Only some one hundred Tunisian companies have had a percentage of insurance premiums for exports to sub-Saharan African countries covered by the State since last October, the date of entry into force of Decree Law No. 2022-66 of October 19, 2022 on this measure, said Technical and Commercial Director of the Tunisian Company of Foreign Trade Insurance (COTUNACE) Nizar Bezzai. In a statement to TAP on the fringes of a seminar on “Export credit insurance: for risk-free exports,” organised by the Tunis Chamber of Commerce and Industry (CCIT) in partnership with COTUNACE, Bezzai pointed out that the decree law in question entitles Tunisian companies to 50% cover of insurance premiums for export insurance contracts under Article 101 of the Insurance Code relating to export operations intended for the sub-Saharan African market. “This measure, which expires on October 31, will be renewed for a further year, and a study is underway to assess its impact,” he said, adding that few companies had signed up to it because of the global crisis. Bezzai further underlined that more than 340 Tunisian companies are insured by COTUNACE, which offers a range of products focusing on risk prevention, recovery and compensation. Speaking at the event, CCIT President Mounir Mouakhar called on Tunisian companies to make the most of the opportunities offered by the opening up of the European, African and Arab markets. He emphasised the importance of the African market, notably following the entry into force of the African Continental Free Trade Area (AfCFTA). He assured that through its network of chambers of commerce, the CCIT can facilitate Tunisian companies’ access to the African market, which is very promising. “Africa will be the engine of global growth in the coming years,” he claimed. Mouakhar also underscored the importance of insurance for exporting in complete safety. “Today’s risks are increasingly high, and it is imperative for companies to insure themselves properly in order to improve their performance,” he said, stressing the importance of COTUNACE’s role in securing export operations. The seminar, attended by business leaders and representatives of banking institutions, aims to further the assessment of export credit risks and to protect Tunisian companies against the risks of non-payment and market interruption of commercial or non-commercial origin.
Source: Agence Tunis Afrique Presse