• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Mauritania: AfDB Approves €25.5 Million Trade Finance Facility to Support SMEs and Women Entrepreneurs

1 month ago
in Business, Features, highlights, Home, home-news, latest News
2 min read
0 0
0
20
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Mauritania: AfDB Approves €25.5 Million Trade Finance Facility to Support SMEs and Women Entrepreneurs

The Board of Directors of the African Development Bank Group has approved a €25.5 million trade finance facility for the Générale de Banque de Mauritanie (GBM) to enhance its financial offerings to large corporates, small and medium-sized enterprises (SMEs), and women-led businesses in Mauritania.

The package includes a €15 million trade finance line of credit, a €5 million trade finance guarantee and a €500,000 grant under the Bank’s Affirmative Finance Action for Women in Africa (AFAWA) initiative through the Women Entrepreneurs Finance Initiative (We-Fi). It also comprises an additional $5 million in co-financing from the Africa Growing Together Fund (AGTF), a facility jointly established by the African Development Bank and the People’s Bank of China.

The facility aims to bolster Mauritania’s economy by facilitating the import of equipment in priority sectors such as renewable energy, fisheries, agriculture, infrastructure, light manufacturing, telecommunications, and essential goods to meet immediate domestic needs. It will primarily benefit SMEs and large local businesses, including those owned or led by women.

“This partnership—the second of its kind with Générale de Banque de Mauritanie—provides essential financial resources to improve the bank’s trade finance offering for SMEs and other enterprises,” said Ahmed Attout, Director of the Financial Sector Development Department at the African Development Bank. “The trade finance guarantee will allow the Bank to provide up to 100% coverage to confirming banks, enabling them to confirm letters of credit and similar trade finance instruments issued by GBM. This will be complemented by the line of credit, which will inject vital liquidity into the system,” he explained.

Leila Boumatou, CEO of GBM, welcomed the second partnership with the Bank Group, she said: “This initiative goes beyond financial progress—it is a real lever for inclusive growth. It empowers our entrepreneurs, particularly women, to turn local ambitions into tangible outcomes. The facility will allow us to bridge a structural financing gap and translate financial instruments into real impact—supporting women-led SMEs, fostering industrial innovation, and helping build a more resilient Mauritanian economy,” she stated.

Malinne Blomberg, Deputy Director General for North Africa at the African Development Bank Group, affirmed that the operation aligns with the Bank’s objective to scale up direct support to the private sector in Mauritania. “This facility will strengthen GBM’s ability to support Mauritania’s economy, stimulate local productive sectors, and drive economic growth while creating and sustaining thousands of jobs,” she noted.

RelatedPosts

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

About Générale de Banque de Mauritanie (GBM)

GBM is a systemic financial institution in Mauritania, exclusively dedicated to financing SMEs and companies operating in key economic sectors. With a team of 115 staff, equity of €68 million, and a total balance sheet of €209 million, the bank serves a portfolio of 1,300 business clients and is particularly active in international trade finance. GBM is the only bank in Mauritania led by a woman.

Tags: AfDBMauritania: AfDB Approves €25.5 Million Trade Finance Facility to Support SMEs and Women EntrepreneursSMEsWomen entrepreneurs

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

Banking Sector Soundness Remains Robust in 2024 Amid Strong Profitability, Adequate Capital Buffers

Sha’Carri Richardson Withdraws from US Trials Following Arrest

From Singuluma to El Kaabi: Can CHAN 2024 Unleash the Next Hat-trick Hero?

Ghana to Welcome King’s Baton Relay on August 8 Ahead of 2026 Commonwealth Games

Trending

Features

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes

August 2, 2025

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes Parliament has adjourned...

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

August 2, 2025

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

August 2, 2025

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

August 2, 2025
Bank of Ghana

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

August 2, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.