At the end of a Board of Directors held on September 22, 2020, we learn from good sources, the Cameroonian statistical engineer and economist Jules Ngankam was confirmed as managing director (CEO) of the African Guarantee Fund (AGF), which he had held on an interim basis since July 2020.

former executive at Barclays Bank in London, where he spent 8 years, Jules Ngankam is a graduate of ESSEC in Paris and the National School of Statistics and Economic Administration (ENSAE) in France. He joined the African Guarantee Fund in 2013 as Administrative and Financial Director.

In 2013, this pan-African guarantee fund signed a $100 million (approximately 60 billion FCFA) memorandum of understanding with the Cameroon Inter-Management Group (GICAM) and a banking pool (SGBC, BICEC, Afriland First Bank, Ecobank, BGFI), aimed at setting up a pilot project to finance and support local SMEs.

Designed and founded by the African Development Bank (AfDB), AGF has the French Development Agency (AFD) in its shareholder portfolio. It also includes the Nordic Development Fund (NDF), which is the joint development financing institution of the five Nordic countries; or the Spanish Agency for International Development Cooperation