Robert Ahomka Lindsey (2nd left-Right), Hakim Ouzzani (MD) and Alexander Maymatt
Societe Generale has announced that it will create Small and Medium-scale Enterprises (SMEs) centres across Africa to boost development on the continent.
Speaking at the stakeholders’ engagement last Friday in Accra, Alexander Maymatt, Head of the Africa, Mediterranean Basin & Overseas Region of Societe Generale, said infrastructure financing would be a key aspect of development in Africa and may include transport, water and waste management, as well as the development of smart cities.
According to him, Societe Generale has plans to double its workforce dedicated to structured financing by the end of 2019 and expand financial commitment related to structure finance in Africa by 20 percent over the next three years.
“The bank also hopes to provide access to a range of banking and non-banking services to about one million farmers in the next five years, which could be possible by YUP, including the online mobile money platforms of the bank that brings finance to the doorsteps of everyone.”
He said that about 80 percent of the African population remain unbanked, adding that microfinance remains crucial to integrating such section of the population that have not accessed the traditional banking system.
Indicating that SG’s experience in Ghana is an exciting one, Mr Maymatt explained that the country is fast developing.
“Clients are finding in Ghana their own way to consume banking products and services, and we believe our unique positioning which combines knowledge of the local economies and the expertise of the international banking group are key to supporting the country’ development,” he added.
Deputy Minister of Trade and Industry, Robert Ahomka Lindsey, urged the management to take advantage of the business opportunities in Ghana to help government tackle the high unemployment rate in the country.
Mr Ahomka Lindsey said “we have to add value to our products, and that is why government is much concerned about the One District, One Factory’ project and we hope SG will play its part.”