The Fund’s governing bodies have provided the institution with a rudder to promote the development of its activities. Indeed, during its 4th Ordinary Session held in Cotonou on June 22, 2012, the Board of Governors adopted the 2012-2015 Four-Year Plan proposed by General Management.
In essence, the aim of this plan is to increase the contribution and relevance of the Fund’s interventions to poverty reduction.
FAGACE’s future actions are therefore part of a vision that should make the institution a pan-African regional guarantee fund in the UEMOA, CEMAC and COMESA regions by 2023.
This vision is fundamentally in line with the relevant provisions of the preamble to the Fund’s Articles of Association. In order to achieve this vision, the Fund has set itself the following strategic objectives for the next four (04) years:
- Position FAGACE as a strategic partner in the development of member countries;
- Promote partnerships and popularize the Fund’s intervention instruments;
- Boost the Fund’s resource mobilization process;
- Diversify the Fund’s operational activities;
- Align the organization, operation and governance of the Fund with its strategy and accepted standards.
Specifically, this will involve :
- strengthen credibility and intervention capacity with development banks, notably BOAD, BIDC, BDEAC and EADB; commercial banks and regulatory bodies such as CREPMF and COSUMAF;
- continue to open up the Fund to CEMAC countries and other African states;
- resume and diversify operational activities;
- improve return on equity by 2014 ;
- consolidate the achievements of the PRCT ;
- improve the institution’s functional organization ;
- ensure that workloads match activity levels;
- strengthen the capacity of the Fund’s bodies through the presence of institutional investors alongside the States;
- open up FAGACE to emerging countries (BRICS).
The Fund’s new skills call for a review of its organization and operations. As a result, the organization chart has been rethought, with a more coherent grouping of units and a real recognition of the diversification of the Fund’s activities, giving priority to operational functions to the detriment of advisory functions.
Steering activities must foster the emergence of a results-oriented culture through the implementation of a strategic planning process built around financial planning and a budget linking objectives and resources.
The revitalized support activities should help to boost productivity and create an appropriate working environment, with improved skills management, real-time financial and accounting information, a high-performance information system, and internal and external communication to motivate all staff.
