In a context where Italian exports to emerging markets have now surpassed those to the Eurozone, SACE presented the new “Frontier Markets” program in a new initiative dedicated to the markets of sub-Saharan Africa. The Program devised by SACE was created to respond to the challenge of identify the next emerging markets, the destinations not yet fully controlled by Italian companies, but able to offer the best growth margins to Made in Italy.
Tailored to the needs of SMEs, the Program makes insurance-financial products available to support exports and investments, the assistance of the international network offices and dedicated services, including:
– the identification and pre-assignment of banks and companies in the local markets, with the consequent reduction of the decision-making times of the transactions;
– financial solutions dedicated to the acquisition of commodities destined for the Italian supply chain;
– dedicated services to fully assess the consistency of the approach to individual markets and the various underlying risk profiles (credit, political, regulatory, environmental), adopting effective financial and insurance structures to support individual commercial and investment transactions;
– analysis of high-potential product sectors and reporting of the best business opportunities;
– constant monitoring of local markets;
– seminars and in-depth meetings on the territory.
Mozambique, Tanzania, Ghana, Kenya, Angola and Senegal are the protagonists of the first Frontiers guide. Not surprisingly, this area focuses on six key markets selected by SACE, Very different countries, still little explored, with significant growth prospects, characterized by not excessively small economic and demographic dimensions. To this must be added the fact that they represent capital markets in a developing phase, where the penetration of Italian exports still offers good growth margins, despite the often high risk profiles.
A perspective, that of the Frontiers Program, which is fully reflected in the operations of SACE: while representing 2% of the total exposure, the portfolio of insured operations in 2013 in sub-Saharan Africa recorded an annual growth of 62%, reaching 710 million euros. To strengthen its intervention capacity in the region, where it operates through the international office in Johannesburg, in 2009 SACE acquired a stake in theAfrican Agency for Economic Development (ATI – African Trade Insurance Agency) and activated a permanent desk at the headquarters in Nairobi.
