Emmanuel OchayiAfrican Trade & Investment Development Insurance (ATIDI) and African Solidarity Fund (ASF) have signed a cooperation agreement aimed at boosting investment and trade in Africa. The agreement, signed during the Africa Investment Forum 2024 (AIF 2024) in Rabat, Morocco, sets the stage for stronger collaboration to promote infrastructure development and reduce the financial risks associated with investment on the continent.
ATIDI is a financial institution that provides insurance solutions to mitigate risks in trade and investment, supporting Africa’s economic growth. On the other hand, ASF focuses on promoting economic development in African countries by offering guarantees for loans and supporting investment initiatives.
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The agreement creates a framework for supporting infrastructure and economic development projects in member states affiliated with both organizations. These member states include Benin, Burkina Faso, Burundi, Chad, Côte d’Ivoire, Mali, Niger, Rwanda, Senegal, and Togo. By working together, ATIDI and ASF aim to create a more secure environment for investors, corporates, and lenders looking to participate in Africa’s growing trade and investment landscape.
ASF Managing Director Abdourahmane Diallo described the partnership as a milestone in Africa’s journey toward sustainable development.
“We are joining forces to drive investment and encourage economic growth across the continent, while ensuring a secure environment for investors,” Mr. Diallo said.
ATIDI CEO Manuel Moses emphasized the potential of the agreement to address Africa’s economic challenges.
“It also reflects the need for multilateral institutions to work together to facilitate access to development financing for our continent. Together, we will help create a prosperous future for member states and African businesses,” Mr. Moses said.
Key Goals of the Partnership
The collaboration between ATIDI and ASF focuses on key objectives that are expected to have a lasting impact on trade in Africa. These goals include promoting risk mitigation solutions for commercial and investment transactions, supporting renewable energy projects, and improving Africa’s business environment. Additionally, the two organizations aim to boost professional development and skills training to enhance economic participation across the continent.
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The deal also aligns with the broader objectives of the African Continental Free Trade Area (AfCFTA), which seeks to promote trade among African countries and reduce barriers to investment. Through this agreement, ATIDI and ASF will support strategic development projects with a focus on creating sustainable growth and stronger regional integration.
Impact on Intra-African Trade and Investment
The agreement comes at a critical time as African nations strive to increase intra-African trade under AfCFTA. By addressing the risks that often deter investors, the partnership aims to attract more private sector participation in African projects. This approach is expected to drive job creation, economic diversification, and sustainable development.
According to Mr. Diallo, “We believe this partnership will unlock significant opportunities for businesses and investors, allowing them to tap into Africa’s vast potential.”
A Path Toward a Stronger Business Environment
With this new partnership, ATIDI and ASF are set to play a major role in enhancing trade in Africa. By reducing investment risks and facilitating the flow of capital into key projects, they aim to build a stronger, more secure business environment on the continent.
Mr. Moses stated, “This partnership will provide African businesses with the financial tools they need to thrive. By supporting access to financing and risk mitigation, we aim to drive transformative change.”
The agreement between ATIDI and ASF represents a significant step toward improving investment conditions and boosting trade in Africa. The focus on risk mitigation, infrastructure development, and skills training is expected to strengthen Africa’s position in the global trade arena. As ATIDI and ASF pool their resources and expertise, the potential for economic growth and cross-border trade on the continent looks brighter than ever
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
