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EURIZ guarantee to Société Générale Moçambique to support local SMEs
Project
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Signature date
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Location
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Mozambique
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Financing tool
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Financing amount (Euro)
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3000000
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Financing details
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Guarantee of MZN 274,218,060
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Customer
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Société Générale Moçambique
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Type of customer
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Financial institution
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Project number
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CMZ1179
This project is carried out with the support of the European Union and Organization of African, Caribbean and Pacific States (OACPS).
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 and the ACP Group. This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco has allocated a EURIZ portfolio guarantee to Société Générale Moçambique to allow the bank to continue to support the private sector, especially women entrepreneurs and the agriculture sector.
Client presentation
Banco Société Générale Moçambique is still a relatively new player on Mozambique’s banking market. In just five years, it has already started to establish a foothold. The bank aims to become the market leader, in particular by supporting SMEs. AFD Group and Société Générale Group are longstanding partners in Africa. This is the first operation with Société Générale’s Mozambican subsidiary.
Project description
Proparco’s allocation of a EUR 3m EURIZ portfolio guarantee to Société Générale Moçambique will allow the bank to increase its SME financing activity. The guarantee will make it possible to share the risk related to financing microenterprises and small and medium-sized enterprises (MSMEs), which will increase the bank’s capacity to finance the local economy. MSMEs owned by women or operating in the agriculture sector will be specifically targeted.
Project impact
This operation reflects Proparco’s priority of supporting the private sector in fragile countries, especially in high-impact sectors. This project is contributing to promoting gender equality by supporting women entrepreneurs (SDG n° 5 – Gender equality).