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Funding: SCANNING SYSTEMS receives 8.4 billion FCFA from Société Générale and local banks

21/05/2021
Categories: Companies

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Société Générale and local banks granted SCANNING SYSTEMS financing worth 8.4 billion CFA francs. This transaction was arranged and structured by Société Générale Group's Sub-Saharan Africa Structured Finance Platform (SFG AFS), which also acted as Facility and Security Agent.

Support for African SMEs is one of the 4 areas of development initiated by the Societe Generale Group in accordance with the “Grow with Africa” initiative, which aims to collectively contribute to the sustainable development of Africa. Thus, Société Générale Côte d'Ivoire and other local banks have granted financing to SCANNING SYSTEMS, an Ivorian company, for the construction and development of juxtaposed checkpoints (PCJ) at the Côte d'Ivoire / Mali borders. and Ivory Coast/Burkina.

This sub-regional project is very strategic for UEMOA and ECOWAS which are the initiators. It aims to intensify trade between WAEMU member states and is part of a global program for the area. Local banks are following in the footsteps of the European Union and the African Union, which also support this program. This project also promotes a new deployment and better visibility of the YUP solution, which should be part of the means of payment available at the funded juxtaposed checkpoints.

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