In a major leap toward inclusive economic growth and financial empowerment, the African Development Bank (AfDB) has approved a €25.5 million trade finance facility for Générale de Banque de Mauritanie (GBM). This ambitious partnership is designed to strengthen trade finance, stimulate small business growth, and unlock the full potential of women-led enterprises in Mauritania.
As Mauritania accelerates efforts to diversify its economy and fortify local industries, this financing package arrives at a critical time—infusing much-needed liquidity and confidence into the private sector.
What the Facility Includes
The multi-faceted package consists of:
- €15 million: Trade finance line of credit
- €5 million: Trade finance guarantee
- €500,000: A grant under the Affirmative Finance Action for Women in Africa (AFAWA) initiative, through We-Fi
- $5 million: Co-financing from the Africa Growing Together Fund (AGTF)—a collaboration between AfDB and the People’s Bank of China
Together, these instruments will fuel cross-border trade, support imports of critical equipment and goods, and enhance access to financial instruments for SMEs and large corporates—especially those led by women.
Focus on Priority Sectors
The facility is tailored to boost Mauritania’s capacity in priority development sectors, including:
- Renewable energy
- Fisheries
- Agriculture
- Infrastructure
- Light manufacturing
- Telecommunications
- Essential consumer goods
These sectors form the backbone of the Mauritanian economy, and the funding will empower local businesses to import equipment, scale production, and meet rising domestic and export demand.
A Second Act for a Growing Partnership
This is not the first collaboration between AfDB and GBM—but it is the most strategic to date.
“This partnership—the second of its kind with GBM—provides essential financial resources to improve the bank’s trade finance offering for SMEs and other enterprises,”
said Ahmed Attout, AfDB’s Director for Financial Sector Development.
He highlighted that the trade finance guarantee would allow AfDB to cover up to 100% of risks for confirming banks, enabling confidence in trade instruments like letters of credit. The line of credit, on the other hand, will inject liquidity into the banking system, accelerating the pace of economic activity.
Women at the Forefront of Financial Inclusion
A major highlight of this initiative is its unwavering focus on gender inclusion.
At the center is AFAWA, AfDB’s flagship program to bridge the financing gap for women-owned and led businesses. Through the We-Fi grant, GBM will increase lending to female entrepreneurs, many of whom are driving innovation across Mauritania’s agricultural, services, and light industry sectors.
“This initiative goes beyond financial progress—it is a real lever for inclusive growth,”
said Leila Boumatou, CEO of GBM and the only female bank leader in Mauritania.
“It empowers our entrepreneurs, particularly women, to turn local ambitions into tangible outcomes.”
Boumatou added that this funding will help bridge long-standing structural financing gaps, strengthen Mauritania’s industrial base, and build a more resilient economy that supports all segments of society.
Aligning with AfDB’s Vision for North Africa
The trade finance facility is part of AfDB’s broader push to scale up private sector support in Mauritania and across the North African region.
“This facility will strengthen GBM’s ability to support Mauritania’s economy, stimulate local productive sectors, and drive economic growth while creating and sustaining thousands of jobs,”
said Malinne Blomberg, AfDB Deputy Director General for North Africa.
The move aligns with AfDB’s strategic goals of job creation, industrialization, and financial sector deepening, especially in frontier markets where access to capital remains a persistent challenge.
About GBM: A Bank with Purpose
Générale de Banque de Mauritanie (GBM) is no ordinary institution. With equity of €68 million, a €209 million balance sheet, and a team of 115 professionals, GBM serves a growing portfolio of 1,300 businesses across Mauritania. It is also the only Mauritanian bank led by a woman, a testament to its progressive and inclusive vision.
Its core mission? Financing SMEs and high-impact sectors critical to the country’s development. The bank is also a leading player in international trade finance, connecting Mauritanian businesses to global markets.
A New Chapter for Mauritania’s Economic Resilience
This €25.5 million facility is more than a finance deal—it’s a catalyst for transformation. It will help Mauritania grow its industrial base, diversify exports, empower women, and position SMEs as engines of inclusive growth.
In a continent hungry for change, this partnership offers a powerful model for smart, gender-inclusive financing that meets both immediate needs and long-term ambitions.
“Mauritania is rising—on the strength of its people, its businesses, and now, a bold new vision for trade and inclusion.”
aswesome content