BADEA provides Togo $16m to support SMEs

Togo and the Arab Bank for Economic Development in Africa (BADEA) signed Thursday a $16 million loan earmarked to provide support for the West African country’s Small and Medium Enterprises (SMEs).

Togo’s Finance Minister Sani Yaya and the BADEA President Sidi Ould Tah inked the financing deal on the sidelines of the ongoing Africa SME Champions Forum in Lome, the Togolese capital.

Victoire Dogbe, Togo’s Premier welcomed the signing and invited SMEs to tap into the financing.

“I call on SMEs to mobilize to benefit from it,” she said on X (former Twitter).

The Khartoum-based institution is also set to provide additional $310,000 to supplement the financing package.

The AFRICA SME CHAMPIONS FORUM is the foremost gathering dedicated to supporting the growth of African SMEs. It brings together nearly 500 participants, including Business Leaders, financial institutions, a selection of start-ups and experts in SME development, in a 2-day exchange that fosters new bottom-up practical and operational solutions to the financing and growth challenges faced by SMEs in Africa, the organizers say.

Launched in 2014, the summit seeks to improve the SME landscape and providing growth support to SMEs – the engine of the African economies.
The BADEA is key partner of the event.