Private Sector Development: The AfDB and Ecobank join Forces to boost Financing for Central African SMEs

Under the leadership of Prof. Richard FILAKOTA, Minister of Economy, Planning and International Cooperation, a historic event for the Central African private sector took place. Driven by the President of the Republic, Head of State, Prof. Faustin-Archange TOUADERA, and under the auspices of the Government led by Félix Moloua, the African Development Bank (AfDB) and Ecobank Central African Republic officially signed an agreement relating to a Transaction Guarantee Facility. This mechanism comes in an international context marked by market volatility and tightening prudential requirements, making access to trade finance crucial for national production. 

For Félix Landry Ndjoumé, Managing Director of Ecobank Central African Republic, this facility, amounting to five million euros, constitutes a powerful lever to secure international trade operations. Specifically, this instrument enables the AfDB to provide Ecobank with a guarantee line covering various tools such as letters of credit and bank guarantees. This mechanism aims to reduce risk perception, streamline transactions, and facilitate SMEs’ access to essential financing instruments to stimulate growth. 

For his part, Mamadou Coulibaly, AfDB Country Representative, emphasized that this agreement reflects his institution’s continued commitment to supporting the private sector in close synergy with government efforts. He specified that this mechanism will notably support the importation of essential goods as well as industrial equipment indispensable for economic recovery. For the AfDB, this strategic partnership with Ecobank is a driver of emergence that places SMEs—particularly those led by women—at the heart of the Central African Republic’s transformation process. 

The Minister of Economy, Planning and International Cooperation, and also Governor of the AfDB in the Central African Republic, Prof. Richard Filakota, warmly welcomed this alliance, which he described as a catalyst for economic development. He stressed that this agreement is fully aligned with Strategic Axis No. 4 of the National Development Plan (PND 2024–2028), dedicated to accelerating production and strengthening productive value chains. The Minister expressed the hope that this mechanism will yield sustainable results and directly contribute to wealth creation for local populations. 

In conclusion, this agreement goes beyond a simple financial instrument to become the expression of a shared vision on the fundamental role of the banking sector in regional integration. By facilitating access to credit for small and medium-sized enterprises—the backbone of the economy—the Government and its partners are laying a decisive milestone for the country’s structural transformation. The time has now come for the operationalization of this mechanism so that its benefits can be felt rapidly in the national market.