UKEF Boosts Its Presence in Egypt

UK Export Finance (UKEF), the UK government’s export credit agency, has further increased its international business development network by hiring a senior trade representative in Egypt.

With an open and friendly business environment and expertise in sectors ranging from manufacturing and construction to services and technology, the UK is a trusted business partner for Egypt. UK trade with Egypt was worth nearly US$4 billion last year with a tremendous opportunity out there for growth.

In order to help ensure that no viable trade with the UK should fail for lack of finance or insurance, UK Export Finance (UKEF), the UK’s award-winning export credit agency, has appointed Mohamed Saad as its new country head for Egypt.

UKEF already has experience working in Egypt, providing US$2.4 billion in financing for two new monorail lines connecting the New Administrative City with East Cairo and 6th October City with Giza.

UKEF has up to US$1.4 billion available to help Egyptian buyers access the finance they need to trade with the UK, providing them with attractive long-term financing that makes sourcing from British companies more competitive.

Mohamed Saad, UKEF country head for Egypt, said, “UKEF already has an impressive track record in Egypt with the US$2.4 billion support for the construction of two monorail lines in Cairo. I am excited to build on this success by increasing awareness of UKEF’s offering in the Egyptian market, looking for opportunities to develop UK content in more transportation projects, as well as in water, education, and clean energy.”

UK Export Finance (UKEF), the UK government’s export credit agency, has further increased its international business development network with 4 new hires in North America, Africa, and Asia-Pacific.

These new appointments increase UKEF’s Country Head network to 15, operating on every habitable continent, with plans for 11 more hires in strategic markets around the world by 2022 and beyond.

Working alongside HM Trade Commissioners and British Ambassadors overseas, UKEF’s Country Heads work with overseas governments and multinational companies looking to buy from the UK to create trading opportunities for British businesses.

While these new country heads can work to support companies in all sectors, they have a particular focus on stimulating green and clean growth industries and sustainable projects in their regions as the UK hosts the UN climate change conference COP26 conference in Glasgow.

UK Minister for Exports, Mike Freer MP, said: “We are conducting the most ambitious trade policy program ever pursued by a major economy, with new free trade agreements providing improved access to markets around the world. From Houston to Manila, these new overseas finance experts will give UK exporters the edge in winning contracts in key strategic markets.

“With COP26 around the corner, I am delighted that our new country heads in the USA, Egypt, Malaysia, and the Philippines will bolster UKEF’s offering, with a particular focus on sharing British green expertise around the world.”

Richard Simon-Lewis, Director & Head of Business Development, Marketing & Communications at UKEF, said:

“The global economic recovery presents a tremendous opportunity for UK businesses, and these 4 new hires in our business development pision can help them seize it. The scope and breadth of our country head network give our exporters a vital leg-up in accessing overseas projects in these key markets, and I look forward to further expanding the network’s breadth and reach in the coming months.”