The extraordinary session of the Board of Directors of the Fonds Africain de Garantie et de Coopération Economique (FAGACE) held in Cotonou on October 03, 2019 enshrined the appointment of Mr. Basile TCHAKOUNTE as Acting Managing Director of the Fund.
This appointment is part of the dynamic of continuity of activities, consolidation and continuation of the Fund’s achievements following the departure of Ms. COULIBALY, who after having ensured for three (3) years a profound transformation of the Institution and restored its financial equilibrium with very fine growth prospects, was recalled to new duties in her country.
The handover ceremony took place under the chairmanship of Mr. Souariba GONFOULI, Chairman of the Board of Directors and in the presence of the Fund’s Staff, on Friday, October 04, 2019 at the Fund’s headquarters.
In his speech, the Chairman presented, on behalf of the Board of Directors, his congratulations to the outgoing Managing Director for the qualitative results achieved. Furthermore, in reaffirming their confidence and to mark the determination of the Authorities to support FAGACE in its momentum, he recalled the call for a new capital tranche in the amount of 25,000,000,000 FCFA approved by the 11th session of the Board of Governors, in July 2019, to enable the Fund to fully play its central role in supporting member states in the new continental economic order on the march.
Lastly, the Chairman thanked the Beninese authorities for their invaluable assistance and for all the thoughtfulness shown to the various delegations, which ensured the smooth running and success of these meetings.
Cotonou, October 04, 2019.
Chairman of the Board of Directors
Souariba GONFOULI
