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Making export credit effective in Africa
10 September 2009
Jonathan Bell examines how effective the use of ECA-backed export credit has been within Africa through the economic crisis, and looks at recent examples of its use.
Read more:
ECA Africa
export credit Africa
crisis ECA Africa
infrastructure South Africa
Transnet
Charles Carlson
Myrjam Tschoeke
Piers Constable
This article appears in the September print edition of Trade Finance under the title: Increasing the range of options
While many other forms of trade finance have struggled or even floundered through the global crisis, export finance and the use of export credit agencies’ support has been conspicuous by its increasing involvement in the global trade make-up. But this cannot be said to be true across all regions. For sub-Saharan Africa (SSA) there are particular reasons why export credit agency (ECA)-backed export credit (export finance) has not bitten into the entire region to the extent many pundits would have expected. But there are exceptions – most notably South Africa – where export finance activity is strong.
Commenting on the level of ECA-backed business in the region, Charles Carlson, head of export finance MENA at Standard Chartered, based in London, says: “There are a number of transactions in the telecom and oil and...
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