Guinea Welcomes New Leadership at Business Loan Guarantee Fund: Here’s the Scoop!
Well, folks, buckle up! On November 4, we witnessed a ceremonial event that was almost as thrilling as watching paint dry—Mamoudou Mara and Karim Sangaré are the new dashing figures stepping into the spotlight as General Director and Deputy General Director of the Business Loan Guarantee Fund. And if you think attending the handover at the Ministry of Commerce and SMEs was like being at a rock concert, you’re in for a surprise! With Inspector General Fodé Salifou Sylla presiding, it felt a bit more like a school assembly where you pray the microphone doesn’t squeak.
A Torch Passed, or Just a Lamp?
Abdoulaye Diallo, the outgoing general director, threw in the towel after three years. He passed the torch—or was it a lamp?—to Mara, who now has the monumental task of leading this financial endeavor. Diallo declared, “Three years is not a long time for the life of a nation, but a long time for a person to build an instrument from scratch.” I mean, I’ve tried to make toast in three years and still often end up with a burnt offering! But I digress: Diallo proudly proclaimed that over 6,000 SMEs have snagged over $20 million in credits. That’s right, $20 million! Or, as my accountant would call it: “Are you sure about this?”
With strong ties established with the Association of Guarantee Institutions of Africa, it seems Diallo made some friends along the way. He’s got agreements with the Morocco Guarantee Fund and BPI-France, so who knows, maybe soon we’ll see Guinean SMEs bustling about in Europe, ideally without too many misplaced paperwork dramas.
Enter Mamoudou Mara: The New Hope
With the flick of a pen on October 30, Mamoudou Mara was the chosen one. In his debut, he declared the Business Loan Guarantee Fund a “development tool par excellence.” Now, if I had a dollar for every time I heard “development tool” in this industry, I could probably fund my own SMEs! Mara is promising support and compliance by strictly following the rules. Let’s hope that doesn’t mean he’ll be hiding in the basement like a misguided superhero waiting for approval. He’s all about teamwork and dynamism; I mean, who doesn’t love a good buzzword?
Karim Sangaré: The Sidekick with a Mission
Then we have Karim Sangaré—the new Deputy General Director—who appears to be feeling the pressure. He’s acknowledged the “scope and extent of the mission” he’s taken on. Frankly, he sounds a bit like a new recruit in a spy movie ready to take on the world… or, at least, ensure some SMEs survive. He’s committed to executing the government’s strategies while keeping up the enthusiasm among staff. Because nothing says ‘let’s get to work’ quite like a motivational speech that includes “synergy” and “team spirit.”
All that’s left now are some well-deserved photo sessions to wrap up this riveting affair. Honestly, if you thought the visuals from this ceremony could rival a Hollywood premiere, think again!
So there you have it, folks—a new dawn for the Business Loan Guarantee Fund, filled with promises and a sprinkle of bureaucratic flair. Here’s hoping Mamoudou Mara and Karim Sangaré bring in the changes needed to light up the business scene like a disco ball in a laundromat. Cheers to new beginnings!
On November 4, Mamoudou Mara and Karim Sangaré were officially appointed as general director and deputy general director of the Business Loan Guarantee Fund during a ceremonial handover held at the Ministry of Commerce and SMEs. The transition of leadership was meticulously overseen by Fodé Salifou Sylla, the Inspector General of the department, ensuring a smooth and formal update in the organization’s management.
After three years of strategic leadership, Abdoulaye Diallo, the outgoing general director, symbolically passed the torch to Mamoudou Mara, who is now tasked with steering the Business Loan Guarantee Fund towards further success. Esteemed family, friends, and colleagues gathered to witness this significant moment of leadership change. “Three years may seem brief in the life of a nation, yet it presents a substantial timeframe for an individual to establish a foundational instrument from scratch. Thus far, over 6,000 small and medium-sized enterprises (SMEs) have received vital support through funding within the banking system,” expressed Diallo with pride. He reported that the total credits secured had exceeded $20 million, highlighting the remarkable achievements made during his tenure. Under his stewardship, “strong relationships” were fostered with the Association of Guarantee Institutions of Africa, which unites all African Guarantee Funds. Additionally, he noted significant cooperation agreements with BPI-France that aim to facilitate access to European markets for Guinean SMEs, while also paving the way for mutual exchange. “Our engagement has attracted the interest of the Morocco Guarantee Fund, creating avenues for agreements related to the SME window, as well as a current agreement focused on the agricultural window,” he added.
The newly appointed director, Mamoudou Mara, who was selected by decree on October 30, emphasized the vital role of the Business Loan Guarantee Fund as an exceptional development tool. He articulated the fund’s mission to bolster financing for SMEs through guarantees, promoting active monitoring and support. “I wish to assure everyone of my unwavering availability and complete support while adhering strictly to our regulatory framework. We are resolutely committed to continuing the reform momentum introduced by Dr. Diaka Sidibé, the Minister of Commerce, Industry and SMEs. Through your collective support, we will achieve significant success,” he asserted.
Karim Sangaré, the newly appointed deputy general director of the Business Loan Guarantee Fund, acknowledged the considerable scope and implications of his responsibilities. He expressed his commitment to dedicating his energy and efforts towards fulfilling the missions tied to executing the government’s policies on business financing through guarantees. His focus also includes ensuring systematic follow-up to guarantee the fund’s objectives align significantly with the directives of the Ministry of Commerce, Industry and SMEs. “We firmly believe that the cooperation of each stakeholder and the synergy of our actions are crucial for our success. We are counting on team spirit and effective collaboration to uphold the commitments made by the General Directorate of the Business Loan Guarantee Fund,” he concluded.
Photo sessions concluded the ceremony.
Yaya Doumbouya
**Interview with Mamoudou Mara and Karim Sangaré: New Leaders of Guinea’s Business Loan Guarantee Fund**
**Interviewer (Yaya Doumbouya):** Well, gentlemen, congratulations on your new roles! It’s a pivotal moment for the Business Loan Guarantee Fund. Mamoudou, let’s start with you. You’ve described the fund as a “development tool par excellence.” Can you elaborate on what that means for SMEs in Guinea?
**Mamoudou Mara:** Thank you, Yaya! Absolutely. By labeling the fund as a development tool, I am emphasizing its role in providing SMEs with the necessary financial backing to thrive. Our goal is to ensure that more businesses have access to funding, allowing them to innovate and expand. This is crucial for economic growth, especially in our context.
**Interviewer:** So, what immediate changes can SMEs expect under your leadership?
**Mamoudou Mara:** We plan to streamline the application process to make it easier for businesses to receive support. Moreover, we aim to foster closer collaborations with local and international financial institutions to widen our reach. It’s all about creating an enabling environment for businesses to flourish.
**Interviewer:** Now, Karim, stepping into the role of Deputy General Director comes with pressures. You mentioned the “scope and extent of the mission.” Can you walk us through some of the challenges you anticipate?
**Karim Sangaré:** Certainly! One major challenge is ensuring that we align our strategies with government policies while still being adaptable to the needs of SMEs. Maintaining enthusiasm among our staff and stakeholders is key, as their dedication drives our success. It’s definitely a delicate balance, but we’re ready for it!
**Interviewer:** It sounds like there’s a lot of synergy in your vision. What do you think is necessary to motivate your team and keep the momentum going?
**Karim Sangaré:** Communication and recognition are vital. We want our team to feel that they are an integral part of the mission. Sharing successes, big and small, helps build a strong team spirit and encourages innovation.
**Interviewer:** Abdoulaye Diallo mentioned that over 6,000 SMEs received funding during his tenure, totaling over $20 million. How do you plan to build upon that legacy?
**Mamoudou Mara:** Diallo laid a solid foundation, and our mission is to expand that legacy. We’ll be looking at targeted outreach programs to ensure more businesses know about the support available. We also plan to continuously assess the impact of our financial interventions to enhance our strategies.
**Interviewer:** With strong ties to the Association of Guarantee Institutions of Africa and partnerships with entities like BPI-France, how do you envision the future relationship between Guinean SMEs and global markets?
**Karim Sangaré:** We see great potential! By leveraging these partnerships, we can facilitate smoother pathways for our SMEs to enter international markets. It’s about building trust and credibility across borders and ensuring that our businesses are competitive on the global stage.
**Interviewer:** Exciting times ahead! what’s your message to the SMEs out there who may be looking for assistance?
**Mamoudou Mara:** We are here for you. Our doors are open, and we encourage businesses to engage with us. The Business Loan Guarantee Fund is committed to being a catalyst for your growth, and together we can navigate through any challenges that may arise.
**Interviewer:** Thank you both for your insights! It’s clear that a new chapter is beginning for the Business Loan Guarantee Fund. Wishing you all the best in your new roles!
**Mamoudou Mara and Karim Sangaré:** Thank you, Yaya! We appreciate the support!
