UK Export Finance (UKEF) has announced that it has joined ATI, the pan-African export credit agency (ECA). The move comes as the UK government looks to encourage more UK businesses to trade with African countries as part of the nation-wide ‘Exporting is GREAT’ campaign.
As an ATI member, UKEF will gain access to information about upcoming opportunities for exporters, as well as local knowledge of firms and projects. ATI will also provide a platform to raise awareness among project sponsors and buyers in African countries of the UKEF support available to importers of UK goods and services.
UKEF will be able to share risk with
other ATI-member countries in strategically important markets, increasing risk capacity for projects in African countries sourcing goods and services from the UK.
British High Commissioner to Kenya HE Nic Hailey said:
“The UK is a global leader in many of the sectors for which Kenya has greatest demand: infrastructure, advanced engineering, energy, ICT and defence and security. In these and other specialist areas, UK expertise can help accelerate Kenya’s development and economic growth.”
Louis Taylor, UKEF Chief Executive Officer, said:
“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.”
ATI has supported trade of over $17billion since 2003, providing insurance to secure traders against risks ranging from political instability to non-completion of a contract. Its vision is to make Africa a prime trade and investment destination.
more information visit African Trade Insurance (ATI) – www.ati-aca.org/index.php