{"id":13805,"date":"2017-08-12T17:57:01","date_gmt":"2017-08-12T15:57:01","guid":{"rendered":"https:\/\/www.fagace.org\/?p=13805"},"modified":"2024-04-04T11:35:26","modified_gmt":"2024-04-04T09:35:26","slug":"interview-accordee-a-jeune-afrique-par-m-henri-marie-dondra","status":"publish","type":"post","link":"https:\/\/www.fagace.org\/en\/2017\/08\/12\/interview-accordee-a-jeune-afrique-par-m-henri-marie-dondra\/","title":{"rendered":"INTERVIEW GIVEN TO JEUNE AFRIQUE BY MR HENRI-MARIE DONDRA"},"content":{"rendered":"

A STRATEGIC PARTNER FOR DEVELOPMENT FINANCING IN AFRICA<\/strong><\/p>\n

Q1: Mr Henri Marie DONDRA, you are the Managing Director of FAGACE. Can you tell us a little about this pan-African institution?<\/strong><\/p>\n

HMD: <\/strong>First of all, I’d like to thank you for this opportunity to talk about the Fonds Africain De Garantie et de Coop\u00e9ration Economique (FAGACE), a financial institution specialized in promoting public and private investment.<\/p>\n

Created in 1977 with a capital of 5 billion FCFA, FAGACE’s aim is to contribute to the economic and social development of member states by guaranteeing medium- and long-term productive loans, subsidizing interest rates on public projects, extending credit periods, directly financing development projects, acquiring stakes in the share capital of national or regional companies, and managing funds on behalf of third parties. Its share capital is FCFA 200 billion. It has 14 member states and is headquartered in Cotonou, Benin.<\/p>\n

Q2: How would you sum up the Fund’s activities?<\/b><\/p>\n

HMD:<\/b> At 12\/31\/12, the Fund’s guarantee financing totaled 294 billion FCFA. Thanks to the leverage effect of this intervention mechanism, the Fund has injected significant financial resources estimated at over 1,200 billion FCFA into countries’ economies, in favor of development projects in priority economic sectors such as agro-industry, energy, industry and telecommunications. The private sector’s share represents 70%. The projects concerned have not only contributed to wealth creation, but also to the creation of thousands of jobs in member states.<\/p>\n

The Fund has also contributed to the financing of major projects through interest-rate subsidies. The Fund’s support for this type of intervention has enabled the mobilization of 240 billion FCFA. This has helped to improve the quality of life of the population, boost inter-regional trade and create additional jobs;<\/p>\n

Q3: What has changed since your appointment as Managing Director in 2010?<\/b><\/p>\n

HMD:<\/b> The last three years have been devoted to strengthening the Fund’s intervention capabilities, broadening its shareholder base and managing its project portfolio. As a result, the Fund’s share capital was increased from 100 to 200 billion, and 16.3 billion was called up. In addition, two new countries, Congo and Chad, joined the Fund with contributions of FCFA 06 billion and FCFA 05 billion respectively, increasing the number of member countries from 12 to 14.<\/p>\n

On the operational front, close monitoring of projects benefiting from the Fund’s interventions contributed to positive results in 2010-2011 and even 2012. All this with the constant support of the Board of Directors, which has set up an Audit Committee whose essential mission is to control the financial and accounting management of the Fund.<\/p>\n

Q4: There is an imbalance in the interventions in member countries, particularly in your country, the Central African Republic.<\/b><\/p>\n

HMD:<\/b> You’re quite right, the Fund’s interventions in CAR remain low, despite our firm commitment to supporting the most disadvantaged countries. As you know, an institution’s support for a country depends on its economic dynamism.<\/p>\n

Unfortunately, the CAR is still in the grip of a series of political and economic crises that are not conducive to the emergence of economic operators, particularly private operators, or to the implementation of projects that could benefit from our assistance.<\/p>\n

Q5: What do you think of the latest events in your country?<\/b><\/p>\n

HMD: I was deeply saddened by the politico-military crisis, which has moved up a notch. Unfortunately, it didn’t have to come to this. However, I welcome the Libreville agreements, which have calmed the situation. I would like to urge my compatriots to show tolerance for a united Central African Republic, in order to fight effectively against the economic ills that are mortgaging the country’s development.<\/p>\n

Q6: Your final words, Mr. Managing Director.<\/b><\/p>\n

HMD:<\/b> As part of the implementation of its 2012-2015 strategic plan, FAGACE remains open and available to support the financing of both public and private projects in all sectors (agriculture, livestock, industry, energy, telecommunications, transport, tourism, hotels, health, education, basic infrastructure). In 2013, the Fund’s operational capacities will be strengthened in part by the mobilization of new resources, notably on the CEMAC and offshore financial markets, which should lead to an increase in the Fund’s contributions in all its member states in the short and medium term.<\/p>\n","protected":false},"excerpt":{"rendered":"

A STRATEGIC PARTNER FOR DEVELOPMENT FINANCING IN AFRICA Q1: Mr Henri Marie DONDRA, you are the Managing Director of FAGACE. Can you tell us a little about this pan-African institution? 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