Gabon's Guarantee Company launches new initiative to boost funding for women entrepreneurs

On July 27 in Libreville, the institution gathered around 40 women entrepreneurs from various provinces and financial partners to launch a new mechanism aimed at improving women's access to bank credit and strengthening their financial inclusion. This initiative, titled "Entrepreneurship for Women: Together, Let's Remove Obstacles," was held under the patronage of Zenaba Gninga Chaning, the Minister of Entrepreneurship, Trade, and SMEs-SMIs. The event highlighted the persistent difficulties faced by women project leaders.

While more women are starting businesses, they remain underrepresented among those receiving financial guarantees. Out of 436 SMEs supported by the SGG, only 98, or 22%, are led by women. Alban Etho, the Director General of the SGG, stated that this figure does not reflect a lack of ambition or skills but rather obstacles such as difficulties in providing bank-required guarantees, structuring financing applications, and accessing existing support schemes.

To address these issues, the SGG introduced a guarantee product specifically for women entrepreneurs, covering up to 75% of bank financing to reduce risk for financial institutions and increase access to credit. The day also included discussions on formalizing women's businesses, a panel with representatives from various chambers and financial entities, and B2B workshops where en