Proparco has just allocated a portfolio guarantee to United Bank for Africa (UBA) to facilitate access to loans for Nigerian SMEs. Proparco’s operation will specifically contribute to financing SMEs in the education sector and SMEs set up by women.

Small and medium-sized enterprises account for almost half of Nigeria’s GDP. Despite their importance for the economy, less than 20% of them benefit from a loan or credit line from a financial institution. SMEs are therefore largely left out of Nigeria’s traditional financial circuits, due to the lack of financial resources and solutions tailored to their needs. These companies often have to turn to informal sources of financing or self-financing that is unsuitable for balanced development.
Read more...https://media.getfundedafrica.com/2021/01/22/uba-nigeria-gets-assurance-from-proparco-to-support-smes/