Luanda: The Credit Guarantee Fund (FGC) has been acknowledged by the African Association of Development Financing Institutions (AAIDF) for its significant role in the Angolan financial ecosystem, particularly in facilitating access to credit for micro, small, and medium enterprises.
According to Angola Press News Agency, this recognition was cemented by awarding the FGC an integration certificate as an effective AAIDF member. The FGC now joins the ranks of the Angola Development Bank (BDA) and the Savings and Credit Bank (BPC) as one of the three Angolan financial institutions to become part of this prestigious association.
The AAIDF’s acknowledgment also highlights the FGC’s impressive portfolio of guaranteed projects and its transparent management of public guarantees. This integration represents a strategic advancement for Angola’s financial infrastructure, offering benefits such as expanded financing networks aimed at bolstering economic development through guarantees.
The membership provides technical training opportunities and knowledge exchange, which will enhance financial practices and strengthen the FGC’s market performance. It also offers the FGC greater visibility and credibility as a pivotal institution in Angola’s credit and economic development landscape.
On Monday, the FGC’s Chief Executive Officer, Luzayadio Simba, and Executive Administrator, Eduardo Mohamed, attended the AAIDF’s 50th workshop. This event provided a platform to reflect on the association’s progress over the past fifty years and to plan for its future role in funding and integrating development across the continent.
Under the AAIDF’s theme of “joining forces for a more sustainable and green future for the development of African financial institutions,” the association aims to fortify its strategic agenda for a robust African financial sector.
Additionally, the official opening ceremony of the Annual Meetings of the African Development Bank (BAD) is scheduled for this Tuesday. On Wednesday, CEO Luzayadio Simba and Administrator Eduardo Mohamed will participate in a conference titled “Mobilizing Capital: The Role of India in Catalyzation and Sustainable Growth of Africa,” an event organized by Banco India required Bank.
AAIDF’s 50th anniversary celebrations began last Sunday, in Abidjan (C´te d’Ivoire), with the meeting of its board of directors, an essential forum that evaluates the association’s strategic objectives, discusses the current state of members and aligns the working document for the General Assembly.