ATI and Sace forge ties

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22 June 2010

Italian export credit agency Sace and Africa Trade Insurance Agency are furthering their ties.

Italian export credit agency Sace’s head of sub-Saharan Africa, Michael Creighton, has been elected to the board of African Trade Insurance Agency (ATI). The decision follows Sace’s $10 million investment in the African political and trade credit risk insurer last July. In a statement at the time Creighton commented that his election would “further reinforce trade and investments between Italy and Africa.” This has certainly been the case.

Creighton tells Trade Finance: “We at Sace try and get involved in a range of deals, from big to small. To give you an idea, in 2009 we closed a Eu74 million ($90.5 million) transaction in Nigeria involving an oil platform from the supplier Bumiarmada; a Eu14.7 million supply of ATR aircraft...

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