FAGACE AND THE BSIC GROUP PROVIDE A SOLUTION
On Monday December 31, 2018, the Managing Director of the Fonds Africain de Garantie et de Coopération Economique (FAGACE), Ms Minafou Fanta COULIBALY-KONE and the Chairman of the BSIC Group, Mr Ali Omar ALMOKTAR signed a partnership framework agreement between the two Institutions.
This framework partnership agreement aims to strengthen the cooperative relationship between the two institutions, whose mission is to contribute to financing the economies of the countries in which they operate.
In addition, it offers an appropriate solution to the guarantee problem often encountered by SMEs/SMIs when financing their activities through bank loans. Indeed, with this agreement, BSIC Group subsidiaries will be able, in the short and medium term, to finance projects by sharing the risk with FAGACE.
Finally, it should be emphasized that in the current context of Basel 2 Basel 3 implementation, the framework agreement signed will contribute to resolving the problem of hedging counterparty exposures at Group subsidiary level.
FAGACE is an approved multilateral guarantor that plays a key role in mobilizing credit, particularly for SMEs.
