Societe Generale Cameroon (SGC) is positioned among the main banks that support economic agents to grow their activities. For the year 2020, the SGC granted 802 billion FCFA (1.4 billion euros) in credit, standing out as a leader in this business segment with 19.2% of the market share. Through a diversified financing approach, this bank provides support for the development of private public projects, in fields as varied as energy, transport, public finance, and agribusiness.
Over the past two years, the SGC has increased subscriptions on the government securities market, with a 500% increase in its interventions by ranking as the best Specialist in the value of the treasury (SVT). Its involvement in the development of SMEs (Small and medium-sized enterprises) is quite significant, which was reflected in particular with the opening of the Maison de la PME in 2019. This initiative has made it possible to provide specific training to more than 600 managers. companies in partnership with the Inter-employer Group of Cameroon (GICAM) and the French Development Agency (AFD) through PROPARCO, its subsidiary dedicated to the financing of private projects.
Although representing more than 90% of the economic fabric of the country for a contribution of more than 35% of the GDP (Gross Domestic Product), SMEs experience enormous difficulties in accessing bank financing. It is to solve this problem that the signing in November 2020 of an agreement with the European Investment Bank (EIB) for the opening of a loan of 10 billion FCFA in favor of SMEs among others, to strengthen their working capital. In addition, in order to provide support to companies facing the harmful effects of the coronavirus pandemic, the SGC and the State of Cameroon signed last December a memorandum of understanding for the financing of SMEs up to 25 billion FCFA. A project for which the public authorities are encouraging the productive sector to position itself for the post-Covid-19 period by relaunching activities.