Vista Bank grants €10m credit facility to enhance Guinea‘s entrepreneurs

Vista Bank Guinea has been granted a €10m line of credit by the ECOWAS Bank for Investment and Development (EBID) to increase its capacity, support and medium-term funding for small and medium-sized enterprises (SMEs) and small and medium-sized industries (SMIs) in the Republic of Guinea.

It grants loans for the development of the Guinean private sector, offers financial advisory services and finances expansion, diversification, modernisation and rehabilitation projects.

The bank is focusing on the deployment of its growth strategy to diversify its portfolio towards Guinean SMEs and SMIs, through which we are serving over 2,000 corporate clients, 80per cent of which are SMEs.

According to the Managing Director of Vista Bank Guinea, Mrs Yassin Bayo said, “Vista is determined to be a force for good in driving Guinea’s economic development and prosperity and our growth plans are geared towards this objective.

“The credit facility from EBID will enable us to increase our provision of finance to Guinean SMEs and SMIs, which will strengthen their capacity, increase their participation in value chains, and promote Guinea’s industrialisation.”

The line of credit is part of EBID’s commitment to supporting the government of Guinea’s implementation of its 2020-2025 Development Plan to develop the private sector and transform the economy. The agreement for the line of credit facility was signed by Dr George Agyekum Donkor, President and Chairman of the Board of Directors of EBID and Mrs Yassin Bayo.

Vista Bank Guinea – which is part of the Vista Group owned by Lilium Holdings – is supporting customers’ financial recovery from the Covid-19 pandemic and providing a full range of accessible banking facilities to everyone, especially women and SMEs who have long been impeded by a lack of access to finance.