The Gabon Guarantee Company (SGG) and the Gabon Agriculture and Livestock Company (SAEG) signed a memorandum of understanding on September 30, 2024. This strategic partnership, supported by the Gabonese Strategic Investment Fund (FGIS), aims to facilitate rural entrepreneurs’ access to suitable financing, by strengthening the financial security of agricultural and livestock projects in Gabon.
The signing of the memorandum of understanding between the Société de Garantie du Gabon (SGG) and the Société d’Agriculture et d’Élevage du Gabon (SAEG) marks an important step in supporting the agricultural and livestock sector in Gabon. This initiative, led by Okoumé Capital under the aegis of the Gabonese Strategic Investment Fund (FGIS), aims to improve rural entrepreneurs’ access to financing adapted to their projects, thereby strengthening their financial security in the face of risks.
“This partnership represents a turning point for the financial inclusion of a sector often left on the sidelines by traditional banks. By supporting rural entrepreneurs, we are committed to removing the financial barriers that hinder their development, thereby strengthening the local economy. This is a paradigm shift that will contribute to having a positive and sustainable impact on national agriculture,” said Alban Etho, CEO of SGG.
Officialized on September 30, 2024, this partnership demonstrates the commitment of the parties to promote food self-sufficiency and the resilience of the Gabonese agricultural sector. Thanks to the collaboration with the financial institutions EDG and SODEC, well established locally, the financial barriers faced by farmers and breeders are reduced. As a result, SAEG will be able to expand its activities and contribute to the development of the country’s agricultural economy.
“Through this collaboration, we aim to drive sustainable growth dynamics by supporting agricultural and livestock activities that are at the heart of the development of our regions. By creating job opportunities, particularly for young people, we hope to contribute to strengthening Gabon’s food self-sufficiency while stimulating the rural economy ,” said Aubert Ndjila, Director General of the Gabonese Agriculture and Livestock Company (SAEG). According to him, this inclusive development model ensures concrete impacts for Gabonese communities.
The SGG already has a notable impact, having supported 152 SMEs/SMIs as of June 30, 2024, by issuing portfolio guarantees worth 7.1 billion FCFA. Of these amounts, 5.9 billion have generated more than 16 billion in financing for businesses. This dynamic reinforces the importance of collaboration between public and private actors for the development of key sectors of the Gabonese economy.