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The African Guarantee Fund (AGF), which was established as part of the Danish Africa Commission in 2008, was awarded the African Banker Awards 2013 in the category of “Financial Inclusion,” last week.
The prize was awarded during the annual meeting of the African Development Bank (AfDB) in Marrakech, Morocco. AfDB said the award was an important acknowledgment of the key role that small and medium sized enterprises play in fostering growth in Africa and of the potential of public-private partnerships. The president of the African Development Bank, Donald Kaberuka, was quoted in a statement as having stated: “The AGF has only been operational for a year, but is already showing good results. I am pleased that AGF has been given this award by the African banking community. Access to finance continues to be a major obstacle for financial sector development in Africa. It is paramount we support small and medium size enterprises to release the full potential for fostering inclusive growth, job creation and economic development in Africa.”
The aim of AGF is to create inclusive growth and job creation.