UK Export Finance, the British export credit agency on Tuesday signed a deal with the African Trade Insurance (ATI), which will see the latter offer UK exporters information about growing markets on the continent.
As an ATI member, the export agency will now gain access to information about upcoming opportunities for British exporters, as well as local knowledge of firms and projects.
ATI will also provide a platform to raise awareness among project sponsors and investors in African countries of the UKEF support available to Kenyan importers of UK goods and services. “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,” said ATI chief executive officer George Otieno, after the partnership signing.
NEW BUSINESS OPPORTUNITIES
British High Commissioner to Kenya Nic Hailey said the deal would help British firms single out and capitalise on new business opportunities in Kenya.
“The UK is a global leader in many of the sectors for which Kenya has greatest demand including 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,” said Mr Hailey.
Britain in February announced a Sh74 billion fund to help Kenyans import goods from the UK. UKEF, through the fund, would seek to help coordinate the advance of loans to businesses and entrepreneurs to buy Britain-made goods, especially for infrastructure-related projects, ultimately boosting the import of UK products here.