CGCC

CGCC Participated in the 31st Asian Credit Supplementation Institution Confederation (ACSIC) Training Program

Mr. No Lida, Deputy CEO of CGCC, led CGCC’s delegation  to attend the 31st ACSIC Training Program in Jakarta, Indonesia, hosted by the Indonesia Guarantee Corporation Association (ASIPPINDO), and presented about Cambodia’s Credit Guarantee Schemes under the  theme  “Building a Resilient Future: Enabling Sustainable Credit Supplementation.”

CGCC Participated in the 31st Asian Credit Supplementation Institution Confederation (ACSIC) Training Program
CGCC Participated in the 31st Asian Credit Supplementation Institution Confederation (ACSIC) Training Program

This training program was participated by approximately 60 delegates representing members/observers of ACSIC from 12 countries in Asia including Cambodia, Indonesia, India, Japan, Korea, Malaysia, Mongolia, Nepal, Papua New Guinea, Philippines, Taiwan, and Thailand.

CGCC Participated in the 31st Asian Credit Supplementation Institution Confederation (ACSIC) Training Program
CGCC Participated in the 31st Asian Credit Supplementation Institution Confederation (ACSIC) Training Program

Through this training program, each member and observer of ACSIC was given an opportunity to share their respective credit guarantee  regarding their institutions’ background, law and regulation, schemes/products, procedure, and mechanisms, especially credit guarantee schemes to support Environmental, Social, and Governance (ESG). Beyond credit guarantee, CGCC and other delegates also shared the commitment and effort in improving financial literacy for MSMEs through capacity-building programs.

ACSIC is the cooperation of the largest Asia’s credit guarantee organization established in 1987, designed for improving the credit guarantee system, which currently has 19 members and observers from 13 Asian countries.

CGCC Participated in the 31st Asian Credit Supplementation Institution Confederation (ACSIC) Training Program
CGCC Participated in the 31st Asian Credit Supplementation Institution Confederation (ACSIC) Training Program
CGCC Participated in the 31st Asian Credit Supplementation Institution Confederation (ACSIC) Training Program
CGCC Participated in the 31st Asian Credit Supplementation Institution Confederation (ACSIC) Training Program

 

Dissemination Seminar on “Guaranteed Loans to support SMEs Development in Tourism Sector”

On 01 September 2022, Ministry of Economy and Finance and CGCC organized a Dissemination Seminar on “Guaranteed Loans to support SMEs Development in Tourism Sector” in Kampot Province, in collaboration with the Ministry of Tourism, through the provincial department of tourism, and SME bank, which was  participated by more than 50 business owners in the tourism sector.

This seminar was presided by Mrs. Chin Sopheakla, Deputy Director of Kampot Provincial Department of Tourism, Mr. No Lida, Deputy CEO of CGCC, and Mr. Neav Sokun, Chief Operation Officer of SME Bank.

Dissemination Seminar on “Guaranteed Loans to support SMEs Development in Tourism Sector”
Dissemination Seminar on “Guaranteed Loans to support SMEs Development in Tourism Sector”

Through this workshop, SMEs in the tourism sector, including resorts, hotels, guesthouses, restaurants, etc., were informed about the benefits of getting guaranteed loans, in response to the lack of collateral when applying for loans for the purpose of improving and recovering their business that are impacted by COVID-19 pandemic.

SMEs also learned about government’s financial supporting mechanisms on favorable loans conditions such as low-interest rate through SME Bank and guaranteed without collateral by CGCC.SMEs can request for guaranteed loans for their tourism related businesses through CGCC’s “Co-Financing Guarantee Scheme for Tourism Sector” that act as collaterals for business loans in the tourism sector through “Tourism Recovery Co-financing Scheme” of SME Bank.

Detail of “Co-Financing Guarantee Scheme for Tourism Sector”: https://www.cgcc.com.kh/en/co-financing-guarantee-scheme-for-tourism/

Dissemination Seminar on “Guaranteed Loans to support SMEs Development in Tourism Sector” organized by CGCC on 1 September 2022 in Kampot Province
Dissemination Seminar on “Guaranteed Loans to support SMEs Development in Tourism Sector”
Dissemination Seminar on “Guaranteed Loans to support SMEs Development in Tourism Sector” organized by CGCC on 1 September 2022 in Kampot Province
Dissemination Seminar on “Guaranteed Loans to support SMEs Development in Tourism Sector”

Job Vacancy – Manager of Finance and Business Analytics

Credit Guarantee Corporation of Cambodia Plc. (CGCC) is a state-owned enterprise established under the Ministry of Economy and Finance. CGCC was recently set up to improve financial inclusion and develop the growth of SMEs in Cambodia. It plays an important role in the economic development of the country.

We are expanding our team! Join us, If you want to be part of the team, CGCC is urgently seeking qualified candidates for the following positions:

Manager of Finance and Business Analytics

Key Responsibilities

  • Ensure that master data (supplier, customer, etc.…) in accounting system is accurate and UpToDate.
  • Review contracts and agreements for implication related to accounting and taxes.
  • Ensure that receivables and payables are effectively managed.
  • Review and ensure that all payments are inline with policies and procedures and in accordance with the approved budget.
  • Review and approve accounting records in the accounting system.
  • Ensure that all accounting records and General Ledger are done correctly (including all accruals and provisions) and on time.
  • Ensure that all reconciliations are done correctly and one time.
  • Manage fixed assets register and depreciation according to policies.
  • Coordinate with all departments to ensure that annual budget and business plan are done on a timely manner.
  • Prepare financial reports and management reports and conduct analysis as required.
  • Prepare statutory reports as required.
  • Work closely with auditors for the internal and external processes.
  • Calculate and prepare monthly taxes and annual taxes.
  • Ensure compliance with tax authority and relevant regulators.
  • Review and update policies, procedures and internal controls as needed.
  • Carry out any other duties and ad-hoc assignments assigned by managements as and when required for CGCC.

 

Qualification Requirements

  • Bachelor’s degree in (master’s degree or professional accountant graduation is preferred) finance, Accounting, Banking, Business Management, or related field.
  • At least 5 to 8 years’ experience in financial management, IFRS, and budgeting.
  • Excellent computer skills and proficient in excel, word, and outlook
  • Good analysis, reporting and communication skills
  • Good knowledge of ERP system or other accounting applications
  • Be able to communicate effectively and professionally in Khmer and English both in writing and speaking
  • Be able to communicate with people at different levels
  • Be able to manage different tasks with the same deadline
  • Have good office and admin management skills
  • Be proactive, creative, and a good team player
  • Be able to work without or with minimal supervision
  • Willing to learn new things

Interested candidates are invited to submit their CV and cover letter to [email protected] (Deadline: September 10, 2022). We regret that only short-listed candidates will be contacted.

Press Release of Virtual Seminar on “Credit Guarantee – Benefits & Opportunities to Support SME Development”

Credit Guarantee Corporation of Cambodia (CGCC) is organizing a virtual seminar on “Credit Guarantee – Benefits & Opportunities to Support Small and Medium Enterprises (SME) Development” today with support from the Ministry of Economy and Finance, Asian Development Bank (ADB), and the United Nations Capital Development Fund (UNCDF). The seminar brings together relevant stakeholders including the Government, Development Partners, Financial Institutions, and business representatives to discuss the benefits and opportunities of using credit guarantees to support business survival and expansion.

The extent to which credit guarantees can contribute to restoring the economy depends on the lenders’ and borrowers’ perspectives toward credit guarantees. The seminar, therefore, focuses the discussion on their perspectives toward credit guarantees. All speakers shared a common view that lack of collateral is one of the main challenges for businesses to access formal loans. They agreed that credit guarantees can support banks and Micro-Finance Institution (MFIs) to lend out more to businesses, especially those who lack collateral.

The seminar also digs into stakeholders’ ongoing efforts to improve SME access to finance for the economic re-opening in Cambodia. The Government has introduced many policy interventions to support SME access to finance. In addition, relevant stakeholders have spared​ efforts which include, among others, increasing financial literacy, introducing innovative financial solutions, and upgrading financial sector infrastructure. The panelists demonstrated their commitment to continue supporting SMEs’ access to financial services.

Prominent speakers in this seminar include the President of Federation of Associations of SMEs of Cambodia (FASMEC), Vice President of Cambodia Women Entrepreneurs Association (CWEA), President of Young Entrepreneurs Association of Cambodia (YEAC), Chairman of Cambodia Microfinance Association & CEO of AMK Microfinance, CEO of Canadia Bank, Deputy Director General of General Department of Policy of Ministry of Economy and Finance, and Senior Financial Sector Specialist from the ADB, and Senior Regional Technical Advisor from UNCDF, and CGCC’s management. This seminar attracted more than 300 participants from various institutions – Government, development partners, financial institutions, and business communities.

CGCC is a state-owned enterprise under the financial and technical guidance of the Ministry of Economy and Finance. CGCC’s mission is to provide credit guarantees to lenders on loans made to businesses. As of 10 December 2021, CGCC has provided guarantees for 173 loans with a total amount of over USD 20 million.

Phnom Penh, 16 December 2021

Credit Guarantee Corporation of Cambodia