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African Solidarity Fund: More than 41 billion FCFA made available to Orabank Gabon

11/08/2021
Categories: Companies

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The signing of a guarantee agreement of 41 billion FCFA made available to Orabank Gabon took place at the headquarters of the African Solidarity Fund on Monday, August 9, 2021. This act formalizes the agreement given by the FSA to constitute Guarantor Autonomous from Orabank Gabon.

      

The general manager of the African Solidarity Fund, Ahmadou Abdoulaye Diallo and that of Orabank Gabon, Abdoul Younoussi signed this guarantee agreement for a maximum amount of 41,232,282,917 FCFA, covering 100% of certain commitments of the FSA in favor of the State of Gabon. One of the benefits derived from the FSA guarantee is the improvement of the bank's solvency. The amount of the guarantee granted by the FSA to ORAGROUP is around 41 billion FCFA. This intervention, said Ahmadou Abdoulaye Diallo, brings the amount of guarantees granted to ORAGROUP subsidiaries to approximately 76 billion FCFA. For his part, the Managing Director of Orabank Gabon, Abdoul Younoussi recalled that ORABANK Gabon recently benefited from a portfolio guarantee for an envelope of 3 billion FCFA from the FSA, aimed at supporting and securing loan to Small and Medium Enterprises, Small and Medium Industries, individual entrepreneurs or natural persons exercising a liberal profession.

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