Cameroon’s Jules Ngakam has been appointed as the Chief Executive Officer of the African Guarantee Fund.
His appointment was confirmed on September 22 following the Board of Directors meeting after serving as acting CEO since July 2020.
He has witnessed a steady rise at the AGF since he joined the structure in 2013 as the Chief Finance Officer in 2013 before rising to the rank of Deputy CEO since 2017.
A graduate of the ENSAE Paris in statistics and economics and of ESSEC Business School in Paris, 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.
He also holds a Master’s degree in Applied Mathematics from the University of Paris Dauphine in France.
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.