Page 26 - issue 26

26 Business

BECI launches Medium and

Long Term Export Credit

Insurance

• Cover will enable Botswana engineers to tender in

other countries

Up until now, Government support
for medium and long-term export
“credit was not available in our
country. Government has since realized
the importance of this product and is
moving to providing hundred percent
reinsurance cover to BECI. This will now
enable BECI to underwrite export credit
finance for periods of more than and
in turn enable our entrepreneurs and
project promoters to pursue projects
of a capital nature outside Botswana
and/or participate in supplying items
to such projects. “These words were
being addressed to the media by the
Assistant Minister of Investment, Trade
and Industry Honorable Karabo Socraat
Gare during the launch of the BECI Mr Emilio Matthee from BECI giving insight on the insurance cover
Medium and Long Term Export Credit
Insurance Product.

The new Medium and Long Term
Export Credit Insurance Product allows
Botswana enterprises to expand their
businesses and upscale their production
and services beyond the borders
of Botswana. This will also enable
Botswana enterprises to tender for
projects or even participate in projects
in other countries.

The cover enables Botswana contractors
to offer extended payment terms to
foreign buyers and facilitates bank
finance for export credit loans. This
will eventually establish Botswana Panel Discussion hosted by BECI
as a new consideration and home

Issue 26 Feb-Mar 2020 www.engineermagazine.co.bw