Launched a quarter earlier at the end of a partnership agreement signed between the Gabonese State and the Compagnie Miniere de l’Ogooué (Comilog) as well as three microfinance institutions (EMF), the seed fund making it possible to facilitate access to financing at lower cost for individual entrepreneurs, very small businesses and SMEs in the Mouanda area, continues to reveal its first successes with its beneficiaries, such as Karène Abessolo.
After the visit made last week to two beneficiaries of the seed fund set up by the Gabonese State and Comilog, a delegation from the mining company and a representative of microfinance EDG went on January 16 to meet a new beneficiary. Objective, to become immersed in the implementation of Karène Abessolo’s “restaurant-bar in the Léyima district” project.
Having obtained financing from the microfinance establishment EDG Moanda, repayable in 24 months, the young lady decided to open a restaurant-bar in the Léyima district, in the second arrondissement of the city of Moanda. This loan was used not only for the repair of the premises it rents, in particular painting, plumbing, electricity, fitting out a VIP room, but also for the purchase of equipment such as freezers, air conditioners, tables, chairs, food, drink, etc.
Thanks to this mini restaurant, it has 4 employees to its credit, including 3 full-time and one working part-time. “I am very happy to have carried out this project, because out of 10 people, there are at least 8 who encourage me. I would like to thank the State and Comilog for giving me this opportunity and I encourage others to do like me.“, declared Karène Abessolo full of gratitude and satisfied with her achievement.
Funded by the Gabonese State and Comilog, this seed fund is intended for entrepreneurs residing in Comilog’s area of influence. It is part of support for the local economy in order to find an alternative to mining. The conditions for accessing this financing mechanism, the guaranteed interest rate of which is between 5 and 6%, are as follows: be Gabonese, reside in Comilog’s area of influence and have a project whose implementation cost varies between 1 and 25 million.