The African Export-Import Bank (Afreximbank) and the
Export Credit Insurance Corporation of South Africa (ECIC) has signed a
memorandum of understanding for a $1billion financing programme to
promote and expand trade and investments between South Africa and the
rest of Africa.
Export Credit Insurance Corporation of South Africa (ECIC) has signed a
memorandum of understanding for a $1billion financing programme to
promote and expand trade and investments between South Africa and the
rest of Africa.
Under the terms of the South Africa–Africa Trade and Investment
Promotion Programme (SATIPP), Afreximbank and ECIC will work together to
identify, prepare and appraise trade transactions and projects; explore
co-financing and risk-sharing opportunities; and share knowledge, with
particular emphasis on intra-African trade matters, through technical
cooperation, staff exchange, research and joint events.
Promotion Programme (SATIPP), Afreximbank and ECIC will work together to
identify, prepare and appraise trade transactions and projects; explore
co-financing and risk-sharing opportunities; and share knowledge, with
particular emphasis on intra-African trade matters, through technical
cooperation, staff exchange, research and joint events.
Benedict Oramah, president of Afreximbank, said that the joint
initiative would support businesses through capacity building and market
information initiatives and would help small and medium-sized
entrepreneurs to join regional supply chains.
initiative would support businesses through capacity building and market
information initiatives and would help small and medium-sized
entrepreneurs to join regional supply chains.
Oramah added that it would also provide advisory services and guarantees
to South African investors seeking trade and investment opportunities
in Afreximbank African member countries.
to South African investors seeking trade and investment opportunities
in Afreximbank African member countries.
The signing ceremony also served as a platform to introduce and discuss
the Intra-African Trade Fair (IATF) being organised by Afreximbank in
Cairo, Egypt, in December 2018.
the Intra-African Trade Fair (IATF) being organised by Afreximbank in
Cairo, Egypt, in December 2018.
Kutoane Kutoane, chief executive of ECIC, said: “We realise that one of
the best ways to enhance our exporting capabilities as a country is by
intensifying mutually beneficial trade with the rest of the continent.
the best ways to enhance our exporting capabilities as a country is by
intensifying mutually beneficial trade with the rest of the continent.
