News Regional30 Apr 2019

Japan:Government's new trade insurance seeks to drive Japan-Africa trade

As Chinese corporations ramp up their presence in Africa, the Japanese government is trying to keep pace by encouraging Japanese companies to venture into the rapidly developing region with a newly-created trade insurance programme. According to Nikkei Asian Review, the insurance will fully cover infrastructure-related exports and loans to Africa via a partnership between the government-owned Nippon Export and Investment Insurance (NEXI), the African Trade Insurance Agency and the Islamic Development Bank. An official announcement on this development will be made by Japan's minister of economy, trade and industry Hiroshige Seko as early as 9 May.

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