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Wednesday, July 17, 2024

ECI collaborates with Adex to propel technological progress in Angola

Etihad Credit Insurance (ECI), the UAE’s federal export credit agency, has partnered with the Abu Dhabi Export Office (Adex) to bolster the UAE’s position in global trade and innovation. This collaboration involves the signing of an insurance policy, aimed at supporting a digital transformation project in Angola. This initiative demonstrates the UAE’s commitment to advancing technology in Angola while fostering global business growth.

The partnership aligns with the shared goals of both organizations, focusing on securing funding for projects awarded to UAE-based companies. An example of this is the ‘Presight’ project, which received critical funding from Adex with ECI Insurance support, promising to enhance Angola’s technology sector. Moreover, this strategic initiative holds the potential for significant returns and contributes to the UAE’s in-country value.

The policy was officially signed by Raja Al Mazrouei, CEO of ECI, and Mohamed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development (ADFD) and Chairman of the Exports Executive Committee of Adex. This policy will provide substantial support for the platform’s implementation and its associated infrastructure, reaffirming ECI’s dedication to enhancing the UAE’s GDP by exporting specialized services and contributing significantly to the domestic economy.

Raja Al Mazrouei stated, “This collaboration with UAE industry champions underscores our joint vision for the future and the empowerment of UAE-based companies on a global scale. It reflects the global trust in the UAE’s dynamic economy and ECI’s pivotal role within it.”

Mohamed Saif Al Suwaidi added, “This policy signing highlights Adex’s commitment to driving technological progress in Angola while supporting our national companies. It enables companies like ‘Presight’ to expand beyond the UAE’s borders and strengthens our mission to enhance the national economy and solidify the Emirates’ global business hub status.”

ECI’s expanding engagement in Africa includes recent formalized agreements with leading banks and insurance companies in Ethiopia. These collaborations are strategically designed to unlock various trade and investment opportunities, promote innovative insurance solutions, and position UAE enterprises at the forefront of global market growth. They underscore ECI’s focus on fostering economic partnerships, enriching trade, and catalyzing sustainable business expansion across Africa.

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