International credit insurance company targets expo

A credit risk insurance company whose role is to cover international investments in African countries is set to participate in the on-going expo at Gikondo. Cecilia Rague of African Trade Insurance Agency (ATI) an underwriter assigned to Rwanda, said that ATI is in liaison with Rwanda Development Board (RDB) to create awareness on political risk insurance and credit risk insurance. “We will be sharing a stand with RDB at the expo and we are targeting both local and international investors.” Rague told Business Times. Rwanda is among the 9 member states that ATI provides official investment and credit insurance. Other member states include Burundi, DRC, Kenya, Madagascar, Malawi, Tanzania, Uganda and Zambia. ATI has been in operations in Rwanda since 2006.“There has been a change in business this year compared to the previous years” Rague said. She added that the company is in a process of concluding a large transaction worth $10 million with an oil processing mill in Kayonza, Eastern Province. Kenya Commercial Bank (KCB) Rwanda will facilitate importation of equipments for the processing plant. Other projects in store that ATI is in discussions with potential investors include the construction of a tourist lodge, and coffee roasting mill. As cross-border transactions have constantly presented exporters with the challenge of how best to safeguard their contractual position against the threat of a particular government action, inaction or interference that would result in financial loss before. ATI’s Trade Political Risk Insurance will be covering this threat. The credit insurance cover will be targeting importers and exporters in the country. ”Exporters of goods or services who are concerned about the credit worthiness of their buyers prior any arrangements need the credit insurance cover,” Rague added. In case of non-payment by these buyers after shipment, ATI will offer a cost effective solution to these concerns. Any exporter domiciled in one of the ATI Member States and exporting to a buy outside Africa is eligible for credit insurance by ATI covering short term trade receivables usually not exceeding 120 days. According to Rague, ATI will reduce the cost of doing business in Rwanda. “With the low premium terms that we offer, both local and international investors should take advantage of ATI,” she emphasized. Ends

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International credit insurance company targets expo