The African Guarantee and Economic Cooperation Fund (FAGACE) has been part of a voluntary self-assessment process for three (3) years for member institutions of the Association of African Development Finance Institutions (AIAFD).
For the 2022 financial year, and for the second consecutive year, FAGACE obtained, in accordance with the so-called NDPSE mechanism (Standards, Prudential Devices and Evaluation System) from the AIAFD, a rating of A+ with a compliance index of 91% .
The points of attention for the rating focused on:
- the governance ;
- operational management;
- And financial management.
This mechanism offers each member structure a platform for comparison with other Development Financial Institutions in the region.
Indeed, the AIAFD is an international organization created under the auspices of the African Development Bank (AfDB) with the aim of promoting economic and social development in Africa through cooperation between banks and financial institutions. It currently has 92 members. AIAFD has published NDPSE for Development Banks and Financing Institutions (DFIs) in Africa.
This score obtained by FAGACE above all reflects the achievements of the profound transformations observable and in working order within it for several years already.
FAGACE today is a strengthened governance model, operational and financial excellence in compliance with the most demanding prudential standards.
