ETC Export Trading Cooperation is a European guarantee institution which acts as a partner for companies, banks and institutions operating in African countries, especially those adhering to the harmonized african business law OHADA (West and Central Africa).
ETC Export Trading Cooperation aims to provide technical and financial services for investment projects and international trade. The headquarters of the ETC Export Trading Cooperation group is based in Treviso (Italy) with its Regional Office in Cotonou (Benin), its Guarantee Fund in Douala (Cameroon) with branches and offices between Europe and Africa.
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ETC Export Trading Cooperation has its origins in 2010 with a project named Steel & Style Africa, promoted by Confindustria (Association of Italian Industrialists) with the patronage of the Italian Chamber of Commerce.
The aim was to facilitate Italian exports and industrial investments assisting the economies of sub-Saharan Africa region and serve African SMEs in need of European supplies, technologies and expertise.
The lack of information on the African markets by European companies and financial institutions led to the creation of ETC Export Trading Cooperation specializing in exports and investments in Africa.
ETC was born from the vision of the founding members who considered the Confirmation service as an ideal tool to approach the African markets.
The embryonic project was born on the initiative of Confindustria with the patronage of the Italien Chamber of Commerce
ETC Srl, the Italian Confirming House, was established to stimulate Italian exports and investments in Africa
ETC in partnership with SACE (Italian Export Credit Agency) has produces legal opinions as a tool to authorize payment instruments, guarantees as well as arbitrations and debt collection procedures
ETC opens its first subsidiary, ETC Surety SA in Benin (BJ) to secure the group investments and ensure debt collection
ETC initiates the process of joining SWIFT as a Non-Supervised Entity active in the financial industry (NOSU) with letters of recommendation from three banking institutions (Societe Generale, Crédit Agricole and Diamond Bank)
ETC benefits from the public intervention of Simest, the investment company of the Italian government, and Finest, the regional investment company for the northeastern regions of Italy
ETC finalizes the process of compliance with the SWIFT framework (Governance, AML, security IT and other rules for the financial sector) and obtains NOSU certification
ETC finalizes audit process with a European Credit Agency, ModeFinance to publish its first credit rating (B1+/BBB+) with the European Securities and Markets Authority (ESMA)
ETC launches its first instrumental consulting subsidiary to the Group in Douala
ETC buys back Simest and Finest shares for the benefit of new shareholders BGFIBank EUROPE and MPS Fiduciary. Creation of the Africa Regional Office – ETC sets up its regional office in Cotonou, Benin in order to be closer to its partners
10th year of the first legal entity of ETC
The 3 values of ETC Export Trading Cooperation
Through its “Responsible Growth” value, ETC wishes to assume and affirm its responsibilities in limiting the harmful effects of economic growth on people, their work, their environment and their ways of acting, in accordance with the 4 principles of the Global Compact United Nations:
o Respect for Human Rights
o Compliance with labor law
o Environmental responsibility
o Fight against corruption, terrorist financing and money laundering.
The vast majority of sub-Saharan African countries, for historical reasons, remain on the margins of financial services, the opportunities of which have favored the development of most regions of the world.
Through its action with businesses and financial institutions, ETC’s mission is to offer financial instruments likely to promote access for African economies to the same development opportunities as all other regions of the world.
The notions of cooperation and balance in international financial relations are prerequisites for ETC. These attitudes are indeed, guarantees of success in the treatment of transactions and other investments on the scale of several nations.