The Cameroonian was brought to this position at the end of the group's board of directors held recently.

Jules Ngankam is, since September 22, 2020, at the end of the Board of Directors, the new director of the African Guarantee Fund (AGF). It is a group whose main mission is to facilitate access to finance for SMEs to enable them to fully play their role as an engine of growth for African economies. This appointment follows his recent appointment as interim CEO of the group in early July 2020, when the founding CEO, Felix A. Bikpo, became Chairman of the Board of Directors.

According to an AGF memo, the promotion of the new CEO comes at a time when lenders across the continent desperately need amortization to support them when lending to SMEs. "I am grateful and honored to hold this position. AGF has succeeded over the years in making a difference in our continent's economy by unlocking financing for SMEs, and I hope to achieve even greater results," said Jules Ngankam. This Cameroonian, who joined the institution in 2013 as Chief Financial Officer, is a graduate of ENSAE in Paris in Statistics and Economics and ESSEC Business School in Paris. He also holds a master's degree in applied mathematics from Paris Dauphine University in France.

The African Guarantee Fund was established in 2011 by the Government of Denmark (represented by DANIDA), the Government of Spain (represented by the AECID) and the  African Development Bank (AfDB). The Agence française de développement (AFD) and the Nordic Development Fund (NDF) are now shareholders.