Sub-Saharan Africa

(Click here to view a larger map)

Sub-Saharan Africa is a challenging and potentially powerful region of developing markets where Ex-Im Bank is leading the way for U.S. exporters.

FY 2011 was a historic year for Ex-Im Bank in Sub-Saharan Africa, with over $1 billion in authorizations for the first time and a 100 percent increase in the number of country markets where the Bank assisted in financing U.S. exports.

FY 2011 Sub-Saharan Africa Support

In FY 2011, Ex-Im Bank authorized nearly $1.4 billion – a historic high – to support U.S. exports to sub-Saharan Africa through all of its major products: $804 million in direct loans, $466 million in loan guarantees, $68 million in export-credit insurance and $40 million in working capital guarantees.

Ex-Im Bank’s FY 2011 authorizations for the region supported approximately eight percent of U.S. exports to sub-Saharan Africa.

The Bank provided financing for U.S. exports in more than 20 sub-Saharan African countries, including Angola, Ghana, Kenya, Nigeria, Rwanda, South Africa and Uganda.

Of Ex-Im’s nearly $1.4 billion in sub-Saharan authorizations, $442 million supported small-business exports, $24 million supported exports from minority-owned and woman-owned businesses, and $19 million supported environmentally beneficial exports.

Ex-Im Bank Support in Sub-Saharan Africa

(Click here to view as a static graphic)

Building Relationships with African Institutions

Ex-Im Bank retained strong ties with Nigerian banks, Angolan banks and regional banks such as the Preferential Trade Area Bank (PTA) in the East Africa Community. Ex-Im’s relationship with the PTA resulted in Ex-Im Bank’s first financing in Rwanda –  a large transaction supporting Boeing commercial aircraft to Rwanda’s national flag carrier, RwandAir.

Throughout FY 2011, Ex-Im Bank staff participated in international and national conferences highlighting the benefits of the Bank’s financing available for sub-Saharan Africa. These included Corporate Council on Africa events: the 2010 U.S.-Africa Business Summit and the 2011 Infrastructure Conference.

Chairman Hochberg led an Ex-Im Bank delegation to South Africa in November 2010 to support various U.S. exporters bidding on infrastructure contracts with South African state-owned companies. The trip resulted in two large authorizations for Eskom and Transnet.

Coordinating with the Other U.S. Government Entities

Ex-Im Bank was actively involved in the Presidential Policy Directive on Global Development and Partnerships for Growth. The Bank’s participation in this initiative was instrumental in further developing Ex-Im’s relationship with the Ghanaian and Tanzanian governments.

The Bank coordinated efforts with the U.S. Foreign Service, Foreign Commercial Service of the Department of Commerce and other U.S. government entities to encourage economic engagement pursuant to the Africa Growth and Opportunity Act (AGOA). Bank business development officers traveled to South Africa and Nigeria, among other countries in sub-Saharan Africa, and participated in trade-related events with the Foreign Commercial Service and the State Department.