A delegation from the Fonds Africain de Garantie et de Coopération Economique (FAGACE) led by the Minister of Finance and Budget of the Republic of Congo, Mr Calixte NGANONGO, in his capacity as current Chairman of the Fund’s governing bodies, was received in audience by the Head of State of the Central African Republic, H.E.M Faustin-Archange TOUADERA, on June 9, 2019 in Bangui (Central African Republic).
In addition to the Chairman of the Board of Governors, the delegation included Mr Hilaire MAVOUNGOU, current Chairman of the Board of Directors, Mrs Minafou COULIBALY-KONE, Managing Director of FAGACE and Mrs Emmanuelle MIGAN, Regional Representative of the Fund for Central Africa.
During the audience, the Chairman of the Board of Governors recalled that the Central African Republic is a founding member of the institution, whose objective is to promote the economic and social development of its fourteen (14) member countries.
In view of this leadership by the Central African Republic, Minister NGANONGO reported on the current situation of FAGACE, the reforms and transformations undertaken, with results ahead of forecasts, confirming the Fund’s central place as a force for concrete solutions to the development and growth of SMEs.
The Fund’s specific approach to SMEs is fully in line with the reinforcement of support for member states in the new economic order underway both at regional level, through the CEMAC Economic and Financial Reform Program, and at continental level with the creation of the African Continental Free Trade Area (ACFTA).
On these subjects, the delegation benefited from the advice and high-level support of His Excellency, the President of the Republic, to take the Institution even further in its achievements.
