The Central Guarantee Fund (CCG) won the Silver Award for Best Small Business Bank of the Year in Africa, awarded by the International Finance Corporation (IFC), a member of the World Bank Group.
The award ceremony took place yesterday on the sidelines of the prestigious SME Finance Forum, which is holding its 5th edition in Amsterdam from 7 to 9 October under the theme: “The convergence of the authentic and financial sectors of SMEs”, in the presence of some 600 participants representing more than 280 institutions from 75 countries.
This award recognizes the most active financial institutions in terms of the financial inclusion of SMEs, particularly in Africa and the MENA region. As a result, the CGC has been selected from among 144 financial institutions around the world for, among other things, the efficiency of its strategy, its positioning targeting the SME, its openness to other markets through its innovations in terms of new solutions in financing of the TPME and startups.
Following this recognition, Mr. Hicham ZANATI SERGHINI, General Director of the CGC said at the ceremony: “It is an honor for the CGC and all the funding actors in Morocco to receive this award. This is a testament to the success of the CGC’s business model, which aims to develop more additionality and impact on the Moroccan entrepreneurial fabric. We are constantly innovating to best meet its diverse financing needs.”
It should be recalled that the CGC is a credit institution assimilated, under the supervision of the Minister of Economy and Finance, whose role is to work with other players in financing to facilitate access to SMEs and start-ups, to financing. The intervention of the CGC takes various forms, mainly guarantee tools, but also credits, the financing of the balance sheet and secondarily direct aids.