# UK Government helps IT company break into Africa with £900k UKEF support Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2022-12-19 Category: TECHNOLOGY Category URL: https://financedigest.com/category/technology Meta Title: Boosting African Tech: Vesper Technologies Partners with Atlancis Meta Description: Unlocking growth opportunities in Africa through a partnership between Vespertec and Atlancis, supported by UK Export Finance's Standard Buyer Loan URL: https://financedigest.com/uk-government-helps-it-company-break-into-africa-with-900k-ukef-supporthtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/istock-1163868471-1736814709812-compressed.jpg) _UKEF’s guarantee has given a boost to exporting ambitions of a Stockport-based technology company_ - Vesper Technologies (Vespertec) will benefit from £900,000 UKEF [support to an African cloud services](https://www.financedigest.com/uk-gives-bbc-world-service-20-million-pounds-to-support-english-language-broadcasting.html "UK gives BBC World Service 20 million pounds to support English language broadcasting") company through its Standard Buyer Loan Guarantee - Nairobi-located Atlancis Technologies has received UKEF support allowing it to purchase Vespertec’s IT hardware and [software solutions](https://www.financedigest.com/healthcare-software-solutions-to-ride-the-immunohematology-market.html "Healthcare Software Solutions to ride the Immunohematology Market"), boosting the UK company’s exporting footprint - The partnership between the two firms will contribute to the digitalisation of key [industries across](https://www.financedigest.com/flooded-battery-to-remain-top-choice-across-industries-accounting-for-49-0-of-lead-acid-battery-sales-in-2021-future-market-insights.html "Flooded Battery to Remain Top Choice across Industries, Accounting for 49.0% of Lead Acid Battery Sales in 2021: Future Market Insights") Africa UK Export Finance (UKEF) has provided £900,000 of support to Atlancis, a Kenyan cloud services company, enabling it to forge a new relationship with UK exporter Vespertec to [unlock growth opportunities in Africa](https://www.financedigest.com/addressing-the-credit-gap-to-unlock-economic-growth-in-africa.html "Addressing the credit gap to unlock economic growth in Africa"). A Standard Buyer Loan Guarantee was offered by UKEF to guarantee an export [credit](https://www.financedigest.com/6-reasons-to-take-a-car-loan-from-a-credit-union.html "6 Reasons to Take a Car Loan From a Credit Union") loan from Apple Bank, supported by its UK servicer and arranger of the deal AF Capital. Both AF [Capital and Apple Bank](https://www.financedigest.com/austrian-regulator-orders-system-relevant-banks-to-up-capital-buffers.html "Austrian regulator orders system-relevant banks to up capital buffers") specialise in export credit debt. Launched in February 2021, the [Standard Buyer Loan Guarantee allows](https://www.financedigest.com/esg-innovation-allowing-everyone-to-meet-the-standard.html "ESG innovation: Allowing everyone to meet the standard") UKEF to guarantee a loan of up to 85% of a contract value, ensuring UK exporters get paid upfront and their buyers benefit from flexible repayment terms. The deal was brokered through UKEF’s international export finance executive who [supports deals across](https://www.financedigest.com/fintechs-support-of-ukraines-digital-businesses-can-be-used-as-blueprint-across-the-world.html "Fintech’s support of Ukraine’s digital businesses can be used as blueprint across the world") East Africa. Based in Stockport, Cheshire, Vespertec is a leading provider of server, network, and storage solutions for the [data centre](https://www.financedigest.com/keysource-awarded-major-contract-to-design-nationwide-network-of-data-centres-throughout-china.html "KEYSOURCE AWARDED MAJOR CONTRACT TO DESIGN  NATIONWIDE NETWORK OF DATA CENTRES THROUGHOUT CHINA") and technology industries. With its in-house logistics capabilities, it deploys the full spectrum of IT hardware solutions [around the world](https://www.financedigest.com/around-the-world-in-mobile-payments.html "Around the world in mobile payments") and, with a turnover in excess of £20 million, nearly half its business is driven by exports. With a number of deals in the pipeline, its partnership with Atlancis is expected to see Vespertec’s cloud hardware and software deployed across several sectors, including telecommunications, [health and fintech](https://www.financedigest.com/how-can-fintechs-better-engage-zillennials-with-their-financial-health-the-answer-lies-in-speaking-to-them-in-their-own-language.html "How can fintechs better engage Zillennials with their financial health? The answer lies in speaking to them in their own language"). UK businesses, like Vespertec, are helping to accelerate the [digitalization of industries](https://www.financedigest.com/how-digital-identity-verification-will-revolutionize-security-defenses-in-the-financial-services-industry.html "How Digital Identity Verification Will Revolutionize Security Defenses in the Financial Services Industry"), creating more opportunities and fuelling growth across African economies. **Samir Parkash, interim CEO of UK Export Finance, said:** _“UKEF’s [support will help Vespertec strengthen its exporting business](https://www.financedigest.com/uks-sunak-to-halve-support-that-helps-businesses-pay-fuel-bills-the-times.html "UK’s Sunak to halve support that helps businesses pay fuel bills -The Times") and expand into new markets. It shows the huge trading [opportunities open to British businesses](https://www.financedigest.com/the-north-heads-south-to-mipim-en-masse-to-corner-new-real-estate-business-opportunities.html "The North heads South to MIPIM en masse to corner new real estate business opportunities"). You don’t need to be a big company to [access UKEF support](https://www.financedigest.com/51-of-brits-support-teresa-may-and-would-grant-access-to-their-personal-communication-and-internet-browsing-history-as-part-of-the-snoopers-charter.html "51%* of Brits support Teresa May and would grant access to their personal communication and internet browsing history as part of the Snooper’s Charter "), in fact, 81% of the companies UKEF supported last year were small and medium-sized enterprises, the highest annual figure on record._ _Vespertec is a great success story of a UK business exporting next-generation [technologies](https://www.financedigest.com/is-wearable-technology-ushering-in-a-brave-new-healthy-world.html "Is wearable technology ushering in a brave new healthy world?") around the world.”_ **_Steve Evans, Finance Director at Vespertec, said_** _:_“With UKEF’s support, we are tapping into a fantastic [opportunity in Africa](https://www.financedigest.com/with-the-end-of-easy-money-there-are-still-serious-opportunities-in-africa.html "With the end of ‘easy money’ there are still serious opportunities in Africa") as part of our new partnership with Atlancis. We are excited for the [future](https://www.financedigest.com/air-separation-plant-market-to-register-5-cagr-driven-by-surging-demand-for-nitrogen-gas-within-food-beverage-sector-future-market-insights.html "Air Separation Plant Market to Register 5% CAGR Driven by Surging Demand for Nitrogen Gas within Food & Beverage Sector: Future Market Insights") and the opportunity to increase sales in new geographies and sectors.” **_Philip Kaye, Director at Vespertec, added:_** _“This deal is amongst a number of our recent successes that will [create new roles in the business](https://www.financedigest.com/6-ways-how-to-create-great-tiktok-videos-for-your-business.html "6 Ways How to Create Great TikTok Videos For Your Business"), strengthening our technical expertise and enabling Vespertec to meet the rise in demand for our products and services.”_ **_Dan Njuguna, founder and CEO of Atlancis, said:_** _“We’re pleased to be [partnering with Vespertec to support Kenya’s technology](https://www.financedigest.com/how-to-choose-the-perfect-it-and-technology-partner.html "How to Choose the Perfect IT and Technology Partner") ambitions. Through the collaboration, our customers will benefit from cutting-edge IT solutions that deliver [real benefits for their business](https://www.financedigest.com/the-real-reasons-why-winning-business-awards-is-good.html "The Real Reasons Why Winning Business Awards Is Good")._ **_Andrew Woolfson, [Partner at AF Capital](https://www.financedigest.com/sequant-capital-partners-with-hitbtc-to-launch-a-dedicated-service-for-professional-cryptocurrency-traders.html "Sequant Capital partners with HitBTC to launch a dedicated service for professional cryptocurrency traders"), adds:_** “The SBLG product has been a substantial success for UK exporters. AF Capital and Apple [Bank remain a leading funder of these transactions](https://www.financedigest.com/igtb-launch-digital-transaction-banking-available-as-saas.html "iGTB launch Digital Transaction Banking available as SaaS") and will continue to expand with this product. With Vespertec and Atlancis as our partners on this particular project, it is a shining example of how these transactions can expand [opportunities](https://www.financedigest.com/growing-exports-of-non-traditional-jamaican-crops-creating-sustained-opportunities-for-ackee-market-sale.html "Growing Exports Of Non-traditional Jamaican Crops Creating Sustained Opportunities For Ackee Market Sale") for UK exporters.” --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---