CBE to set up by year end risk assurance company for Africa-bound exports

The Central Bank of Egypt (CBE) is planning to set up by the end of December a risk assurance company to protect exporters doing business in Africa, a CBE official told the local press. The CBE is currently finalizing the company’s organizational and shareholder structure, for which the African Export-Import Bank has offered recommendations. The company is meant to support exports into Africa as part of Egypt’s strategy to improve its trade position.