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March 2, 2024

ECI & ADEX to support Angola’s digital transformation

Etihad Credit Insurance (ECI), the federal export credit agency of the UAE, has signed an insurance policy with Abu Dhabi Export Office (ADEX), which aims to support an initiative to implement a digital transformation project in Angola. 

The collaboration, which is in line with the shared objectives of both parties, aims to secure funding projects awarded to UAE-based companies. One such example is ‘Presight’ which successfully secured crucial funding from ADEX backed by ECI for the implementation of a project, which promises to boost the technology sector in Angola. Additionally, this strategic initiative, which holds the potential for substantial returns, amplifies the UAE’s in-country value.

The policy was formally signed by H.E. Raja Al Mazrouei, CEO of ECI and H.E. Mohamed Saif Al Suwaidi, Director General of ADFD and Chairman of the Exports Executive Committee of ADEX. This policy is set to provide substantial support for the platform’s implementation and its associated infrastructure. It also reaffirms ECI’s commitment to enhancing the UAE’s GDP through the export of specialized services, thus contributing significantly to the domestic economy.

H.E. Mohamed Saif Al Suwaidi, Director General of ADFD and Chairman of the Exports Executive Committee of ADEX, said that “The signing of this policy highlights ADEX’s unwavering commitment to drive the technological progress of Angola while bolstering our national companies. This collaboration not only enables companies to expand beyond the UAE’s borders, but it also fuels our mission to enhance the national economy and solidify the Emirates’ position as a global business hub.”

Showcasing its expanding business engagement in Africa, ECI has recently formalized three MoUs with top-tier banks and insurance companies in Ethiopia. These collaborations are strategically designed to unlock a multitude of trade and investment possibilities, driving the adoption of inventive insurance solutions, and positioning UAE enterprises at the forefront of global market growth. These partnerships underscore ECI’s focus on nurturing economic alliances, enriching trade, and catalyzing sustainable business expansion across Africa.