African Guarantee Fund for Small and Medium-sized Enterprises

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11-Jul-2018

Deepening Africa’s financial systems: African Development Bank promotes SMEs access to funds

The African Development Bank has approved an additional US$10 million equity investment in the African Guarantee Fund for SMEs. This support will enable the Fund to continue guaranteeing loans to small and medium sized enterprises across Africa, thereby stimulating private enterprise development and sustainable job creation. The African Guarantee Fund started operating in 2012. Designed and created by the African Development Bank in collaboration with the Danish Ministry of Foreign Affairs and the Spanish Agency for International Development Cooperation. The French Development Agency...
11-Jul-2017

AfDB, Islamic Development Bank sign new US $ 2 billion deal to fund energy, SMEs, human development programs

The African Development Bank (AfDB) and the Islamic Development Bank (IsDB) have signed a landmark agreement to strengthen partnership at country level. Both parties have agreed to jointly pull together the sum of US $2 billion over the next three years to finance projects in agriculture and food security, renewable energy, small and medium enterprises, and human development (health and education). To realize the shared objective of the agreement, the IsDB and the Bank agreed to each contribute US $1 billion over three years for joint activities focusing on these priority areas and...
27-Jun-2017

AfDB calls on credit providers to increase lending to meet demand by African MSMEs

The African Development Bank (AfDB) has called on financial markets to increase affordable loans and provide more diverse and innovative financing instruments to Africa’s micro, small and medium sized enterprises. Industrialization is one of the High 5s priority areas of the African Development Bank. Credit providers need to increase their lending by at least US $135 billion in order to meet demand by African Micro, Small and Medium-sized Enterprises ( MSMEs). In a statement to mark the United Nations’ Micro, Small and Medium-sized Enterprises Day, June 27, AfDB noted that...
31-May-2013

International Award Recognizes Innovative Use of Development Aid in Africa

The African Guarantee Fund (AGF), which was established as part of the Danish Africa Commission in 2008, was last night awarded the African Banker Awards 2013 in the category of “Financial Inclusion”. The prize was awarded during the annual meeting of the African Development Bank in Marrakech, Morocco. The award is an important acknowledgment of the key role that small and medium-sized enterprises play in fostering growth in Africa and of the potential of public-private partnerships. The President of the African Development Bank, Donald Kaberuka states: “The AGF has only been...
01-Jun-2012

AfDB supports access to finance for African SMEs with the official launch of the African Guarantee Fund

The African Development Bank Group (AfDB) President, Donald Kaberuka, announced today, at the AfDB Annual General Meetings, the official launch of the African Guarantee Fund (AGF), a market-friendly guarantee scheme designed to ease access to finance for African Small and Medium Enterprises (SMEs). The AGF, designed and funded by the AfDB in partnership with the governments of Denmark and Spain, will provide financial guarantees to financial institutions to stimulate financing to SMEs and unlock their potential to deliver inclusive growth in the region. The AGF is a truly public-private...
21-Oct-2010

Providing SMEs Access to Credit AfDB Approves USD 10 Million to African Guarantee Fund

Tunis, 20 October -The Board of Directors of the African Development Bank (AfDB) approved on Wednesday, 20 October 2010 in Tunis, a USD 10-million loan to the African Guarantee Fund (AGF) to enable small and medium enterprises (SMEs) gain greater access to credit. The AGF is an AfDB pan-African initiative set up in partnership with the Danish and Spanish foreign affairs ministries and their development agencies. The initiative was launched as a follow-up to last year’s Africa Commission Report which recommended the  strengthening of financial and technical support to SMEs in...