The African Guarantee Fund (AGF) received $74 million from GuarantCo, a fund established by Britain, Switzerland, the Netherlands, Sweden and Australia. This is to set a mechanism in infrastructure projects’ value chain in Africa.

AGF is thus expecting to boost its financing capacity for African SMEs specialized in the infrastructure sector. “The AGF is glad to be joined by GuarantCo to work on the entire value chain of infrastructure projects in Africa. We are looking forward to supporting other SMEs that work with key players in the infrastructure sector,” said Felix Bikpo (photo), AGF’s managing director.

Let’s recall that during the last six years, African Guarantee Fund issued financial guarantees valued at $690 million. This has enabled its partner financial institutions to issue loans estimated at $729m to 7,600 African SMEs.