–
Felix BIKPO, Group CEO since its creation, becomes Chairman of the Board of Directors and the Deputy CEO, Jules NGANKAM, is appointed Acting CEO.
After a 9-year mandate at the head of the African Guarantee Fund (“AGF”), Mr. Felix BIKPO, Group CEO since its creation, decided to retire from his post. He was asked to join the Board of Directors where, in accordance with the recommendations of the shareholders, he was appointed Chairman from July 1, 2020.
Regarding his mandate, Mr. BIKPO pointed out: “My greatest satisfaction is that the financial sector has become aware of the role of SMEs as an engine of economic growth; thanks to our guarantee products, we have directly facilitated the granting of a large volume of financing to SMEs with the effect of a great economic and social impact on the continent ”.
“In addition, obtaining the AA- rating by Fitch Ratings in 2017, renewed twice, demonstrates AGF’s positioning as a leader in the guarantee market in Africa, and its expertise in the area of SME financing. . I am proud of the contribution made, especially in favor of the next generation, ”he added.
The Board of Directors has also decided to appoint Mr. Jules NGANKAM, the current Deputy CEO of the group, as interim CEO from July 1, 2020.
Mr. NGANKAM joined the institution in 2013 as Chief Financial Officer and was appointed Deputy Chief Executive Officer by the Board of Directors in April 2017. He has more than 15 years of experience in the field of banking and financial services at within leading financial institutions. Before joining the group, Mr. NGANKAM worked for 8 years at Barclays Capital, the investment bank of the Barclays PLC Group, where he held various positions, notably as portfolio manager of derivative products and Vice President at within the group cash management team.
Mr. NGANKAM is of Cameroonian nationality. He graduated in statistics and economics from ENSAE Paris and in management from ESSEC Business School in Paris. He also holds a master’s degree in applied mathematics from the University of Paris Dauphine.
In his new role as Acting Managing Director, Mr. NGANKAM said: “I am pleased to participate in reducing the obstacles faced by SMEs and in supporting financial institutions to overcome the challenges they face by funding them. AGF remains determined to continue providing quality service to its partners, especially during this difficult period ”.
A propos de African Guarantee Fund
The African Guarantee Fund is a non-bank financial institution whose objective is to promote economic development, increase job creation and reduce poverty in Africa by providing financial institutions with guarantee solutions and support for capacity building, specifically aimed at supporting SMEs in Africa.
African Guarantee Fund was created by the government of Denmark through the Danish International Development Agency (DANIDA), the Spanish government through the Spanish Agency for International Cooperation and Development (AECID) and the African Bank Development (ADB). The other shareholders are: the French Development Agency (AFD), the Nordic Development Fund (NDF), the Investment Fund for Developing Countries (IFU) and the KfW Development Bank. AGF is rated AA- by the rating agency Fitch Ratings.
–
