“Guarantee Funds at the heart of financing the Africa of tomorrow”. This is the title of the book presented by the African Guarantee and Economic Cooperation Fund this December 9, 2022, during a press conference at the Golden Tulip hotel in Cotonou in the presence of the Board of Directors and Staff of the Fund as well as the Press.
It appears from the various communications that have taken place that three (3) reasons underlie the initiation of this work:
- First of all, the guarantee profession is not yet taught in schools and does not have a regulatory body strictly speaking in African countries.
- Then, this book was written as part of the 45 years of existence of FAGACE. The institution aims to popularize the profession of guaranteeing credits and loans in order to share its expertise in its capacity as a pioneer of guarantees in Africa.
- Finally, this conference was an opportunity to mark the solemn launch of the FAGACE Institute which piloted the project. Indeed, the FAGACE institute aims to be a think tank, an instrument for strengthening capacity for access to guarantee mechanisms. This institute is responsible for training, studies, research and technical assistance to promoters and technical support to member states. It sets up frameworks for reflection on the major economic, monetary and financial issues, as well as on the main challenges facing businesses in the Fund’s area of intervention.
During his remarks, the Director General of FAGACE specified that this first work of the Fund on “Guarantee Funds at the heart of the financing of tomorrow’s Africa” challenges political decision-makers and financial players in order to put financial institutions and banking services serving economic development and the population.
The opportunity was also taken to thank all the contributors as well as the project team for the remarkable scientific productions selected.
At the end of the conference, the Chairman of the Board of Directors of FAGACE, Mr. MAHAMADOU BACHIROU on behalf of his peers welcomed this initiative and congratulated the General Management as well as all the authors who contributed to the success of this work which now is part of the Fund’s assets.
The press conference ended with the symbolic delivery of a copy to the Chairman of the Board of Directors, thus marking the official release of the book and a new turning point in the influential communication strategy driven by the Fund since the launch implementation of its 2021-2025 Strategic Plan “The new momentum”.
