Women at the Heart of Development

The African Guarantee Fund (AGF) and the Mauritian government are strengthening their partnership to support the country’s Small and Medium-Sized Enterprises (SMEs), with a particular focus on three key sectors: the blue economy, agriculture, and renewable energy.

On Wednesday, April 23, an AGF delegation, led by its President Felix Bikpo and its Managing Director Jules Ngankam, met with the Minister of Industry, SMEs, and Cooperatives, Aadil Ameer Meea, in Port Louis. The objective was to discuss strategies to boost these sectors, which are vital to the Mauritian economy.

The AGF, a pan-African institution established in 2011, plays a major role in supporting the development of SMEs in Africa by providing guarantees and financial products. These businesses, essential to the Mauritian economy, represent 50% of employment and 17% of the island’s gross domestic product (GDP).

During this meeting, discussions highlighted the importance of strengthening cooperation between the two parties to stimulate the growth of these three strategic sectors. In particular, priority was given to the blue economy, which sustainably exploits maritime resources, agriculture, and the development of renewable energies. The AGF also emphasized the importance of supporting women-led businesses, a growing sector that contributes significantly to the local economy.

To support this momentum, the organization plans to work closely with local development partners, notably the Industrial Finance Corporation of Mauritius Ltd and the country’s Development Bank, to promote specific projects and ensure sustainable growth in the SME sector.