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

Former executive of the bank Barclays 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 Chief Financial Officer.

In 2013, this pan-African guarantee fund signed with the Groupement inter-patronal du Cameroun (Gicam) and a banking pool (SGBC, BICEC, Afriland First Bank, Ecobank, BGFI) a memorandum of understanding of 100 million dollars (about 60 billion FCFA), aimed at setting up a pilot project for the financing and support of local SMEs.

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