West African financial initiatives target agricultural credit and SME growth

In Guinea, the Fonds de Garantie des Prêts aux Entreprises (FGPE) and ECOBANK Guinée have signed a strategic partnership to improve credit access for the agricultural sector. This initiative utilizes the Partial Credit Portfolio Guarantee mechanism, established under the World Bank-funded Commercial Agriculture Development Program in Guinea (PDACG), to support economic operators who lack sufficient collateral.

In Senegal, the WE! Fund, a subsidiary of FONSIS focused on female entrepreneurship, has invested a total of 1 billion FCFA into two small and medium-sized enterprises (SMEs). The funds will support Mayawa Agro-Industrie in Touba, which plans to install an automatic bottling line for its Aïnou mineral water brand, and Amar Bio Solutions in Sandiara, which produces plant-based hygiene products. These investments aim to scale industrial production and are expected to create approximately 200 direct jobs.