Israel doubles The insurance volume of companies investing in African countries

The Ministry of Economy and Industry, the Ashra Company and the Accountant General, invite Israeli companies to use their resources and expand exports to the Black Continent.
Eli Cohen, Minister of Economy and Industry: "The continent of Africa is an important destination for the Israeli industry and companies in which they can develop, grow and exploit the great potential of the continent. Economic and social relations. "Only recently, the State of Israel has crossed the $ 100 billion mark in exports and has set itself the goal of halving the $ 120 billion a year by 2020"
As a result of the strengthening of the relations between the African countries and Israel, which is reflected in the visits of the heads of state and reciprocal delegations and the great potential of Israeli companies in these countries.
The insurance volume of Israeli companies investing in African countries has so far reached $ 700 million, and the Ministry of Economy and Industry has decided to double the budget for Israeli companies, through which they will be able to double the volume of their deals.
Asha will provide guarantees to a wide range of African countries. Kenya ($ 150 million), Nigeria ($ 105 million), Uganda ($ 70 million), Ethiopia ($ 33 ​​million), Cameroon ($ 60 million), and others.
Today, demographic changes are increasingly leading exporters from around the world to realize that the future is in the emerging markets. Africa is a continent that slowly develops before our eyes, with many challenges but also opportunities that do not exist anywhere in the world. The negative image that has kept investment and international commercial companies changing, and local and international efforts to tackle incurable diseases, government corruption, heavy poverty and significant social problems are showing positive results. The continent has great potential as well as many governments with stable economy and a desire to flourish economically and improve the quality of life of residents.
It is estimated that in 35 years Africa's population will reach more than one billion people, making it one of the most populated and densely populated areas in the world. The growing population and the economic and demographic changes are fertile ground for the integration of solutions in the areas of infrastructure, energy, medicine, agriculture, water, digital and more.
In light of the strategy to strengthen relations between Israel and African countries and the program to promote trade relations between the two countries, the Ministry of Economy and Industry is working on several channels to help Israeli exporters operating in Africa:
* Two commercial attachés of the Ministry of Economy and Industry were opened this year in Africa: Bakra, Ghana and Nairobi, Kenya, in addition to the veteran commercial attachés in South Africa, which help new and old exporters in whatever is needed to operate in these markets.
* Israel signed an agreement with Power Africa, an affiliate of USAID, which acts as an umbrella organization for energy projects in Africa.
Asha operates in the field of credit insurance and medium- and long-term foreign trade risks, insures or guarantees commercial and / or political risks in export transactions in which there is long-term credit (more than one year). In addition, the Company insures investment by Israeli investors abroad against political risks and at the end of 2015 began to provide a service of issuing a reverse guarantee against bank guarantees for small and medium-sized exporters.
The Ministry of Economy and Industry and ASRA will hold a joint event on 5 December 2018, which will deal with Africa and the financial tools available to Israeli companies.