ATIDI roots for uptake of development insurance to catalyse mega projects

ATIDI chief executive Manuel Moses. [Courtesy]

The African Trade Insurance Agency, (ATIDI) is urging for increased uptake of development insurance to catalyze mega-projects and drive sustainable economic growth across Kenya and Africa.

The pan-African insurer emphasized the crucial role of insurance in mitigating risks and attracting foreign direct investment (FDI) to Kenya and the rest of the continent.

"ATIDI is at the center of the solution to Africa's development agenda," said Manuel Moses, CEO of ATIDI in a statement. "Our unique risk-mitigating solutions are essential to enable transformational projects benefiting African countries and their citizens."

Development insurance the continental insurer plays a vital role in mitigating political, currency, and credit risks, thereby encouraging investors to engage in crucial infrastructure projects, such as energy, transportation, and telecommunications.

By providing crucial safeguards, development insurance fosters a more stable and predictable investment environment, for investors attracting much-needed capital to the continent.

"Investing in Africa comes with inherent risks, including political volatility, currency fluctuations, and potential for unforeseen events," said Dr Anthony Ehimare, Chief Risk Officer at ATIDI.

“ATIDI's role is to mitigate these risks, providing investors with the confidence they need to engage in transformative projects across Africa."

Since its inception, ATIDI says it has supported over $85 billion worth of investments across the continent, demonstrating its effectiveness in de-risking projects and facilitating economic growth.

The agency plans to expand its product offerings and strengthen partnerships with key stakeholders to further enhance its impact.

By fostering a more conducive investment climate, ATIDI aims to play a crucial role in unlocking Africa's economic potential and driving sustainable development across the continent.

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