The African Guarantee and Economic Cooperation Fund (FAGACE) continues its expansion across the continent. It has opened its West Africa regional office in Dakar, Senegal. The official inauguration ceremony took place on Thursday, February 19, 2026. It was presided over by the Minister of Finance and Budget of the Central African Republic, Mr. Hervé Ndoba, who also serves as Chairman of the FAGACE Board of Governors, in the presence of, among others, the Minister of Finance and Budget of Senegal, Mr. Cheikh Diba, and the Director General of FAGACE, Mr. Ngueto Tiraïna Yambaye.

A new proximity strategy

Located in the Sacré-Cœur 1 district of Dakar, this West Africa regional office of the African Guarantee and Economic Cooperation Fund (FAGACE) is a three-story building. It is the beating heart of the pan-African institution's new local presence strategy. In addition to Senegal, this office will cover Mauritania, Guinea-Bissau, and Mali. It also plans, in the very near future, to extend its operations to the Republic of Guinea, The Gambia, and Sierra Leone.

This strategic geographic scope reflects the firm commitment of its Director General to be closer to member states, to listen to local financial institutions, and to act swiftly with project promoters, such as SMEs and microfinance institutions, among others. "Dakar, a strategic crossroads, the economic hub of West Africa, and a true gateway to the sub-region, naturally stands out as the ideal anchor point to strengthen our action," stated Mr. Ngueto Tiraïna Yambaye, Director General of FAGACE.

According to him, this establishment in the Senegalese capital will allow FAGACE to meet three major challenges, namely: operational agility, structural impact and economic inclusion.

The Director General of FAGACE also emphasized that the opening of this West African regional office of FAGACE is part of an unprecedented growth dynamic. “FAGACE has established itself as a key player in development financing in Africa. Indeed, our overall performance testifies to the confidence placed in our institution, with more than 3 trillion CFA francs in guarantees granted, enabling the mobilization of more than 6 trillion CFA francs in investments for our member states,” Mr. Yambaye explained.

Even better, he adds: “This performance is set to multiply. Indeed, I am particularly pleased to announce that the governing bodies have recently approved our new strategic plan, ‘Perspectives Africa 2030’. Its implementation, which began in 2026, marks a decisive turning point.”

Through this ambitious plan, the Director General of FAGACE intends to substantially increase its interventions in all member countries.

In this regard, Mr. Ngueto Tiraïna Yambaye recalled that this regional representation reinforces the current FAGACE system, which already includes: the representation of the CEMAC zone, based in Cameroon; the representation of East Africa, based in Rwanda; and very soon, the opening of an office in Madagascar.

The Government of Senegal reaffirms its willingness to support this dynamic

For the Senegalese Minister of Finance and Budget, this choice to establish a presence in Dakar validates the strategic effectiveness of FAGACE. "Yes, the strategic effectiveness that justifies this choice to establish ourselves here in Dakar, in order to foster the development of a dynamic and inclusive financial platform serving our regional economies. Hosting the FAGACE Regional Representation in Senegal is much more than a symbolic act. It reflects the desire to position Dakar as a dynamic and diversified financial hub and, more generally, as a true center that offers growth opportunities to economic actors in the sub-region and to investors from all backgrounds," emphasized Mr. Cheikh Diba.

In a context where the financing of infrastructure, SMEs as well as strategic and structuring projects constitutes a major development challenge, the guarantee provides a structural solution to this challenge and positions itself as a lever for amplifying financing opportunities, the Senegalese authority maintains that the physical presence of FAGACE in Dakar will strengthen: access to guarantee mechanisms for our companies; the mobilization of long-term financing, essential for the structural transformation of our economies; the attractiveness of national private and foreign direct investments; and finally, sub-regional economic integration.

Finally, the Senegalese Minister of Finance and Budget announced that the Government of Senegal, through his ministry, reaffirms its commitment to supporting this initiative. "We will remain a committed partner, ensuring that this representation fully contributes to structuring and strengthening the financing of our economies," Mr. Diba concluded.

"A decisive step in the institutional strengthening of our institution"

The Minister of Finance and Budget of the Central African Republic, Chairman of the Board of Governors of FAGACE, also emphasized the importance of the institution's presence in Dakar. "This strategic establishment here in Senegal marks a decisive step in strengthening our institution and embodies a strong vision: that of a rapidly expanding FAGACE, resolutely focused on operational efficiency. The coverage provided by this office in Senegal, Mauritania, Guinea-Bissau, Mali, and very soon Guinea, The Gambia, and Sierra Leone, reflects our ambition to broaden our impact and bring our services closer to national economies," stated Mr. Hervé Ndoba.

The Chairman of the Board of Governors of FAGACE also praised the remarkable results achieved by the institution, which, in his view, "clearly demonstrates the outstanding performance of the African Guarantee and Economic Cooperation Fund."

For his part, the Regional Representative for West Africa, Mr. Bassirou Ndaw, commended the leadership and vision of the FAGACE authorities and pledged to strengthen ties between his institution and its financial and technical partners. He emphasized that FAGACE's mission would be more widely publicized so that the economies of the member states in its region could benefit from its guarantee programs.

The meeting also noted the presence of FAGACE governors, FAGACE administrators, representatives of partner institutions, bank general managers, among others.