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About Us
Ownership and Governance Structures

AGF is a company limited by shares incorporated under the business laws of Mauritius. It was founded by the government of Denmark through the Danish International Development Agency (DANIDA), the government of Spain through the Spanish Agency for International Cooperation and Development (AECID) and the African Development Bank (AfDB). Agence Française de Développement (AFD) joined AGF in 2015 followed by the Nordic Development Fund (NDF) in 2016. Investment Fund for Developing Countries (IFU) and KfW Development Bank joined AGF in 2018.


AGF was officially launched on June 2nd, 2012, in Arusha, Tanzania, by Dr. Donald Kaberuka, the former President of the African Development Bank (AfDB), which together with the governments of Denmark (through Danida) and Spain (through aecid), are the founding shareholders.
AGF’s key mandate is to assist financial institutions increase their financing to African Small and Medium Sized Enterprises (SMEs) through the provision of partial financial guarantees and capacity development assistance.


Vision and Mission

Vision : 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.



AGF is guided by the following core values:

  • Integrity: in our relationships and transactions with our clients and among each other, we are honest, trustworthy, reliable, transparent and accountable;
  • Customer first: we meet our internal and external customers’ expectations;
  • Creativity: we embrace new ideas and respond swiftly to changes in our environments;
  • Unity of purpose: we dedicate ourselves to pursuing the agreed common goals;
  • Right first time: we deliver on our commitments accurately and promptly.

Code of ethics

AGF is committed to the highest standards of ethical and professional conduct. AGF’s Code of Ethics (the “Code of Ethics” or the “Code”) provides basic guidelines of business practice, and professional and personal conduct, that every employee is expected to adopt and uphold.

  • We comply with various business laws and regulations wherever we operate;
  • We act ethically;
  • We care about one another;
  • We manage risks effectively;
  • We safeguard information;
  • We protect the assets of the organization; and
  • We invest in our communities.


Board of Directors


Management Team



Video Gallery
African Guarantee Fund Corporate Video
2017 AGF Annual Report
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