The African Trade Insurance Agency (ATI) is a multilateral financial institution providing export credit insurance, political risk insurance, investment insurance and other financial products to help reduce the business risks and costs of doing business in Africa. ATI facilitates exports, foreign direct investment into and trade flows within the continent.
ATI was launched in 2001 with the financial and technical support of the World Bank and the backing of seven African countries. In less than a decade, they have supported over $2.5 billion worth of trade and investments across the continent, secured an investment grade rating of 'A' from Standard & Poor's, and expanded membership to more than a dozen African countries with plans to attract non-African member states by 2011.
Vision
To transform Africa into a prime trade and investment destination
Mission
To turn African risk into opportunity by providing insurance and financial products, in partnership with the private and public sectors
ATI currently conduct business in these African countries:
ATI was created to fill a market gap in trade and investment risk mitigation in Africa. In the late 90's, risk mitigation tools for credit and political insurance were not available for many African countries, and where the cover existed, it was very costly. In addition, the relatively small volumes of trade and investments into these countries did not justify the establishment of national export credit agencies. The only viable solution was to form a multilateral agency that would provide more cost-effective use of underwriting capital, reduced over-head costs and the ability to encourage private sector insurers to assume risk in Africa.
In response to the demand, a number of African countries came together to establish an insurance mechanism to protect their economies against losses caused by credit and political risks. They were confident that this instrument would help local companies compete globally and help Africa attract foreign direct investment. ATI was subsequently launched in 2001 with a mandate to create insurance and reinsurance products to help reduce the risks and costs of doing business in Africa.
Partners
One of ATI’s main objectives is to pave the way for foreign lenders to comfortably invest in Africa. They encourage private corporations to participate in public projects and by doing this they essentially increase the rate of private public partnerships in financial activities in Africa. Another aspect of their partnerships helps African companies access their network of risk syndications, which are institutions that can assist an African-based client better assess the risk of buyers who could be based in any corner of the world.
Their partners have allowed them to increase their resources, maximise the synergies of risk insurers in Africa, and integrate and raise African risk mitigation operations to a system of international best practises.
ATI’s main partners include:
Banks
Reinsurers
Investment
Donors