AfDB and Bank of Africa SA Partner in €50 Million Agreement to Boost SME Growth

The African Development Bank (AfDB) and Bank of Africa SA have inked a €50 million risk-sharing agreement to enhance private-sector financing and bolster African trade. 

The signing, held during the Africa Investment Forum (AIF) Market Days in Rabat, marks a significant milestone in fostering economic growth across the continent.

This partnership is poised to catalyze up to €200 million in additional trade finance for SMEs in sectors like agriculture, pharmaceuticals, automotive, transport, and telecommunications. 

The initiative spans over 20 African nations, including transition economies, empowering businesses to expand their international operations.

Ahmed Rashad Attout of AfDB emphasized the shared commitment to strengthening financial inclusion for SMEs. 

Khalid Nasr of Bank of Africa SA echoed this sentiment, highlighting the agreement’s role in facilitating access to finance and driving sustainable, inclusive growth in Africa.