Japan’s Nippon Export and Investment Insurance (NEXI) has partnered with the Islamic Development Bank (IsDB), Islamic Corporation for the Insurance of Investments and Export Credit (ICIEC) and African Trade Insurance Agency (ATI) in a bid to boost trade in Africa.
The partnership is aimed at establishing a “co-operative framework to promote setting up projects” in Africa.
Trade and investment insurance training programmes will be facilitated by NEXI, for staff from IsDB, ICIEC and ATI, after which they will be tasked with creating a supportive environment for Japanese companies.
NEXI and ATI will also avail a Japan desk in Nairobi which will provide tailored risk mitigation support to Japanese companies and investors doing business in Africa.
According to NEXI, many governments in Africa still face difficulty in borrowing money from commercial banks without official export credits support, despite the continent’s strong demand for infrastructure.
Nippon Export and Investment Insurance is the official export credit agency for Japan whose main objective is to conduct insurance business of covering risks which arise in foreign transactions, and which are not covered by commercial insurance.
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