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 | 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/ |
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]
ATIDI is Africa's only multilateral investment and credit insurer and as of 31 December 2019 it had supported trade and investments into Africa valued at over US$62 billion [2] since inception. For H1 2020, ATIDI recorded US$6.5 billion in Gross Exposures and US$390.8 million in equity. [3]
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]
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]
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 |
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]
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