Coface strengthening its presence in Africa

Coface is continuing its global expansion by extending its offering in Western and Central Africa. Following after Cameroon and Gabon, companies in Ghana, Ivory Coast and Senegal can now benefit from Coface credit insurance services. Like all Coface clients worldwide, they will have access to the Group’s international network and the sector knowledge of its underwriters.

In Ivory Coast and Senegal, Coface has concluded a technical partnership agreement with Axa, which will, for the first time, give companies in these two countries access to Coface’s credit insurance services,
detailed and comprehensive analysis of country, sector and credit risks, as well as protection from the risk of financial default of their clients.

In Ghana, Coface opened its 9th branch in the region. Ghanaian companies can therefore access these services, thanks to the technical partnership agreement signed by Coface with Activa International Assurances Ghana, a member of the ‘Globus’ network of African insurers.

In all these three African countries, Coface’s contribution to covering credit risk facilitates its clients’ access to bank loans as well as to the receivables purchase facilities offered by banks (non-recourse factoring).

Jean-Christophe Batlle, Deputy Director of the Mediterranean and Africa region, added: ‘We are the only credit insurer with a direct presence in 9 countries in Western and Central Africa and the only one to offer credit insurance services in 5 of them, enabling us to consolidate our leadership in the area as a whole. Our expansion to Ghana, Ivory Coast and Senegal is a further step forward in supporting the development of our clients in a commercially dynamic region that offers considerable growth potential.’

Coface now insures companies against the risk of financial default of their clients in 97 countries worldwide, offering in each of them services of risk prevention and guarantee, through direct presence or partnerships.

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