The African Trade Insurance Agency (ATI), a pan-African institution
that provides risk solutions to companies, investors, and lenders
interested in doing business in Africa, has this week announced that its
General Assembly has approved its first ever payment to its
shareholders.
that provides risk solutions to companies, investors, and lenders
interested in doing business in Africa, has this week announced that its
General Assembly has approved its first ever payment to its
shareholders.
The announcement comes on the heels of ATI’s Annual General Meeting
held in Abidjan, where the company also announced its record-breaking
2017 financial results for the sixth consecutive year.
held in Abidjan, where the company also announced its record-breaking
2017 financial results for the sixth consecutive year.
ATI has earmarked an initial $2.5 million in payments to its shareholders which include 14 African member governments.
“We have been planning for this moment for several years and I am
happy to finally announce that we are ready to give something back to
our shareholders,” The company’s CEO, George Otieno noted.
happy to finally announce that we are ready to give something back to
our shareholders,” The company’s CEO, George Otieno noted.
“This signals our intention to continue showing value to our member
governments and shareholders, while providing non-member countries and
institutional investors an incentive to join,” he said.
governments and shareholders, while providing non-member countries and
institutional investors an incentive to join,” he said.
ATI was founded in 2001 by African States to cover the trade and
investment risks of companies doing business in Africa. ATI provides
Political Risk, Surety Bonds, Trade Credit Insurance and Political
Violence and Terrorism and Sabotage cover.
investment risks of companies doing business in Africa. ATI provides
Political Risk, Surety Bonds, Trade Credit Insurance and Political
Violence and Terrorism and Sabotage cover.
As of 2016, ATI has supported $35 billion in trade and investments
across Africa in sectors such as agribusiness, energy, exports, housing,
infrastructure manufacturing, mining and telecommunications.
across Africa in sectors such as agribusiness, energy, exports, housing,
infrastructure manufacturing, mining and telecommunications.
In 2017, ATI recorded gross exposures of $2.4 billion and, in the
same period, the company covered investment and trade activities across
the continent valued at $10 billion. ATI also posted a $10 million
profit representing a 55% increase over 2016.
same period, the company covered investment and trade activities across
the continent valued at $10 billion. ATI also posted a $10 million
profit representing a 55% increase over 2016.
ATI owes its strong results in part to growing demand from investors
and African governments for their products as the continent continues to
position itself as an attractive destination for investors. Africa’s
drive to increase trade within its borders is also fuelling ATI’s
success.
and African governments for their products as the continent continues to
position itself as an attractive destination for investors. Africa’s
drive to increase trade within its borders is also fuelling ATI’s
success.
The African multilateral insurer also announced the Government of
India’s $10 million shareholding, which will be represented by ECGC,
India’s export credit agency.
India’s $10 million shareholding, which will be represented by ECGC,
India’s export credit agency.
culled:footprint2africa
