REGIONAL ROUND-UP
AFRICA APAC EUROPE MIDDLE EAST NORTH AMERICA
UK GOVERNMENT HELPS IT COMPANY BREAK INTO AFRICA WITH £ 900K UKEF SUPPORT
storage solutions for the data centre and technology industries . With its in-house logistics capabilities , it deploys the full spectrum of IT hardware solutions around the world and , with a turnover in excess of £ 20 million , nearly half its business is driven by exports .
With a number of deals in the pipeline , its partnership with Atlancis is expected to see Vespertec ’ s cloud hardware and software deployed across several sectors , including telecommunications , health and FinTech .
Steve Evans , Finance Director at Vespertec , said : “ With UKEF ’ s support , we are tapping into a fantastic opportunity in Africa as part of our new partnership with Atlancis . We are excited for the future and the opportunity to increase sales in new geographies and sectors .”
UK Export Finance ( UKEF ) has provided £ 900,000 of support to Atlancis , a Kenyan cloud services company , enabling it to forge a new relationship with Vespertec to unlock growth opportunities in Africa .
A Standard Buyer Loan Guarantee was offered by UKEF to guarantee an export credit loan from Apple Bank , supported by its UK servicer and arranger of the deal AF Capital . Both AF Capital and Apple Bank specialise in export credit debt .
Samir Parkash , Interim CEO of UK Export Finance , said : “ UKEF ’ s support will help Vespertec strengthen its exporting business and expand into new markets . It shows the huge trading opportunities open to British businesses . You don ’ t need to be a big company to access UKEF support . In fact , 81 % of the companies UKEF supported last year were small and medium-sized enterprises , the highest annual figure on record .”
Launched in February 2021 , the Standard Buyer Loan Guarantee allows UKEF to guarantee a loan of up to 85 % of a contract value , ensuring UK exporters get paid upfront and their buyers benefit from flexible repayment terms . The deal was brokered through UKEF ’ s international export finance executive who supports deals across East Africa .
Based in Stockport , Cheshire , Vespertec is a leading provider of server , network and
UK businesses , like Vespertec , are helping to accelerate the digitalisation of industries , creating more opportunities and fuelling growth across African economies .
Philip Kaye , Director at Vespertec , added : “ This deal is amongst a number of our recent successes that will create new roles in the business , strengthening our technical expertise and enabling Vespertec to meet the rise in demand for our products and services .”
Dan Njuguna , Founder and CEO of Atlancis , said : “ We ’ re pleased to be partnering with Vespertec to support Kenya ’ s technology ambitions . Through the collaboration , our customers will benefit from cutting-edge IT solutions that deliver real benefits for their business .” x
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