Kenyan, Mauritian experts address Zimnat trade credit conference

A high level conference on the role of trade credit insurance in promoting and supporting increased trade will be held on June 8 at Cresta Lodge in Harare.

The conference, which has been organised by the Zimnat Trade Credit Insurance, Bonds and Guarantees Division of Zimnat General Insurance will be addressed by local and continental trade credit experts.

The theme of the conference is "Embracing Innovative Trade Credit Insurance Solutions that Promote and Support Growth in Trade and Trade Finance for a Resilient Future".

The conference is intended to help promote greater understanding of trade credit insurance and the critical role that it can play in the resurgence of the country's economy.

"We hope it will encourage synergies between stakeholders involved in trade, finance and credit in promoting Zimbabwe's local, regional and international trade," commented Zimnat General Insurance Managing Director Mr Stanely Mazorodze

"There are immense investment prospects that a resurgent Zimbabwe economy is presenting. Trade finance is expected to play a critical role in successfully revitalising the country's economy.

"Trade credit insurance protects traders and financiers from the risk involved in offering credit payment terms in both local and international trade. It plays a critical role, therefore, in facilitating trade," he said.

The conference promises to be particularly relevant at the present time, with presentations by both local and foreign speakers focusing on issues related to a recovering economy and Zimbabwe's economic outlook, as well as infrastructural and mining development and the role of trade credit insurance and guarantees in promoting different aspects of trade and investment.

BancABC head economist James Wade will set the scene by addressing the conference on Zimbabwe's economic outlook and trade finance prospects.

The managing director of a Kenyan reinsurance company, Continental Reinsurance, Mr Souvik Banerjea, will speak on using trade credit insurance to improve the trade finance mechanism and export generation capacity within a recovering economy.

Mr Rahul Aggarwal, of Genesis Risk Managers in Mauritius, will talk about construction contract bonds and guarantees for infrastructural and mining development.

Zimnat Trade Credit Insurance, Bonds and Guarantees Division general manager Shepherd Tembo said the conference is expected to be attended by key decision makers in companies in a variety of sectors, including oil expressing, stock feed manufacturing, steel and foundry, rubber and plastics, printing and packaging, tourism and hospitality, wood and furniture, agro-industries, horticulture and mining, as well as fast moving consumer goods.

It is also expected to be attended by managing directors, chief executives, general managers, finance directors and managers, credit managers, credit controllers and marketing and sales managers from all sectors of the economy.

The conference is designed to promote collaboration in trade promotion and provide opportunities to share ideas.

In the light of the new possibilities for trade that are emerging with the opening up of Zimbabwe's economy, Zimnat General Insurance recently established its Trade Credit Insurance, Bonds and Guarantees Division as a stand-alone entity in Harare's Belvedere suburb.

Mr Tembo said the division hopes to help promote and facilitate exports through the trade credit insurance it offers. He said it was hoped the conference would demystify trade credit insurance and make it better understood, so that trade finance could be provided securely.