After a nine-year tenure since the founding of African Guarantee Fund for Small and Medium-sized Enterprises, its Group Chief Executive Officer, Felix Bikpo, has decided to retire from his position.
According to a statement by AGF, Bikpo was, however, requested to continue offering his services to the company in a new capacity as board chairman. Pursuant to the recommendation of the shareholders, Bikpo was appointed to serve as chairman of the Board of Directors.
Reflecting on his tenure, Bikpo stated “My greatest satisfaction is that the financial sector has come to understand the role of the SMEs in driving economic growth and through our guarantee products have unlocked SME financing and ultimately had great economic and social impact on the continent.”
“The fact that we have been assigned a three-time exceptional AA- rating shows that we understood the gap and created a leader in the guarantee market. I am proud of what I am leaving behind especially for the coming generation,” he added.
At the level of the management, the board also resolved to appoint Jules Ngankam, the Deputy Group Chief Executive Officer, as acting Group Chief Executive Officer of the company.
Ngankam joined the company in 2013 as chief finance officer and was appointed deputy chief executive officer by the board on 20 April 2017. He has over 15 years of experience in banking and financial services with leading financial institutions.
Prior to joining the company, he worked for over eight years at Barclays Capital, the investment banking division of Barclays PLC, in various roles including rates strategist, rates trader and treasury vice-president.
He is a graduate of ENSAE in statistics and economics and of ESSEC Business School in business administration. He also holds a master’s degree in Applied Mathematics from the University of Paris Dauphine, France.
In his new capacity as Acting CEO, he said, “I am grateful to be part of AGF’s journey to support financial institutions and help them overcome the challenges they face in serving SMEs. AGF remains committed to continue delivering the best quality service to our partners especially now during this challenging period.”
