UKEF joins pan-African export credit agency
UK Export Finance (UKEF) has joined ATI, the pan-African export credit agency (ECA). The move comes as the UK government looks to encourage more UK businesses to trade with African countries as part of the nation-wide Exporting is GREAT campaign.
As an ATI member, UKEF will gain access to information about upcoming opportunities for exporters, as well as local knowledge of firms and projects. ATI will also provide a platform to raise awareness among project sponsors and buyers in African countries of the UKEF support available to importers of UK goods and services.
UKEF will be able to share risk with other ATI-member countries in strategically important markets, increasing risk capacity for projects in African countries sourcing goods and services from the UK.
British High Commissioner to Kenya HE Nic Hailey said: “The UK is a global leader in many of the sectors for which Kenya has greatest demand: infrastructure, advanced engineering, energy, ICT and defence and security. In these and other specialist areas, UK expertise can help accelerate Kenya’s development and economic growth.”
Shopping abroad made easier for Chinese tourists
Alipay, operated by Ant Financial Services Group, will be expanding into the European market, with a particular focus on UK, Germany and France. Alipay is the world’s leading third party payment and lifestyle platform, dedicated to using technology to provide inclusive financial services to individuals as well as small and micro businesses.
With this launch, Alipay simplifies payments for Chinese tourists utilising western businesses when travelling. In 2014, 117 million Chinese tourists travelled abroad spending $165 billion. This is forecasted to reach 234 million tourists by 2020, offering a vast opportunity for European retailers to connect to a new consumer base.
“Our customers have very high trust in our brand as Alipay is an essential part of their daily life,” said Alipay International president Sabrina Peng. “With this expansion user can now access Alipay in Europe, allowing them to enjoy a seamless experience when travelling. Whether it’s e-commerce or brick-and-mortar shops, we are expanding our presence internationally to enable our customers to access Alipay wherever they are.”
Alipay EU move - Chinese tourists spent $215 billion abroad in 2015, Alibaba wants much of this spending via its app https://t.co/HPsv3NHp77— AXA InnovationCampus (@AXA_IC) April 6, 2016