Export credit agency UK Export Finance (UKEF) has become a member organisation of the African Trade Insurance (ATI) agency, facilitating UK exporters’ access to African markets.
The membership allows UKEF to share risk with other ATI member countries, increasing risk capacity for projects which source goods and services from the UK. UKEF will also benefit from greater information about opportunities for exporters to the continent, as well as local knowledge of firms and projects.
“UKEF’s ATI membership will help UK exporters unlock fast-growing markets in Africa. We will be able to offer even more comprehensive support to help UK companies win contracts in African countries, combining access to export finance with access to the local knowledge needed to enter new markets,” says Louis Taylor, UKEF CEO.
“A close partnership between ATI and UKEF will give African buyers and UK suppliers access to each other. UKEF and ATI will be able to identify and promote real business opportunities where UK and African companies can work together, and to provide the local market knowledge needed to facilitate trade,” echoes ATI CEO George Otieno.
The ATI counts 10 African countries as members: Benin, Burundi, Democratic Republic of Congo, Kenya, Madagascar, Malawi, Rwanda, Tanzania, Uganda and Zambia. Ethiopia’s membership was approved last year and is pending parliamentary ratification in the country.
Other member organisations of ATI include the African Development Bank, the African Reinsurance Corporation, Atradius Group, Sace, the Common Market of Eastern and Southern Africa (COMESA), the Eastern and Southern African Trade and Development Bank (PTA Bank) and the PTA Re Insurance Company (Zep Re).