GuarantCo provided Société Générale Cameroun and Société Commerciale de Banque Cameroun with USD 38.4 million XAF equivalent guarantee to finance TollCam and support infrastructure development in Cameroon.
GuarantCo provided a XAF 23.5 billion (c. USD 38.4 million) guarantee solution to Société Générale Cameroun (SG) and Société Commerciale de Banque Cameroun (SCB), a subsidiary of Attijariwafa Bank Group, to finance TollCam, a project company established by Egis and Fayat. The financing comprises a 14-year combined liquidity extension and partial credit guarantee to support debt for the modernisation, operation and maintenance of 14 toll plazas across Cameroon.
The project is being developed by the sponsors under a 20-year PPP agreement with the Government of Cameroon (GoC). The combined guarantees will help SG and SCB provide XAF 32.5 billion (circa USD 52.5 million) of long-term debt arranged by Société Générale Côte d’Ivoire to support the toll development project.
The project contributes to Sustainable Development Goal (SDG) 17.1 – Strengthen domestic resource mobilisation to improve domestic capacity for tax and other revenue collection and SDG 9.1 – Develop quality, reliable, sustainable and resilient infrastructure, including regional infrastructure, to support economic development and human well-being.