KEPSA signed a memorandum of understanding (MOU) with Bergs & More Limited on 1^st March 2022 at the KEPSA offices. The MOU was signed by the KEPSA CEO Ms. Carole Kariuki and Mr. Eugenio Bettella – Partner, Bergs & More Limited and witnessed by Mr. Timothy Odongo – KEPSA Business Hub Manager, Mr. Jao Ramos – Business Developer Bergs & More and Ms. Lucy Kamau – Bergs & More, Kenya office.

The MoU will be very instrumental in unlocking services provided by Bergs & More which include scouting activities for business opportunities, assistance in sourcing financing and relevant legal and tax consultancy in the implementation of business projects, during the negotiations with national and international counterparts and in the event of possible disputes.

• Business Advisory – Strategic advisory and operational support to businesses, due diligence on the projects’ feasibility, advisory on financial investments obtainment and consultancy in the negotiation of private and public financing.
• Compliance, IP & Data Protection – Integrated consultancy to adapt the Client’s organizational structures and activities to EU and international regulations, covering also the whole life span of the IP rights from their registration to their transmission and protection.
• International Commercial Law -Consultancy in drafting, revising and negotiating national and international commercial contracts, covering all the main areas of traditional and innovative commerce.
• Meet and Greet (M&A) – Complete assistance to companies and international groups in corporate matters as well as advisory services to stakeholders and companies in both day-to-day operations and extraordinary transactions.
• Tax Advisory – Tax advisory on registrations, compliance and other international tax issues and tax law requirements and consultancy on the various obligations and implications thereof regarding the Client’s businesses and investments.

Sustainable Finance for KEPSA Members

Through this agreement, KEPSA members will be able to unlock finance from international bodies as follows:

• SACE and/or EH offer different financing solutions for African companies
• Contract-tied financing: Italian/German suppliers identified -Companies can get access to international financing in hard currencies at competitive rates to purchase capital and quasi-capital goods and services from Italy and or Germany
• Untied financing: Italian/German suppliers yet to be identified -Through the Push Strategy companies can obtain untied medium / long-term loans at competitive terms to increase the procurement of goods and services from Italy/Germany.

Suppliers Credit

Features

An insurance cover against the risk of payment default that the Italian exporter undertakes when granting deferred payments. Exporter can insure cash or credit receivables with short or long-term credit periods (Promissory Notes). The Exporter can also discount insured credits without recourse by transferring the insurance policy to a bank or to another registered financial institution.

Benefits

• No need for the buyer to use bank credit lines
• Commercial debt in the Buyer’s Financial Statements
• State guarantee for the exporter and thus more stable cash flow
• Improved cash position for the exporter – the policy can be transferred to discount the underlying credit without recourse
• Extended terms of payment for the buyer, at more competitive interest rates

Buyers Credit

Features

This insurance cover protects banks or other financial institutions from credit default when providing a credit line to a foreign buyer interested in purchasing goods and services from Italy.

The credit line will amount up to 85% of the export contract value and it will be covered up to 95% with a guarantee from SACE.

Tenor and repayment scheme of the Loan Agreement will follow International rules arranged by OECD.

This scheme can be applied also to foreign affiliates and subsidiaries of Italian companies.

Benefits

• Competitive edge by providing attractive payment conditions to the foreign buyer
• Diversification of financial resources – bank credit lines are unaffected by the guaranteed amount
• Added value of joint assessment with SACE/EH of the country and foreign borrower risk

Bergs & More is an international multidisciplinary firm with a global horizon which provides legal, tax and business consultancy services. Direct owned offices are located in Italy, United Arab Emirates, Qatar and Kenya. Bergs & More has established a network of correspondent partners based in several jurisdictions worldwide. The main practices of the firm are international litigation and arbitration, domestic and international corporate and M&A and corporate finance, commercial contracts, IP & IT licenses, tax and compliance. Strategic practice is also business advisory.