SMEs owned by women or young people (<25 years-old) and SMEs operating in the agriculture, health, education and digital sectors.
Project impact
The ARIZ guarantee automatically covers 50% of each loan allocated by the bank to eligible SMEs during the two years of allocation, meeting the criteria for the amount and maturity.
The EURIZ guarantee automatically covers 70% of each loan allocated by the bank to eligible SMEs during the two years of allocation, meeting the criteria for the amount and maturity in the sectors eligible for EURIZ.