Rainbo Secures Major Export Contract with Côte d’Ivoire Firm
Crawley-based Rainbo has successfully landed a £4 million contract to provide heavy-duty vehicles and services to a transportation and logistics firm in Côte d’Ivoire. This deal, supported by a loan guarantee from UK Export Finance (UKEF), not only bolsters Rainbo’s growth plans but also enhances the UK supply chain by including locally manufactured trailers.
Significance of the Contract
The partnership with Côte d’Ivoire’s EKDMC (Entreprise de Kouroumbi Douala) marks Rainbo’s second engagement with UKEF and London Forfaiting Company (LFC) within a short span of six months. This new contract is indicative of the increasing opportunities for UK exporters in rapidly developing markets across Africa.
As part of the agreement, Rainbo will deliver 20 heavy-duty trailers specifically designed for sectors such as construction, mining, and agriculture, all produced by a UK manufacturer. This initiative not only supports local manufacturing but also contributes to job retention and growth within the UK
Enhancing Export Opportunities
Following the recent successes, Rainbo is optimistic about expanding its portfolio of exports, which forms a crucial aspect of its long-term growth strategy. The company is also planning a recruitment drive aimed for 2026, reflecting its commitment to both domestic and international markets.
Lisa Maddison-Brown, UKEF’s Export Finance Manager for Kent, East Sussex, and West Sussex, highlighted the significance of this deal, stating that UKEF’s support for small and medium enterprises (SMEs) extends beyond single transactions. It plays a pivotal role in helping UK businesses solidify their presence in Africa.
Stakeholders’ Perspectives
The Managing Director of Rainbo, Steve Quigley, expressed pride in securing another UKEF-facilitated contract, crediting the achievement to the strong relationships the company has built with its network of clients, suppliers, and partners. He emphasised the value of collaboration and excellence in driving the firm’s success across African markets.
Paul Wright, Head of UK Marketing at LFC, echoed this sentiment, noting the importance of financing solutions in supporting UK exports. He pointed out the potential for further collaboration between UKEF, UK exporters, and LFC to unlock new opportunities in emerging markets, thereby benefitting both UK and foreign buyers.
Broader Economic Impact
This recent contract is a testament to the UK government’s Plan for Change, which aims to support British companies through innovative financing solutions. As highlighted in recent reports, UKEF provided a record £14.5 billion in financing last financial year, facilitating export growth for over 667 UK firms and supporting approximately 70,000 jobs.
With flexible finance options, UKEF enables businesses, especially SMEs, to secure favorable payment terms and fulfil export contracts more efficiently. Such initiatives are crucial in creating sustainable economic growth, both in the UK and in developing regions like Africa.
Source: official statements, news agencies, and public reports.
https://www.gov.uk/government/news/from-crawley-to-cote-divoire-west-sussex-firm-wins-multi-million-pound-contract-with-government-backed-finance
