Bceao launches support mechanism for financing Pme-Pmi

The Central Bank of West African States (Bceao) will launch this week the launch of the support mechanism for the financing of small and medium-sized enterprises in the West African Economic and Monetary Union (UEMOA), known as the SME scheme. .
To this end, it plans a series of launching ceremony from July 30 to August 3 next in the different states of the union.
According to a public opinion issued by the institution, “the implementation of this device follows the mandate given to Bceao by the conference of Heads of State and Government of Uemoa, as part of the plan of action for the financing of the economies adopted in June 2012 “.
Indeed, given the weight of SMEs in the economic fabric of the various Member States, the highest authorities of the Union have decided to take steps to promote their access to bank financing, with a view to increasing their contribution Gross Domestic Product (GDP) and job creation, says the institution in the document.
The SME scheme aims to create the conditions for better support for eligible companies and the creation of a critical mass of successful companies.
It is intended for non-financial companies that have the following characteristics: to be an autonomous enterprise, producer of goods and / or merchant services, registered in the Trade and Personal Property Credit Register or any other equivalent register in lieu thereof; have an annual turnover excluding taxes not exceeding one billion FCfa; comply with the legal obligation to produce financial statements in accordance with the provisions in force and be followed by a support and management structure.
The bank will act on the conditions of offering financing to SMEs, making bank credit more attractive to these companies.
In addition, it will be responsible for reporting the development of the device to the highest authorities of the Union, the source said.