AFD, BOA Bolster African SMEs

The French Development Agency, or AFD, and the Groupe Bank of Africa, or BOA, are teaming up to assist professionals and small and medium-sized enterprises in Africa.

Under the agreement between the two agencies, AFD will guarantee up to 50 percent of risks carried by sub-Saharan African banks in the BOA network “in their activity of financing entrepreneurs” through a financing package worth about USD34 million, according to a press release by AFD.

About the author

  • Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.