Central Bank of Egypt’s USD 200 mn Africa export risk assurance company coming in 1Q2020

CBE’s USD 200 mn Africa export risk assurance company coming in 1Q2020: The Central Bank of Egypt (CBE) is set to launch a USD 200 mn risk assurance company to protect exporters doing business in Africa in 1Q2020, CBE Advisor for African Affairs Naglaa Nozahie tells the local press. The central bank is in the process of finalizing the procedures to set up the company. The CBE will be the main shareholder in the company, which was announced in July to support exports into Africa as part of Egypt’s strategy to improve its trade position. Latham and Watkins LLP is advising the CBE on the company’s establishment, and will advise on its management once it is up and running.