AGF issues US$12m guarantee facility to Family Bank for MSME lending

KENYA – Family Bank, a commercial bank in Kenya, has secured KSh1.5 billion (US$12.98m) loan portfolio guarantee facility from African Guarantee Fund (AGF) to increase its loan book to micro, small and medium-sized enterprises (MSMEs), women-led businesses and climate-friendly investments. In addition to the extension of the credit guarantee facility, the African Guarantee Fund will provide a capacity-development assistance to…

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Stanbic Bank secures US$8.68m from AGF to support SMEs across the country

KENYA – Kenyan Small and Micro Enterprises (SMEs) are set to benefit from an KSh1 billion (US$8.68m) loan portfolio guarantee facility issued to Stanbic Bank Kenya by the African Guarantee Fund (AGF). The facility which targets women-owned businesses, as well as those in the sustainable energy sector is expected to impact thousands of SMEs across the country in the next…

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Proparco invests US$10m in AGF to increase finance access for women entrepreneurs

AFRICA – Proparco, has invested US$10 million in the African Guarantee Fund (AGF) to support the Affirmative Finance Action for Women in Africa (AFAWA) initiative launched to increase access to finance for women entrepreneurs. The AFAWA is a joint initiative of the African Development Bank and the AGF launched in 2016 and supported by France and the G7 member states.…

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Sidian Bank gets US$4.6m from AGF for SME loans

KENYA – Financial institution Sidian Bank has secured KSh500 million (US$4.6 million) from African Guarantee Fund (AGF) for onward lending to local Small and Medium Enterprises (SMEs). The bank said the agreement is part of the effort to bridge the financing gap facing SMEs in the country and that the partnership would support the growth of small businesses through the…

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AGF in pact with TADB to boost agribusiness financing in Tanzania

TANZANIA – The African Guarantee Fund for Small and Medium-sized Enterprises (AGF) and Tanzania Agricultural Development Bank (TADB) have signed a Memorandum of Understanding (MoU) that allows the bank to disburse up to US$20 million worth of loans to agribusinesses in the country. The MoU will enable the bank to guarantee SMEs in the agri-value chain in applying directly for…

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African Guarantee Fund receives US$20m capital injection from IFU for green SME financing

AFRICA – The African Guarantee Fund has received a capital increase of US$ 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. Inclusive of the additional US$20 million, the total Danish investment in AGF…

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Equity Group gets US$75m from AGF to support MSMEs

KENYA – Equity Group has received US$75 million from African Guarantee Fund (AGF) Group to support the bank scale up its lending activities to Micro, Small and Medium Enterprises (MSMEs) in Kenya, Uganda, Rwanda, and the Democratic Republic of Congo (DRC). The financial support will enable these businesses to recover and thrive in the post-Covid-19 era. “This agreement will see that MSMEs…

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AFAWA, AGF invest US$2bn in women-owned SMEs through de-risking and technical assistance measures

AFRICA – The African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA) program has partnered with the African Guarantee Fund (AGF) to provide US$1.3 to 2 billion loan for women-owned Small and Medium Sized Enterprises (SMEs) in Africa. This move, which will work with financial institutions to enhance their ability to lend to women, signals the launch of…

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AGF’S CEO Felix Bikpo retires as his deputy Jules Ngankam takes over the position

AFRICA – African Guarantee Fund for Small and Medium-sized Enterprises (AGF) Chief Executive Officer (CEO) Felix Bikpo, has decided to retire from his position after a 9-year tenor since its founding.   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 was however requested…

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African Guarantee Fund receives a US$33m capital injection from KfW Development Bank

AFRICA – Africa’s leading Guarantee Institution, African Guarantee Fund (AGF) has received an additional US$33m financing from German lender, KfW Development Bank, in a move that will catapult AGF’s efforts to enable African SMEs continue to play their critical role in driving Africa’s economy. This new financing comes at a time when the continent’s SME sector has been singled out…

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