AGF was established in 2011 by the Government of Denmark (represented by DANIDA), the Government of Spain (represented by AECID) and the African Development Bank (AFDB), with a mandate of facilitating access to finance for SMEs to enable them fully play their role of driving the growth of African economies.

In 2015, four years after its founding, AGF concluded its first external growth operations with the acquisition of the Guarantee Fund for Private Investment in Africa (GARI Fund) for an amount of 35 million USD. At the end of this operation, the French Development Agency (AFD) became AGF’s fourth shareholder.

In 2016, the Nordic Development Fund (NDF) became AGF’s fifth shareholder. Under the leadership of NDF, AGF launched a Green Guarantee Facility to unlock financing for SMEs that invest in or market low-carbon technologies.

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In 2017, Fitch Ratings assigned an AA- rating to AGF making it the first Guarantee Fund in Africa to receive such a rating. With the exception of the African Development Bank’s AAA rating, no financial institution based in Africa is assigned such a high rating.

In 2018, the Danish Investment Fund for Developing Countries (IFU) and the German group KfW became AGF’s sixth and seventh shareholders respectively.

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The African Guarantee Fund – for Small and Medium-Sized Enterprises Ltd (AGF) was incorporated in the Republic of Mauritius on 28th March 2011 as a private company limited by shares in accordance with the Companies Act 2001. It has been granted a Category 1 Global Business License by the Financial Services Commission.

The registered office is located at C/o Rogers Capital Fund Services Ltd, 3rd Floor, Rogers House, No.5 President John Kennedy Street, Port Louis.

AGF is duly registered under the Companies Act of Kenya and has a place of business in Nairobi, Kenya. It also has a subsidiary, African Guarantee Fund pour les petites et moyennes enterprises S.A. (AGF West Africa) in Lomé, Togo, from which it conducts business in West Africa Region.

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Effective corporate governance is one of the core values of African Guarantee Fund. The Board of Directors (BOD) is at the core of AGF’s system of corporate governance and is ultimately accountable and responsible for the performance and affairs of the Company. The BOD is unreservedly committed to applying the fundamental principles of good governance – transparency, integrity, accountability and responsibility – in all dealings by, in respect of and on behalf of the company.

The directors are responsible for ensuring proper and sound corporate governance within the organisation. AGF upholds best practices in corporate governance. Our corporate governance permeates all levels of management and has guided AGF and created value for the benefit of shareholders.

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To be the leading non-bank financial institution which meets Africa’s financing provider’s needs, effectively serving SMEs while maintaining our uncompromised principal as we grow.