African Trade and Investment Development Insurance
| Formation | 2001 |
|---|---|
| Type | Treaty |
| Purpose | Mitigation of political (investment) and commercial risks in Africa |
| Headquarters | Kenya Re Towers, 5th Floor, Upper Hill, Nairobi, Kenya |
Region | Africa |
| Products | (Investment Risk Insurance) Political Risk Insurance Trade Credit Insurance Performance Bonds |
Membership | 24 African Countries 1 Non-African Country 12 Institutional Investors |
Official language | English & French |
Key people | Chief Executive Officer: Manuel Moses Chief Underwriting Officer: Benjamin Mugisha Chief Financial Officer: Gladys Karuri General Counsel & Corporate Secretary: Linda Bwakira Chief Risk Officer: Anthony Ehimare |
| Website | https://www.atidi.africa/ |
The African Trade & Investment Development Insurance (ATIDI) is an investment, trade and political risk-mitigation institution on the African continent intended to provide insurance against political (investment) and commercial risks in order to attract foreign direct investment to the region. ATIDI was founded in 2001 by seven COMESA countries, with technical and financial backing of The World Bank.[1]
ATIDI is Africa's only multilateral investment and credit insurer and as of 31 December 2023 it had supported trade and investments into Africa valued at over USD85 billion since inception. ATIDI facilitates partnerships between African countries, lenders, investors, traders and insurers by providing Political (Investment) Risk Insurance to lenders and investors and also (Trade) Credit Insurance and Surety Bonds to commercial bank lenders and private sector traders of goods and services.[2]
History
[edit]ATIDI was created in 2001 as African Trade Insurance Agency (ATI), to help drive much needed investment insurance capacity to Africa in order to support higher levels of foreign direct investments.[1] Seven COMESA countries obtained a grant from the World Bank to conduct a study to look at factors contributing the low levels of FDI to their countries. The study revealed political risk to be the main constraint and the primary concern for prospective investors. The study expanded into a World Bank project (The Regional Trade Facilitation Project I)[3] from which ATI was created. ATI was launched in 2001 in Kampala, Uganda and opened its doors in Nairobi, Kenya, ATIDI's headquarters.[4]
Shareholders / Members
[edit]ATIDI has 24 African member states 1 non African Member State and 12 other corporate shareholders including the African Development Bank, Trade Development Bank, UK Export Finance (UKEF), SACE, CESCE, Africa RE, Kenya RE Chubb Nippon Export and Investment Insurance (NEXI) and Atradius.[5][4] Membership is open to all African Union member states, non-African states, private corporations, regional and international institutions. To learn about the benefits of membership visit https://www.atidi.africa/investor-relations/
India became the first non-African member country to become a shareholder through its government-backed export credit agency, ECGC[6]
| Country/Entity | Paid-up Capital (in million USD) | Non-African Member Countries | Paid-up Capital (in million USD) | Other Shareholders | Paid-up Capital (in million USD) |
|---|---|---|---|---|---|
| Angola | 15.8 | ||||
| Benin | 27.6 | India (ECGC) | 10.6 | African Development Bank | 15.0 |
| Burkina Faso | 10.8 | ||||
| Burundi | 16.2 | ||||
| Cameroon | 9.0 | ||||
| African Reinsurance Corporation | 1.0 | ||||
| Atradius | 0.1 | ||||
| Chad | 10.7 | ||||
| Côte d'Ivoire | 20.5 | ||||
| Chubb Limited | 9.0 | ||||
| Democratic Republic of Congo | 21.0 | ||||
| COMESA | 0.1 | ||||
| Ethiopia | 22.9 | ||||
| CESCE | 1.0 | ||||
| Ghana | 15.8 | ||||
| Kenya Reinsurance Corporation | 1.0 | ||||
| Kenya | 30.1 | ||||
| NEXI | 10.0 | ||||
| Madagascar | 7.3 | ||||
| SACE SpA | 10.0 | ||||
| Malawi | 18.7 | ||||
| Mali | 7.8 | ||||
| Niger | 9.5 | ||||
| Nigeria | 12.6 | ||||
| Rwanda | 9.2 | ||||
| Trade Development Bank | 1.0 | ||||
| Zep Re | 3.6 | ||||
| Senegal | 11.8 | ||||
| South Sudan | 9.6 | ||||
| Tanzania | 17.8 | ||||
| Togo | 25.1 | ||||
| Uganda | 24.1 | ||||
| UK Export Finance | 0.1 | ||||
| Zambia | 18.2 | ||||
| Zimbabwe | 13.9 |
Credit ratings
[edit]See also
[edit]- African Development Bank
- African Export-Import Bank
- Africa Finance Corporation
- Berne Union
- Chubb Limited
- COMESA
- ECGC
- MIGA
- Mizuho Corporate Bank
- MUFG
- Nippon Export & Investment Insurance (NEXI)
- Sumitomo Mitsui Banking Corporation
- The World Bank
- Trade Development Bank
References
[edit]- ^ a b The Economist Magazine (9 August 2001). "Insuring Africa". The Economist. London, United Kingdom. Retrieved 1 September 2023.
- ^ 2023 Annual Report & Accounts (PDF). Nairobi, Kenya: ATIDI. 2023. p. 9.
- ^ The World Bank (3 April 2001). "Regional Trade Facilitation Project 1". The World Bank. Washington, DC, United States. Retrieved 6 September 2018.
- ^ a b Pauline Kairu (31 August 2023). "Pan-African insurer ATIDI in renewed push for continental investment". The EastAfrican. Nairobi, Kenya. Retrieved 1 September 2023.
- ^ Brian Ngugi (29 August 2018). "ATI's credit rating upheld on expanding shareholder base". Daily Nation. Nairobi, Kenya. Retrieved 1 September 2023.
- ^ LAU (17 August 2018). "India-Africa strengthen trade ties; ATI receives US$ 10 million". Logistics Update Africa (LUA). New Bombay, India. Retrieved 1 September 2023.
- ^ "African Trade Insurance Agency 'A' Rating Affirmed; Outlook Remains Stable" (PDF). ATIDI. 2024-04-26. Retrieved 2024-09-13.
- ^ "Credit Opinion: The African Trade Insurance Agency" (PDF). ATIDI. 2023-03-13. Retrieved 2024-09-13.