Jules Ngankam - Afrikan Heroes

African Guarantee Fund Group Partners Orabank Group to Support Small and Medium Enterprises (SMEs)

January 1, 2023

The African Guarantee Fund Group (AGF), through its subsidiary AGF West Africa, and the Orabank Group have concluded a portfolio guarantee agreement for a total amount of 60 billion FCFA (100 million USD), aimed at increasing the financing capacity of the Orabank Group in favor of SMEs through its subsidiaries in West Africa.

The partnership agreement was signed by Jules NGANKAM, AGF Group Chief Executive and Ferdinand NGON KEMOUM, Chief Executive Officer of Oragroup, in the presence of the entire Top Management from both institutions.

The strengthening of the partnership between the two institutions will allow Orabank Group to play a major role in the development of the economies where it operates, by providing a solution to the thorny issue of access to financing for SMEs.

This partnership is supported by the AfDB’s Affirmative Finance Action for Women in Africa (AFAWA), and will therefore increase financing for women entrepreneurs in the region. The guarantee will also cover SMEs eligible for green financing.

“African Guarantee Fund Group is committed to working with its financial partners to promote economic development, increase job creation and reduce poverty in Africa by providing guarantee solutions and capacity building support specifically to support SMEs. The Orabank Group is a leading player in the financing of African economies due to its geographical presence, focus on SMEs and financial strength. Our partnership with the Orabank Group will therefore allow us to play our major role in promoting the financing of African SMEs,” said Jules NGANKAM.

On his part, Ferdinand NGON KEMOUM, Oragroup Managing Director, welcomed this new partnership with the African Guarantee Fund Group, as a strong symbol of the African SMEs’ development. The fund, which is a powerful illustration of the possible synergies between pan-African groups that share a sustainable and responsible development approach. “This portfolio guarantee will strengthen Orabank’s ability to finance SMEs with innovative solutions adapted to their risk management and development cycle. Moreover, this portfolio guarantee is fully in line with our strategic plan to effectively support SMEs in all aspects of their ecosystem, in line with our pan-African vision to participate in the economic and social development of the private sector in the twelve countries where we have operations.”

This agreement comes on the heels of three previous agreements signed between the two financial institutions since 2015 including a portfolio guarantee and two fundraising guarantees that have enabled the Orabank Group to finance thousands of SMEs in its countries of operation, achieve strong financial performance, and contribute sustainably to the growth of the economies where the Group operates.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

African Guarantee Fund Appoints Jules Ngankam as Group Chief Executive Officer

October 10, 2020

The African Guarantee Fund has named Jules Ngankam as its new Chief Executive Officer (CEO), the appointment follows his recent nomination as Acting Group CEO at the beginning of July 2020, when the founding CEO transitioned to Board Chairman. Ngankam’s appointment was confirmed by AGF Board of Directors on 22nd September 2020; He has worked with the pan-African financial guarantee provider for the past seven years.

Mr. Ngankam joined AGF in 2013 as the Chief Finance Officer, after which he served as Deputy CEO since April 2017. He is a Cameroonian national and a graduate of ENSAE Paris in statistics and economics and of ESSEC Business School in Paris. He also holds a Master’s degree in Applied Mathematics from the University of Paris Dauphine in France. His appointment comes at a time when lenders across the continent are in dire need of cushioning to support them as they lend to SMEs.

“I am grateful and humbled to take up this position. AGF has succeeded over the years to make a difference in our continent’s economy by unlocking financing for SMEs, and I look forward to even greater results” he said.

In a related development, the Africa Guarantee Fund (AGF) Board of Directors also approved the implementation of the Affirmative Finance Action for Women in Africa (AFAWA). AFAWA is an initiative being undertaken jointly with the African Development Bank which aims to address all critical elements of the entrepreneurship ecosystem of women in business in Africa, in particular finance, to support their economic empowerment, reduce vulnerability, and unleash unused potential for more sustainable and equitable growth.

Speaking at the Board Meeting, the new chairman, Felix Bikpo congratulated Mr. Ngankam and wished him success in his new role. He also thanked the Board of Directors for their continued support to the Group, citing AFAWA’s approval, which will be a game-changer for African women entrepreneurs.