ETC – Export Trading Cooperation, represented by its Vice President Enrico Mazzon, has officially joined the Global Network of the Guarantee Institution (GNGI) through a vote held during the recent annual event organized by the AECM in Warsaw from June 6th to 8th, 2024. This membership marks a significant step forward in our mission to support the economic development of businesses in our primary market, Africa. By bringing the benefits of this membership to the market in the context of trade and investment support, we aim to reaffirm our core values of financial inclusion, multilateralism, and responsible growth.
What is the GNGI?
The Global Network of the Guarantee Institution (GNGI) is a global network founded on June 24th, 2016, following the World Summit of Leaders of Guarantee Institutions held in Porto. This initiative was launched to address the growing need for improved access to credit for small and medium-sized enterprises (SMEs) worldwide, recognizing the crucial role of guarantee systems in supporting global economic development.
GNGI unites multilateral continental associations of Guarantee Institutions (MENA, AECM, REGAR, ACSIC). The network is coordinated by one or two members designated by consensus among its participants, ensuring shared management that represents diverse global perspectives.
GNGI serves as an information exchange platform for the sector, facilitating collaboration and strengthening the efficiency of guarantee systems. GNGI members meet annually at events organized by institutions such as ACSIC, AECM, REGAR, or MENA.
The Benefits of ETC’s Membership in the GNGI for African Businesses
ETC’s membership in the GNGI offers advantages that directly translate into benefits for African businesses:
- Access to Global Expertise: By joining the GNGI, ETC gains direct access to a vast knowledge base accumulated by guarantee institutions worldwide. This expertise allows ETC to adopt best practices and innovate in credit guarantee solutions. For African businesses, this means that the solutions offered by ETC will be among the most advanced, tailored to local realities while drawing inspiration from global successes. This results in better financial support and optimized credit conditions for African SMEs.
- Opportunities for International Collaboration: ETC’s membership in the GNGI opens the door to collaborations with prestigious international organizations, such as the World Bank Group and the OECD. These partnerships allow ETC to participate in global forums and initiatives on SME financing, which positively impacts African businesses. African SMEs indirectly benefit from the advancements and solutions developed during these collaborations, enhancing their access to financing.
- Economic Development: Through the improvement of credit guarantee systems that ETC can implement thanks to its GNGI membership, African SMEs will see their growth prospects strengthened. These systems are crucial for enabling businesses to overcome financial obstacles, invest, and grow, which stimulates the local economy and promotes job creation.
- Global Visibility and Influence: Membership in the GNGI increases ETC’s visibility on the international stage, positioning the company as a key player in the field of credit guarantees. For African businesses, this means greater recognition of their specific needs and better integration into global discussions on SME financing. This increased influence also allows ETC to advocate for the interests of African SMEs at a global level, attracting more resources and investments to the continent.
In summary, ETC’s membership in the GNGI is not only beneficial for ETC but also serves as a powerful tool to support and strengthen African businesses by providing them with access to global resources, financing, and development opportunities.
ETC’s integration into the GNGI marks an important milestone in our journey, enabling us to enhance our impact on economic development in Africa. By joining this global network, we reaffirm our commitment to promoting guarantee instruments and supporting businesses in their quest for growth and success. This membership is not only an honor for ETC but also a lever to amplify our impact in Africa.
