Morocco’s Fund CCG , Africa’s Best SME Bank in 2019
Moroccan public financial institution, Caisse Centrale de Garantie (CCG) has received the 2019 award of Best SME Bank in Africa at the 5th SME Finance Forum held in Amsterdam Oct. 7-9.
The award of the International Finance Corporation (IFC) recognizes the most active financial institutions in terms of SMEs financial inclusion, particularly in Africa and the MENA region.
It also celebrates financial institutions and fintech companies for their outstanding achievements in delivering exceptional products and services to their SME clients.
CCG won the award the efficiency of its strategy set for the promotion of SME and its opening onto other markets through new financing solutions for VSMEs and start-ups.
“It is an honor for CCG and all the financing actors in Morocco to gain this prestigious prize”, said Mr. Hicham Zanati Serghini, Director General of the fund.
“The award confirms the success of our business model and its positive impact on the Moroccan entrepreneurial sector”, he added, noting that CCG is constantly innovating to best meet SME diverse financing needs.
CCG is an assimilated loan institution, which works with other financing actors to facilitate SMEs and startups’ access to financing. CCG’s intervention takes various forms, mainly through guarantee tools, loans, equity financing and incidentally grants.
The goal of the SME forum, held in Amsterdam, is to expand access to finance for SME through a global network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs.