Q & A CREDIT GUARANTEE INSURANCE CORPORATION( CGIC)
accessible, deliberate steps need to be taken to co-create our products together with SMEs, ensuring they are built around their unique challenges and realities – from limited cashflow to informal trading structures, etc. This collaborative approach will allow us to design cover options that are flexible, affordable, and directly supportive of business growth. Ultimately, our mission is to move beyond selling products; we’ re building partnerships that help African SMEs progress from surviving to thriving.
Trade credit insurance is a tool that allows us to bring these excluded groups into the formal economy.
How do you balance strong credit risk controls with enabling business growth?
Balancing strong credit risk controls while simultaneously enabling business growth is at the heart of what we do at CGIC. Our role isn’ t just to protect businesses from loss; it’ s also to give them the confidence to pursue opportunities they might otherwise consider too risky.
In many African contexts, businesses operate in environments where access to credit and financial protection is limited. By tailoring our credit risk solutions in collaboration with SMEs, we help unlock growth while maintaining financial discipline. It’ s about shifting the focus from saying“ no” to risk, to asking:“ How can we manage this risk together so your business can grow?”
Why is industry collaboration important for strengthening Africa’ s trade environment?
I believe industry collaboration is the cornerstone of a stronger and more resilient African trade environment. No single organisation, whether an insurer, bank, logistics provider or government agency can solve the challenges of crossborder trade alone. Collaboration allows us to pool expertise, share data, and build the trust and infrastructure that African businesses need to thrive. At CGIC, we view collaboration not as an option, but a responsibility.
How can trade credit insurance support job creation and inclusive economic growth?
At CGIC, we are deeply aware that a large portion of Africa’ s business landscape – particularly SMEs and informal traders – has historically been excluded from formal financial support. These businesses often struggle to access credit, manage risk, or scale sustainably, which in turn limits job creation and economic inclusion.
Trade credit insurance is a tool that allows us to bring these excluded groups into the formal economy. By providing protection against the risk of non-payment, we give SMEs the confidence to trade with new and larger customers, extend credit terms safely, and grow their operations without fear of sudden losses. This enables them to hire more employees, invest in skills development, and contribute meaningfully to their communities. ■
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