African Trade and Investment Development Insurance

African Trade and Investment Development Insurance
Formation	2001;22 years ago
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	18 African Countries; 1 Non-African Country; 10 Institutional Investors
Official language	English & French
Key people	Manuel Moses, CEO; Benjamin Mugisha, CUO; Deepak Dave, CRO; Linda Bwakira, General Counsel and Corporate Secretary
Website	https://www.atidi.africa/

Last updated September 28, 2023

The African Trade and Investment Development Insurance (ATIDI) is an investment, trade and political risk-mitigation institution on the African continent intended to provide insurance against political 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]

History

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 of prospective investors. The study expanded into a World Bank project (The Regional Trade Facilitation Project I)^[4] from which ATI was created. ATI launched in 2001 in Kampala, Uganda and opened its doors in Nairobi, Kenya, ATIDI's headquarters.^[5]

Shareholders / Members

ATI has 18 member countries and 11 other corporate shareholders including the African Development Bank, Trade Development Bank, UK Export Finance (UKEF), SACE, Chubb and Atradius.^[6] As of August 2023, 21 countries out of the 55 on the continent were ATIDI members.^[5]

India became the first non-African member country to become a shareholder through its government-backed export credit agency, ECGC ^[7]

As of H1 2020 (Figures are in M US$ and include Capital & Share Premiums)
	Paid up Capital	Non-African Member Countrties	Paid-up Capital	Other Shareholders	Paid-up Capital
Benin	14.1	India (ECGC)	11.7	African Development Bank	15.0
Burundi	15.4			African Reinsurance Corporation	1.0
Côte d'Ivoire	20.1			Atradius	0.1
Democratic Republic of Congo	19.5			Chubb Limited	10.0
Ethiopia	7.0			COMESA	0.1
Ghana	17.6			Kenya Reinsurance Corporation	1.0
Kenya	28.7			SACE SpA	10.0
Madagascar	7.1			Trade Development Bank	1.0
Malawi	17.5			UK Export Finance	0.1
Rwanda	8.8			ZEP-RE	0.5
Niger	12.5
Nigeria	14.1
South Sudan	9.1			SACE SpA	10.0
Tanzania	17.0			Trade Development Bank	1.0
Togo	12.3			UK Export Finance	0.1
Uganda	23.0			ZEP-RE	0.5
Zambia	17.4
Zimbabwe	13.0

Credit ratings

S&P : Reaffirmed A/Stable (April 2020);^[8] Assigned a Financial Enhancement 'A' rating (refers to ATI's ability and willingness to pay claims) ^[9]

Moody's : Assigned A3/Stable (May 2019) ^[10]

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References

1 2 The Economist Magazine (9 August 2001). "Insuring Africa". The Economist . London, United Kingdom. Retrieved 1 September 2023.
↑ 2018 Annual Report & Accounts (PDF). Nairobi, Kenya: ATI. 2019. p. 5.
↑ ATIDI (30 June 2019). "H1 2019 Results" (PDF). African Trade and Investment Development Insurance (ATIDI). Retrieved 16 September 2019.
↑ The World Bank (3 April 2001). "Regional Trade Facilitation Project 1". The World Bank. Washington, DC, United States. Retrieved 6 September 2018.
1 2 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.
↑ Smith-Juvelis, Alexis (28 April 2020). "African Trade Insurance Agency 'A' Ratings Affirmed On Criteria Revision;Outlook Remains Stable" (PDF). ATI. Retrieved 16 September 2019.
↑ Smith, Alexis (25 September 2018). "African Trade Insurance Agency Assigned 'A' Financial Enhancement Rating" (PDF). ATI. Archived (PDF) from the original on 2020-05-13. Retrieved 25 September 2019.
↑ Holmes, Brandan (29 May 2019). "African Trade Insurance Agency New Issuer - Strong balance sheet and preferred creditor status offsets high-risk insured exposures" (PDF). ATI. Archived (PDF) from the original on 2020-05-13. Retrieved 29 May 2019.

External links

ATIDI's official website

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[1R-1] 1 2 The Economist Magazine (9 August 2001). "Insuring Africa". The Economist . London, United Kingdom. Retrieved 1 September 2023.

[2R-2] 2018 Annual Report & Accounts (PDF). Nairobi, Kenya: ATI. 2019. p. 5.

[3R-3] ATIDI (30 June 2019). "H1 2019 Results" (PDF). African Trade and Investment Development Insurance (ATIDI). Retrieved 16 September 2019.

[4R-4] The World Bank (3 April 2001). "Regional Trade Facilitation Project 1". The World Bank. Washington, DC, United States. Retrieved 6 September 2018.

[5R-5] 1 2 Pauline Kairu (31 August 2023). "Pan-African insurer ATIDI in renewed push for continental investment". The EastAfrican . Nairobi, Kenya. Retrieved 1 September 2023.

[6R-6] Brian Ngugi (29 August 2018). "ATI's credit rating upheld on expanding shareholder base". Daily Nation . Nairobi, Kenya. Retrieved 1 September 2023.

[7R-7] 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.

[8] Smith-Juvelis, Alexis (28 April 2020). "African Trade Insurance Agency 'A' Ratings Affirmed On Criteria Revision;Outlook Remains Stable" (PDF). ATI. Retrieved 16 September 2019.

[9] Smith, Alexis (25 September 2018). "African Trade Insurance Agency Assigned 'A' Financial Enhancement Rating" (PDF). ATI. Archived (PDF) from the original on 2020-05-13. Retrieved 25 September 2019.

[10] Holmes, Brandan (29 May 2019). "African Trade Insurance Agency New Issuer - Strong balance sheet and preferred creditor status offsets high-risk insured exposures" (PDF). ATI. Archived (PDF) from the original on 2020-05-13. Retrieved 29 May 2019.

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