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Entrepreneur's Corner

Jules Ngankam: Pioneering Financial Inclusivity In Africa

BY Steve Biko Wafula · January 31, 2024 09:01 am

KEY POINTS

Ngankam’s leadership transcends beyond AGF. His approach serves as a blueprint for global financial institutions aiming to balance profitability with social responsibility. His strategies in risk-sharing, capacity building, and inclusive financing are lessons in sustainable and impactful banking.

Under the dynamic leadership of Jules Ngankam, the African Guarantee Fund (AGF) has emerged as a beacon of financial hope and inclusivity across Africa.

Ngankam, a Cameroonian statistician and economist engineer, has not just steered AGF towards new horizons but has also etched his name as one of the top 100 most influential leaders in Africa in 2023.

Transformative Leadership: The AGF Revolution

AGF, under Ngankam’s leadership, has made monumental strides in empowering SMEs across Africa. In just four years, AGF has unleashed a wave of financial liberation in 38 African countries through 85 financial institutions, benefiting over 5,000 SMEs. This is a testament to Ngankam’s visionary leadership and AGF’s commitment to economic growth and poverty alleviation in Africa.

Read Also: AGF And TechnoServe Partner To Boost Cashew Nut Sector In West Africa

Breaking Barriers in SME Financing

Historically, African SMEs have struggled with accessing finance. AGF, recognizing this gap, has revolutionized the lending landscape. By offering partial credit guarantees and capacity development, AGF has enabled financial institutions to extend their services to previously underserved SMEs. This strategic move has unlocked nearly $3 billion in financing, reflecting Ngankam’s astute understanding of the financial ecosystem.

Empowering Women Entrepreneurs

Ngankam’s leadership has been instrumental in launching the Affirmative Finance Action for Women in Africa (AFAWA) Guarantee. Addressing the $42 billion financing gap faced by women entrepreneurs, this initiative has unlocked billions in investment, marking a significant stride towards gender inclusivity in business.

Championing Green Financing

Under Ngankam’s stewardship, AGF has also pioneered the Green Guarantee, a novel approach to finance renewable energy and eco-friendly projects. This initiative aligns with global sustainability goals and underscores Ngankam’s commitment to environmental stewardship.

A Global Model of Financial Inclusivity

Ngankam’s leadership transcends beyond AGF. His approach serves as a blueprint for global financial institutions aiming to balance profitability with social responsibility. His strategies in risk-sharing, capacity building, and inclusive financing are lessons in sustainable and impactful banking.

The Road Ahead

Looking forward, Ngankam’s vision for AGF includes scaling up to unlock $10 billion in SME funding, particularly focusing on women-led businesses and green investments. His plan to expand AGF’s impact across diverse sectors like agriculture, sanitation, and digital innovation illustrates his forward-thinking approach to financial inclusivity.

Jules Ngankam stands out as a paragon of transformative leadership in the financial sector. His accomplishments with AGF highlight the power of innovative and inclusive financial strategies in driving economic growth and social development across Africa. His story is not just about financial triumphs but also about creating a more equitable and sustainable future for all in Africa.

Read Also: AGF Commits To Support SMEs Owned By Women In Kenya And Africa

Steve Biko is the CEO OF Soko Directory and the founder of Hidalgo Group of Companies. Steve is currently developing his career in law, finance, entrepreneurship and digital consultancy; and has been implementing consultancy assignments for client organizations comprising of trainings besides capacity building in entrepreneurial matters. He can be reached on: +254 20 510 1124 or Email: info@sokodirectory.com

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