Zimnat to host trade credit insurance conference

ZIMNAT has invited experts from Kenya and Mauritius to discuss the benefits of trade credit insurance at a conference meant to promote and support increased trade in the country next week.

BY BUSINESS REPORTER

In a statement yesterday, Zimnat official, Stanley Mazorodze said the conference would promote the understanding of trade credit insurance and the critical role it can play in building an economy.

“We hope it will encourage synergies between stakeholders involved in trade, finance and credit in promoting Zimbabwe’s local, regional and international trade.
“There are immense investment prospects that a resurgent Zimbabwe economy is presenting.

“Trade finance is expected to play a critical role in successfully revitalising the country’s economy,” he said.

“Trade credit insurance protects traders and financiers from the risk involved in offering credit payment terms in both local and international trade.”

Foreign speakers invited to attend the conference will focus on issues related to a recovering economy and Zimbabwe’s economic outlook.

The experts will also touch on infrastructural and mining development in terms of the role trade credit insurance and guarantees in promoting different aspects of trade and investment.

Kenyan reinsurance company, Continental Reinsurance managing director, Souvik Banerjea and Mauritius-based Genesis Risk Managers’s Rahul Aggarwal are expected to attend the conference.

BancABC head economist, James Wade will lead the local contingent, which will comprise various managing directors, chief executives, general managers, finance directors and managers, and credit managers, from all sectors of the economy.

Zimnat trade credit insurance official, Shepherd Tembo said the conference will be attended by key decision makers from various sectors


“The conference is expected to be attended by key decision makers in companies in a variety of sectors, including oil expressing, stock feed manufacturing, steel and foundry, rubber and plastics, printing and packaging, tourism and hospitality, wood and furniture, agro-industries, horticulture and mining, as well as fast moving consumer goods,” he said.

Tembo said his division hoped to help promote and facilitate exports through the trade credit insurance it offers at the conference.

The division was setup towards the end of last month with a goal of offering trade credit insurance to cover the risk of payment default for traders supplying goods on credit to both local and foreign markets

In October 2017, the African Trade Insurance Agency set up shop in the country with the goal of providing local players with export finance, export credit risk insurance and finding buyers outside the country for exporters.

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