After a 9-year tenor since the founding of African Guarantee Fund for Small and Medium-sized Enterprises (AGF), Group Chief Executive Officer Felix Bikpo decided to retire from his position.

Bikpo was however requested to continue offering his services to the Company in a new capacity as Board Chairman.

Pursuant to the recommendation of the shareholders, Bikpo was appointed to serve as Chairman of the Board of Directors as of July 1, 2020.

Bikpo said: “My greatest satisfaction is that the financial sector has come to understand the role of the SMEs in driving economic growth and through our guarantee products have unlocked SME financing and ultimately had great economic and social impact on the continent”.

“The fact that we have been assigned a three-time exceptional AA- rating shows that we understood the gap and created a leader in the guarantee market. I am proud of what I am leaving behind especially for the coming generation” he added.

The Board of the Fund has appointed Jules Ngankam, Deputy Group Chief Executive Officer, as Acting Group Chief Executive Officer of the Company as of July 1, 2020.

Ngankam joined the Company in 2013 as Chief Finance Officer and was appointed Deputy Chief Executive Officer by the Board on April 20, 2017.

He has over 15 years of experience in banking and financial services with leading financial institutions.

Prior to joining the Company, Ngankam worked for over eight years at Barclays Capital, the investment banking division of Barclays plc, in various roles including rates strategist, rates trader and treasury vice-president.

Ngankam, a Cameroonian national, is a graduate of ENSAE in statistics and economics and of ESSEC Business School in business administration.

He also holds a Master’s degree in Applied Mathematics from the University of Paris Dauphine in France.

Ngankam said: “I am grateful to be part of AGF’s journey to support financial institutions and help them overcome the challenges they face in serving SMEs. AGF remains committed to continue delivering the best quality service to our partners especially now during this challenging period.”