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Russia ready to set up its own rental company in Africa

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I am Annabelle Sampson and I work for The News Dept as an author for their news department. My main focus is on economy news, but I also cover other topics such as business, finance, and current affairs. My writing has been featured in prominent publications such as The Wall Street Journal, Forbes Magazine, and the Financial Times. I have a passion for learning more about economic trends and understanding how they affect businesses of all sizes. To stay up to date with the latest developments in the field of economics, I make sure to keep track of reliable sources like Bloomberg News or Reuters. In addition to my writing work, I often provide consultation services related to economic matters for clients both large and small.

Russia will establish its own rental company in Africa. This was expressed by Vasily Osmakov, First Deputy Head of the Ministry of Industry and Trade of the Russian Federation, at the “Legal response to economic difficulties” roundtable at the International Parliamentary Conference “Russia – Africa”.

Currently, the process of choosing a location for this company is ongoing. The supporting company will most likely be Gazprombank Leasing.

According to Osmakov, these measures are included in the plan to replace the national project “International Cooperation and Export”.

The deputy head of the department also talked about Russia’s plans to expand the insurance limits of the Russian Export Credit and Investment Insurance Agency (EXIAR) for African countries. Insurance and credit are the biggest barriers to suppliers going to Africa: Hedging exports to the continent from any financial risk is more expensive than insuring goods to “advanced” markets, he explained.

Source: Riafan

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