Trade Agency Helps Ease Africa’s Debt Burden

The Africa Trade Insurance Agency;  regional body mostly concerned with provision of insurance cover to lending institutions doing business with African Governments, early this morning announced its continued intention to provide cheaper avenues for African Governments seeking to obtain foreign debt through the syndicated loans and the International bond market; avenues which for the moment account for 60 percent of the regions debt.

Alluding to the regions thirst for solutions to the problems bedeviling it the Agency’s chief executive Mr George Otieno expressed confidence that in future the agency would be the go to place for African governments wishing to raise capital for development expenditure.

This he confirmed would be made possible with the sustained growth which has remained high over the last 6 years. The agency posted a 55% increase in profits in the year 2017 and has since its inception in the year 2001 supported business in the region to the tune of US dollars 35 Billion.