African Guarantee Fund CEO Jules Ngankam [David Gichuru, Standard ]African Guarantee Fund on Monday received a capital increase of Sh2.145 billion (USD 20 million) from the Danish Investment Fund for Developing Countries (IFU) to facilitate green SME financing in Africa. The capital increase is partially financed by the Danish Government, as part of the Danish “COVID-19 Development Assistance” package. Including the additional Sh2.1 billion, the total Danish investment in AGF amounts to Sh7.7 billion. The capital increment into the African Guarantee Fund will increase the Fund’s capacity to unlock financing for Small and Medium Enterprises (SMEs) in Africa. “The initial Danish capital injection into the African Guarantee Fund not only generated economic and social impact but also helped to attract more capital from other Development Finance Institutions,” said AGF’s CEO, Jules Ngankam.

Source: Standard Digital May 17, 2021 13:11 UTC