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The CGCI-PME guarantees more than 35 billion dinars of credits in 2024
Reinforced support for SMEs
The warranty fund for investment credits for SMEs (CGCI-PME) continued its engine role in the support of small and medium-sized enterprises in Algeria in 2024. According to its latest assessment, the institution has granted guarantees for excluding banking credits in an overall amount exceeding 35 billion dinars, sharply increased compared to the 28 billion recorded in 2023.
This increase reflects a positive dynamic, marked by an increase of 30 % in the number of files processed. A total of 561 credit operations were guaranteed in 2024, compared to 431 the previous year, a growth of 26 % in value. These figures bear witness to the growing confidence of SMEs towards this mechanism, as well as the commitment of the CGCI-PME to play an active role in supporting the national economic fabric. Created in 2006, the CGCI-PME facilitates the access of SMEs to financing by offering the banks covering a large part of the risk of non-reimbursement, against the payment of a premium equivalent to 0.5 % of the amount of the credit. This approach makes it possible to encourage financial institutions to grant loans to businesses often deemed at risk. Since its creation, the Caisse has guaranteed 5,256 investment projects, for a cumulative amount of credits exceeding 114 billion dinars at the end of 2024. However, this activity is not without counterpart: compensation paid in the event of default has reached 2.3 billion dinars in 2024, bringing the total disbursements from 8.6 billion. In a desire for modernization and efficiency, the CGCI-PME also continued the development of its digital platform “E-Garantie” this year, launched in 2023. This digital tool allows partner banks and institutions to subscribe to guarantees, while ensuring electronic management of documents relating to credit operations, such as amortization tables, invoices or declarations of claims. At the same time, the fund was committed to compliance with law 18-07 on personal data protection, thus strengthening the security of its information systems and the confidentiality of the data processed. With these advances, the CGCI-PME confirms its strategic role in supporting the financing of SMEs and the modernization of financial services in Algeria. From the perspective of the years to come, the CGCI-PME intends to strengthen its partnership with the banking sector, in particular by expanding the range of its guarantee products and by targeting new business segments, including startups and innovative project leaders. The stated objective is to further stimulate productive investment and actively participate in the diversification of the national economy.
Djamila Sai