A local and international collaboration that sees faith in SA
HYDE PARK - Trade credit insurance company Euler Hermes gave members of the media some insight into the world of trade credit insurance at a press conference to launch their first-ever operations in South Africa at the Saxon Hotel on 21 May.
The company is a world leader in trade credit insurance and will partner up with the leader in South African corporate insurance, Allianz Global Corporate & Specialty (AGCS), through a collaboration which will see Euler Hermes utilising AGCS’s existing South African business relationships and in-depth knowledge of the local business community.
Newly-appointed country manager Gregory Nosworthy said, “As the global market leader, Euler Hermes is well-positioned to play a prominent role in helping lead South African and, in time, broader African companies and exporters grow their businesses, which in turn can only benefit Africans.”
“As we forecast that South African GDP [Gross Domestic Product] will rise to 2 percent this year and 3 percent in 2016, South Africa could unleash its growth and jobs potential by bridging its infrastructure and manufacturing gaps,” said Wilfried Verstraete, chairman of the board of management of Euler Hermes, who commented on a presentation prepared by Euler Hermes. The presentation provided a detailed focus on the growth opportunities in South Africa in the 2015/2016 financial year.
Chief economist at Euler Hermes Ludovic Sabran expressed great enthusiasm in the potential that the South African economy presents to the company and said, “In the medium term, good demographics and firmer commodity demand globally could continue to create opportunities for South African businesses.”
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