(Business in Cameroon) - Cameroonian economist and statistical engineer, Jules Ngankam, was confirmed for the position of Managing director of the African Guarantee Fund (AGF) during a meeting of the fund’s administrative board on September 22, 2020. Before this confirmation, disclosed by credible sources, the economist was the interim managing director of the AGF (a position he assumed in July 2020).
Jules Ngankam is a former executive of Barclays Bank London (where he spent eight years). He graduated from the Essec business school in Paris and the French National School of Statistics and Economic Administration (Ensae). In 2013, he joined the African Guarantee Fund as Chief Administrative and Financial Officer.
In 2013, this pan-African guarantee fund signed a $100 million (about XAF60 billion) MoU with employers’ group GICAM and a banking pool (SGBC, BICEC, Afriland First Bank, Ecobank, BGFI) to set up a pilot project for the financing of Cameroonian SMEs.
The AGF was created (and is funded) by the African Development Bank (AfDB). Its shareholders include the French Development Agency (AFD), the Nordic Development Fund (NDF), and the Spanish Agency for International Development Cooperation.