• Home
  • About Us
  • Contact Us
Friday, June 6, 2025
Star Lite News
  • Home
  • News
    • All
    • Business
    Olubunmi Tunji-Ojo-Public Holiday

    FG Declares Two Days Public Holiday For Sallah

    WAEC Candidate

    Tragedy in Ibadan: WAEC Candidate Killed by Stray Bullet During Police Chase

    Olubunmi Tunji-Ojo-Public Holiday

    FG Declares Public Holiday

    Catholic Priest-Kaduna

    Kidnapped Catholic Priest Freed in Kaduna unharmed

    EBS

    EBS to Launch New Flagship News Program “EBS Tonight” on May 5

    Public Holidays

    FG Declares Public Holidays for Easter Celebration

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Entertainment
    AMVCA

    AMVCA 2025 Awards: Full List Of Winners As Chioma Chukwuka, Femi Adebayo Win Best Actress, Actor

    Nathaniel Bassey

    Nigeria’s Gospel Music Maestro Nathaniel Bassey To Minister At Trump’s Inaugural Prayer Breakfast

    Doris Ogah

    Doris Ogah Becomes 45th Miss Nigeria

    Netflix

    Netflix Investments Give Life To Nollywood Projects

    BBNaija

    STREEZE become the third pair of housemates to be evicted from season 9 of the #BBNaija show

    "CHAINS - No Longer a Slave"

    CHAINS – No Longer a Slave” Set For Premiere In Abuja Today

  • Lifestyle
    • All
    • Food
    GTCO Food and Drinks Festival

    Announcing The 2024 GTCO Food And Drink Festival: A Celebration Of Authentic Flavours

    MKH staff celebrate Chairman’s Mother as she clocks 66…

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Business
  • Politics
  • World
No Result
View All Result
  • Home
  • News
    • All
    • Business
    Olubunmi Tunji-Ojo-Public Holiday

    FG Declares Two Days Public Holiday For Sallah

    WAEC Candidate

    Tragedy in Ibadan: WAEC Candidate Killed by Stray Bullet During Police Chase

    Olubunmi Tunji-Ojo-Public Holiday

    FG Declares Public Holiday

    Catholic Priest-Kaduna

    Kidnapped Catholic Priest Freed in Kaduna unharmed

    EBS

    EBS to Launch New Flagship News Program “EBS Tonight” on May 5

    Public Holidays

    FG Declares Public Holidays for Easter Celebration

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Entertainment
    AMVCA

    AMVCA 2025 Awards: Full List Of Winners As Chioma Chukwuka, Femi Adebayo Win Best Actress, Actor

    Nathaniel Bassey

    Nigeria’s Gospel Music Maestro Nathaniel Bassey To Minister At Trump’s Inaugural Prayer Breakfast

    Doris Ogah

    Doris Ogah Becomes 45th Miss Nigeria

    Netflix

    Netflix Investments Give Life To Nollywood Projects

    BBNaija

    STREEZE become the third pair of housemates to be evicted from season 9 of the #BBNaija show

    "CHAINS - No Longer a Slave"

    CHAINS – No Longer a Slave” Set For Premiere In Abuja Today

  • Lifestyle
    • All
    • Food
    GTCO Food and Drinks Festival

    Announcing The 2024 GTCO Food And Drink Festival: A Celebration Of Authentic Flavours

    MKH staff celebrate Chairman’s Mother as she clocks 66…

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Business
  • Politics
  • World
No Result
View All Result
Star Lite News
No Result
View All Result
Home Banking News

Ecobank, AGF Sign Transformative $200m Risk Sharing Agreement

starliteadmin by starliteadmin
November 19, 2023
in Banking News, Business
0
Ecobank/AGF
0
SHARES
0
VIEWS
Share on FacebookShare on WhatsAppShare on Twitter

Ecobank and the African Guarantee Fund (AGF) yesterday joined forces in a groundbreaking $200 million risk-sharing agreement aimed at catalyzing economic growth and supporting entrepreneurial ventures, including women-owned enterprises (SMEs) on the continent.

The two organisations signed a strategic partnership agreement yesterday on the sidelines of the Africa Financial Industry Summit (AFIS) in Togo, in the presence of their respective leaders.

The $200 million risk-sharing agreement marks the third renewal of Ecobank’s partnership with AGF. The initial guarantee, provided by AGF in 2013, covered seven countries with a total guaranteed portfolio of $50 million.

Ecobank Group CEO Jeremy Awori (L) and African Guarantee Fund Group CEO, Jules Ngankam exchange the $200m risk sharing agreement after it was signed in Lome, Togo.

Commenting on the partnership, Ecobank Group CEO, Mr. Jeremy Awori in a statement expressed enthusiasm about the potential impact on SMEs and the overall economic landscape, stating:

“Our enhanced partnership with the African Guarantee Fund marks a significant step forward in our commitment to supporting SMEs across Africa with affordable financing. Through this partnership, we are taking bold steps to enhance green financing and gender financing. In doing so, we aim to eliminate the rigorous and restrictive requirements for collateral, particularly hindering women-focused businesses’ access to credit.”

Also, the CEO, African Guarantee Fund Group, Jules Ngankam acknowledged the longstanding partnership between AGF and Ecobank Group and its transformative impact on the SME landscape:

“The renewal of our partnership with Ecobank Group to now span 27 countries is proof of the importance of risk-sharing mechanisms that banks should leverage to grow their SME portfolio. This partnership will catalyse close to $1 billion of financing for SMEs, who are the real drivers of growth in African economies.”
“Ecobank’s “Ellevate” program will also largely benefit from our “AFAWA Guarantee for Growth” facility to significantly boost financing of women led or owned SMEs,” he added.

In 2018, the scope of the guarantee expanded to encompass 14 countries, resulting in cumulative disbursements of $230 million since that time. The renewed partnership now extends to 27 countries within Ecobank’s African network, offering 50 coverage for qualifying SMEs across all target markets.

By leveraging Ecobank’s extensive network and financial expertise and merging it with AGF’s proven track record in risk mitigation, the collaboration aims to address the challenges faced by SMEs in accessing affordable financing.

Key highlights of the partnership include:

Enhanced 75per cent guarantee cover for Gender Financing and Green Transactions: Favourable terms have been set to ensure more women-led and green transactions are fast-tracked, incorporating reduced pricing.

Increased Lending Capacity: The $200 million facility allows Ecobank to significantly boost its lending capacity to SMEs, enabling the Bank to extend more credit facilities to SMEs seeking to expand, innovate, and contribute to job creation.

Risk Mitigation: AGF will play a pivotal role in mitigating the credit risk associated with lending to SMEs, fostering a more conducive environment for financial institutions to support these businesses without compromising their risk profiles.

Financial Inclusion: By channeling funds towards SMEs, the collaboration aligns with broader financial inclusion objectives, ensuring that a diverse range of businesses, including those in underserved and remote areas, can access the financial resources needed for growth.

The $200 million risk-sharing agreement is expected to have a ripple effect on various sectors, contributing to increased economic activity, job creation, and sustainable development across sub-Saharan Africa.

The risk-sharing agreement is positioned to become a landmark initiative in the financial landscape of Sub-Saharan Africa, demonstrating the collaborative efforts of key players in driving economic growth and fostering entrepreneurship.

Countries covered in the partnership, listed in alphabetical order, are: Benin, Burkina Faso, Burundi, Cameroon, Cape Verde, Central African Republic, Chad, Congo, Côte d’Ivoire, Democratic republic of Congo, Equatorial Guinea, Gabon, Ghana, Guinea Bissau, Guinea Conakry, Kenya, Mozambique, Nigeria, Rwanda, Senegal, Sierra Leone, South Sudan, Tanzania, Togo, Uganda, Zambia and Zimbabwe.

Tags: AFISAfrican Guarantee FundAfrican Guarantee Fund GroupAGFCEOEcobankEcobank Group CEOFinancial Industry SummitJules NgankamMr. Jeremy AworiPartnershipStarlitenews
Previous Post

MohBad: Naira Marley, Sam Larry Regain Freedom

Next Post

Polaris Bank Deepens Promotion Of SMEs In Nigeria, Sponsors 2023 Year End Fashion Souk With Eventful 

starliteadmin

starliteadmin

Related Posts

Zenith Bank Plc

ZENITH BANK RECOGNISED AS NIGERIA’S BEST BANK IN THE GLOBAL FINANCE BEST BANKS AWARDS 2025

by starliteadmin
June 5, 2025
0

Zenith Bank Plc has been named “Best Bank in Nigeria” in the Global Finance Best Banks Awards 2025, winning the...

Dangote Refinery

Dangote Refinery Symbolises Hope for Africa – ECOWAS President

by starliteadmin
June 1, 2025
0

Towering over the Lekki Free Zone on the edge of the Atlantic, the Dangote Petroleum Refinery is more than just...

Access Bank

Access Bank’s ₦193.5B Tech Spend Falls Short as Fraud Incidents Soar in 2024

by starliteadmin
May 21, 2025
0

In 2024, Access Holdings Plc-parent company of Access Bank-made a record-breaking ₦193.5 billion investment in technology to tackle financial fraud....

Fidelity Bank

10 reasons Fidelity Bank is unshakable in 2025

by starliteadmin
May 20, 2025
0

Fidelity Bank Plc has continued to solidify its reputation as one of Nigeria's most resilient and forward-moving financial institutions. With...

Dangote Refinery

Dangote assures of Petrol price stability despite the increase in crude oil price

by starliteadmin
May 19, 2025
0

Dangote Petroleum Refinery & Petrochemicals reaffirms that, despite the fluctuations in global crude oil prices, it has consistently reduced the...

Fidelity Bank

Why Fidelity Bank Plc Is Too Big to Fail

by starliteadmin
May 19, 2025
0

Several media platforms have gone to town with the news of the Supreme Court ruling on a dispute between the...

Next Post
Polaris Bank

Polaris Bank Deepens Promotion Of SMEs In Nigeria, Sponsors 2023 Year End Fashion Souk With Eventful 

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Posts

  • Tinubu and Timothy

    Prince Chukwudi Timothy Appeals For Dialogue Instead Of Nationwide Protest

    0 shares
    Share 0 Tweet 0
  • Peter Obi says victory of Christ the King College at World Affairs Challenge heartwarming

    0 shares
    Share 0 Tweet 0
  • Family reveals Ifeanyi Ubah’s burial date

    0 shares
    Share 0 Tweet 0
  • ACEACRES24: Akmodel MD Makes Presentations At The 2Days Event (Photos)

    0 shares
    Share 0 Tweet 0
  • Legends of Nollywood Financial Summit Is Here, Meet The Speakers: Apostle Anselm Madubuko, Mrs. Bukola Agbaminoja, Pst. Moji Bakare Asieru-sweet, Others

    0 shares
    Share 0 Tweet 0

Recent Posts

  • . Abdulhakeem Odegade Felicitates with Muslim Faithful
  • Fidelity Bank Brings Relief to Rivers State Community with Food Bank Initiative
  • ZENITH BANK RECOGNISED AS NIGERIA’S BEST BANK IN THE GLOBAL FINANCE BEST BANKS AWARDS 2025
  • Livestock Value Chain Actors Set to Tap Into $2.5bn FDI with Capacity Development from NIRSAL
  • FG Declares Two Days Public Holiday For Sallah
Starlite news icon

Browse by Category

Archives

  • Home
  • About Us
  • Contact Us

© 2022 | Crafted with ❤ by Claridan - Adsvance Digitals.

No Result
View All Result
  • Contact Us
  • About Us
  • Business
  • Politics
  • World
  • Entertainment
  • Lifestyle

© 2022 | Crafted with ❤ by Claridan - Adsvance Digitals.

  • https://starlitenews.com.ng/2024/10/27/dangote-backs-tinubus-cng-drive-invests-over-280m-in-trucks-infrastructure/
  • https://starlitenews.com.ng/2024/06/14/security-officers-foil-bank-robbery-attempt-in-abuja/
  • https://starlitenews.com.ng/2024/12/04/polaris-bank-partners-amtis-skills-place-to-empower-young-next-generation-designers/