Q. Who is Etihad Credit Insurance (ECI)?

ECI is a federal export credit company that aims to be a key stakeholder in the UAE’s economic sustainable development.

Our mission is leading efforts towards enabling a competitive, diversified, and sustainable economy by;

• Enabling non-oil trade & industry growth & development
• Supporting in-country value activities
• Facilitating UAE businesses growth and global expansion
• Ease trade financing activities

Q. What is ECI’s strategy for Africa?

Africa represents a high potential and strategic market for most exporters in the UAE. ECI is committed to support UAE exporters in their growth in African markets by providing them the capacity and access to information and identify these opportunities.

Q. ECI and ATI recently signed a reinsurance agreement. What is your view of this partnership?

The partnership is a great example of cooperation between ECAs to enable exporters from Africa and the UAE to find opportunities in both markets and provide them the insurance tools they require to trade safely. This cooperation is also a great tool to help companies access funding to grow and seize the opportunities in the two markets.

Q. Which are the top sectors in your African portfolio?

Healthcare, electronics, equipment and petrochemicals.

Q. What have been the greatest challenges in your ability to support business in Africa?

The main challenge is access to data to assess the credit worthiness of obligors and the changing risk profiles of some markets.

Q. What advice would you give to financiers and investors who are reluctant to become more involved in Africa?

Investors have to rely on real market knowledge rather than perception. There are huge opportunities in Africa and many markets perform well with very low default rate. Obviously, they have to work with local experts like ATI who provide access to reliable information and provide insight about their experience and track records on successful transactions.

Q. What risks and opportunities do you see emerging post COVID-19 environment – for African governments and for those doing business on the continent?

Supply chain issues and inflation posed a serious threat and challenges to overall trade globally and Africa was impacted too. While some countries benefited from higher energy prices, the main opportunity would be continuing to diversify sources of income and GDP of nations and attracting more capital to develop infrastructure and development projects.