{"id":11029,"date":"2020-07-24T17:58:08","date_gmt":"2020-07-24T15:58:08","guid":{"rendered":"https:\/\/www.fagace.org\/?p=11029"},"modified":"2024-02-07T10:39:33","modified_gmt":"2024-02-07T09:39:33","slug":"ceremonie-officielle-dinstallation-de-monsieur-ngueto-tiraina-yambaye-nouveau-directeur-general-du-fonds-africain-de-garantie-et-de-cooperation-economique-fagace","status":"publish","type":"post","link":"https:\/\/www.fagace.org\/en\/2020\/07\/24\/ceremonie-officielle-dinstallation-de-monsieur-ngueto-tiraina-yambaye-nouveau-directeur-general-du-fonds-africain-de-garantie-et-de-cooperation-economique-fagace\/","title":{"rendered":"OFFICIAL INSTALLATION CEREMONY OF MR. NGU\u00c9TO TIRAINA YAMBAYE, NEW GENERAL DIRECTOR OF THE AFRICAN GUARANTEE AND ECONOMIC COOPERATION FUND (FAGACE)"},"content":{"rendered":"

On Friday July 24, 2020, the official installation ceremony of the Managing Director of the African Guarantee and Economic Cooperation Fund, Mr. Ngu\u00e9to Tiraina YAMBAYE, took place at FAGACE headquarters in Cotonou, under the chairmanship of Mr. Hugues Oscar LOKOSSOU, FAGACE CEO, representing Mr. Romuald WADAGNI, Benin’s Minister of Economy and Finance, in his capacity as current Chairman of the Board of Governors.<\/strong><\/p>\n

The ceremony, which marked the launch of Mr. YAMBAYE’s term of office, was attended by the country’s authorities, numerous economic and financial partners, and Fund staff, and featured speeches by the incoming Managing Director and the Chairman of the Board of Directors.<\/p>\n

In his speech, Mr. YAMBAYE began by thanking the Beninese and Chadian authorities for their support at various levels, the Board of Governors and all the Fund’s stakeholders for the confidence placed in him, before briefly outlining the major projects on which his term of office would be based. These include modernizing the Fund, strengthening governance, developing cooperation with development partners and governments, and opening up and increasing capital to position FAGACE as a strategic development partner in Africa.<\/p>\n

In his address, the Chairman of the Fund’s Board of Directors, Mr Hugues Oscar LOKOSSOU, in turn solemnly congratulated Mr YAMBAYE on his brilliant appointment. He recalled that, at the end of the international recruitment process, the Board of Governors, at its 3rd extraordinary session, had unanimously decided to entrust the General Management of FAGACE to Mr. YAMBAYE for a term of four (04) years, in view of his wealth of experience and international renown.<\/p>\n

In introducing the General Manager to the audience, he noted that Dr. Ngueto Tira\u00efna YAMBAYE is a top-level economist specializing in international finance and financing strategy. He has over 25 years’ experience at international and national level. A former Minister of the Economy, Planning and Development in Chad, he was also Executive Director of the IMF (International Monetary Fund) for Africa, Commander of the National Order of several African countries including Benin, and Grand Officer of the CEMAC Order of Merit for services rendered in mobilizing resources for the benefit of the African continent.<\/p>\n

The ceremony was also an opportunity for the Chairman to reaffirm, on behalf of the Board of Directors and the Board of Governors, his full support for Mr. Ngueto Tiraina YAMBAYE, convinced that he has the skills and qualities needed to drive the Fund’s development and make it an instrument of economic and financial integration at the service of the economic transformation of member countries, and of Africa.<\/p>\n

The Fonds Africain de Garantie et de Coop\u00e9ration Economique is an international financial institution created on February 10, 1977 in Kigali by the OCAM Conference of Heads of State. Specializing in the promotion of public and private investment, it contributes to the economic and social development of its member states, and currently comprises fourteen (14) countries: Benin, Burkina Faso, Cameroon, Central African Republic, Chad, Congo, C\u00f4te d’Ivoire, Guinea Bissau, Mali, Mauritania, Niger, Rwanda, Senegal and Togo.<\/p>\n

Since its inception, FAGACE has made a significant contribution to the socio-economic development of its member states, notably through guarantees, direct financing, equity investments and interest-rate subsidies.<\/p>\n

The appointment of Mr. Ngueto Tira\u00efna YAMBAYE as the Fund’s 7th Managing Director marks a decisive turning point for the institution. Through this appointment, the main objective of the Board is not only to strengthen cooperation with financial partners and governments, but also to modernize the institution, accelerate the execution of development projects and deepen dialogue with the private sector and other technical and financial partners.<\/p>\n

To date, FAGACE interventions have mobilized over 2,000 billion CFA francs in the economies of member countries.<\/p>\n