These are the conditions to benefit from WAEMU’s SME and SMIs support program

Economic governance
Wednesday, 29 May 2019 12:16
These are the conditions to benefit from WAEMU’s SME and SMIs support program

(Togo First) - SMEs and SMIs willing to benefit from the WAEMU SME/SMI support program must meet specific criteria.

They must be autonomous, produce goods or market services, be registered at the Trade and Personal Property Credit Register (RCCM) in any of the WAEMU member states, or any equivalent register.

Moreover, in line with legal standards in effect, the firms must provide their financial statements, a management and support framework, and have a pre-tax annual turnover of at least one billion CFA.

The present program aims to finance SMEs and SMIs as they struggle to get loans from banks and other conventional lending institutions, for their expansion. Quite a paradox considering that the businesses make up nearly 95% of the WAEMU’s economic fabric.   

Séna Akoda

togofirst mobile

 
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