Welcome to the Ex-Im Bank Africa Update, a publication of the Export-Import Bank of the United States (Ex-Im Bank).
Ex-Im Bank is an independent U.S. government agency that helps finance the export of U.S. goods and services primarily to emerging markets throughout the world by providing loan guarantees and export credit insurance.
This e-mail publication highlights the Bank’s activities and continued commitment to expand trade with sub-Saharan Africa.

HIGHLIGHTS:

• Upcoming events
• Two new sub-Saharan Africa Advisory Committee (SAAC) members appointed
• Kenya opens for long-term transactions
• John Richter promoted to Senior Vice President, Small Business
• Rick Angiuoni joins Ex-Im Bank’s Africa team
• Featured transactions

Upcoming events

Two new sub-Saharan Africa Advisory Committee (SAAC) Members appointed

The members of the board of directors of Ex-Im Bank named two new members, and eight returning members, to SAAC. The committee, established by an Act of Congress, provides expert guidance in developing policies to strengthen Bank support of U.S. exports to Africa. 

Chairing the committee this year will be returning member Wayne A. Ramus, vice president of GE Capital Markets Corporate, Waukesha, Wisconsin.

The two newly appointed members are:  Donna Alexander, president, Bankers' Association for Finance & Trade (BAFT), Washington, D.C.; and Carla G. Campos, senior vice president and director of the Project and Export Finance team, HSBC Securities Inc., New York, N.Y.

The seven other returning SAAC members are: Vernon D. Darko, president and CEO of EquipXP, LC, Houston, Tex.; Bruce Fullerton, president, Africair, Inc., Miami, Fla.; Ambassador Joseph Huggins, founder, president and chief executive officer of The Huggins Group (THG), Fairfax, Va., and former U.S. Ambassador to the Republic of Botswana; Angela L. Rankin, credit manager, Electrolux Major Appliances - International Division, Pittsburgh, Pa.; David M. Roebuck, PE, president and co-founder of Armentrout Roebuck Matheny Consulting Group, Athens, Ga.; Marysue K. Shore, president, Global Business Strategies, Washington, D.C.; and Bert Ubamadu, managing director, Fairmont Capital Strategy Group LLC, Washington, D.C.

"Ex-Im Bank recognizes the value of receiving advice on the Bank's policies and programs directly from the U.S. companies that comprise our client base," said J. Joseph Grandmaison, a member of Ex-Im Bank's board of directors.  "That is even more important when it comes to the current credit crisis and the unique challenges of doing business in sub-Saharan Africa."

Kenya opens for Long-Term transactions

Ex-Im Bank has upgraded Kenya’s cover policy and we are now open in the short, medium and long-term in the public and private sector.

John Richter promoted to Senior Vice President (SVP) Small Business

Former Regional Director of Africa, John Richter, was named senior vice president of the small business division of Ex-Im Bank in December 2008.

John Richter is now responsible for leading all Ex-Im Bank activities to identify and educate U.S. small-business exporters in order to attract them to the Bank's product offerings. He chairs Ex-Im Bank's Small Business Committee and manages Ex-Im Bank's network of regional branches and the units engaged in outreach to minority- and woman-owned businesses, partner identification and training, as well as small business product development. He continues to have a special focus on bringing private sector practices and a client service orientation to Ex-Im Bank.

"John Richter's knowledge of international trade finance, combined with his enthusiasm and demonstrated rapport with small-business exporters, foreign buyers and our lender partners is an unbeatable combination," said James H. Lambright, Ex-Im Bank chairman and president.

John's 30 years of international management experience includes executive positions with Mercury Marine, a division of the Brunswick Corporation, where he was responsible for marketing, sales, and credit in national and international markets. He has also worked in that capacity for the Master Lock Company and a division of Uniroyal Corporation.

His broad sector experience includes chemicals, consumer goods, and hardware.

"His work with small businesses in that capacity has well suited him for this new position," Lambright said.

Prior to joining Ex-Im Bank John worked for the U.S. Trade and Development Agency as the regional director for Africa and the Middle East.

John received his undergraduate degree from the University of Wisconsin and his Masters of International Management from the Thunderbird Graduate School of International Management, specializing in finance and international business. He is originally from Fond du Lac, Wisconsin.

Rick Angiuoni joins Ex-Im Bank’s Africa team

With over 20 years of experience in international and export finance, Rick has joined Ex-Im Bank as the Regional Director for Africa in the Strategic Initiatives Division.  He will be replacing John Richter who was recently promoted to Senior Vice President for Small Business, and will be working with Benjamin Todd, Business Development Officer for Africa.

Prior to this position at Ex-Im Bank, Rick was Director of Export Finance with HSBC Securities in New York City where he oversaw all aspects of export credit finance, including business development, credit, structuring, negotiation, and financing documentation of export finance loans.  Rick has completed numerous project and export finance transactions in Nigeria, Ghana, South Africa, Rwanda, Egypt and Mauritius.  Before HSBC, Rick's international banking experience was with Bankers Trust and Chemical Bank.

Rick holds Bachelor and MBA degrees from the University of Notre Dame. He is married to Bernadette Gage and has two children, John and Jessica.

Rick can be reached at rick.angiuoni@exim.gov.

RECENT AUTHORIZATIONS

Ghana

• Ex-Im Bank issues a $23 million long-term loan to the Ghana Water Company for water treatment equipment and plant construction at the Kumawu-Mampong Water Treatment Works.  UEM Inc. of West Palm Beach, Florida was the exporter that worked with various U.S. suppliers.

South Africa

• Using an Ex-Im Bank FIBC policy, American Dryer Corporation out of Fall River, Massachusetts exported $150,000 of laundry equipment to Baker Perkins Laundraland in South Africa.  ATRAFIN, LLC was the lender of record.

Nigeria

• RZB Finance LLC received an Ex-Im Bank medium-term guarantee on a $4.5 million loan to Dana Airlines Limited for the purchase of an aircraft from AAR Aircraft Services   of Miami, Florida.  The Nigerian bank, Diamond Bank PLC, guaranteed Dana Airlines through Ex-Im Bank’s $1 billion Nigerian Banking Facility.

• The Nigerian company, C&I Leasing, acquired oil and gas machinery, equipment and tools from three Louisiana companies – Access Oil, Bilco Tools, and Superior Manufacturing & Hydraulics.  The $2.79 million purchase was facilitated by Connecticut’s Webster Bank and guaranteed through Ex-Im Bank’s medium-term loan guarantee program.

Nigeria and Ghana

• ABRO Industries of South Bend, Indiana used an Ex-Im Bank SBCL (Special Buyer Credit Limit) policy to export $11.5 million of automotive and industrial supply products and fire equipment to Coscharis Motors in Nigeria and Ghana.

We invite you to visit the Africa Portal directly at www.exim.gov/africa.  In addition, you may link to this portal from Ex-Im Bank’s main website at www.exim.gov.

If you have any questions, please email them to eximafrica@exim.gov.

Please share this publication with your associates, or suggest they subscribe online at: http://www.exim.gov/lists/subscribe.cfm.
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