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The German Development Bank (KfW) has become the latest shareholder in the African Trade & Investment Development Insurance (ATIDI).
The KfW becomes the 13th institutional shareholder in Africa’s premier development insurer, further strengthening the organisation’s capital base and its capacity to support trade and investment across the continent.
The official signing of the subscription agreement between the two organisations was marked at a meeting held today in Nairobi between ATIDI’s CEO and the German Federal Minister for Economic Cooperation and Development, Reem Alabali Radovan.
The new shareholding underscores Germany’s commitment to strengthening its economic partnership with Africa and to supporting African institutions that facilitate trade and investment across the continent.
“This milestone is iconic in many ways. First, it elevates our already dynamic bond with KfW and creates more opportunities for German investors looking to engage in Africa,” said ATIDI CEO Manuel Moses during the signing ceremony.
“It is also a recognition of ATIDI’s earned status as Africa’s top development insurer and the acknowledgement of the soundness of our business. Last, it underscores the power of partnerships in a global context increasingly marked by volatility and uncertainty. ATIDI will spare no effort to make this partnership a successful one.”
The KfW invested $32 million (Sh4.1 billion) to become a D2-class shareholder of ATIDI, a status dedicated to export credit agencies and non-African public entities.
Of this amount, $18.4 million (Sh2.4 billion) is funded from BMZ budget resources, with the remaining $13.6 million (Sh1.7 billion) coming from KfW’s own resources.
As such, it will assume the obligations and benefits associated with its new shareholding status, including representation on ATIDI’s governance and decision-making structures and equal participation in efforts to improve German trade and investment in Africa, in line with the G20 Compact with Africa (CwA 2.0).
KfW’s subscription to ATIDI is the culmination of a dynamic partnership between the two organisations.
On behalf of the German Federal Ministry of Economic Cooperation and Development (BMZ), KfW has supported several countries’ membership of ATIDI with over USD100 million (Sh12.9 billion) in financing, thereby strengthening the organisation’s capital base and expanding its capacity to mitigate risk and mobilise private investment across African markets.
The new equity participation adds a direct shareholding to this long-standing cooperation.
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The German Development Bank (KfW) has become the latest shareholder in the African Trade & Investment Development Insurance (ATIDI).
The KfW becomes
the 13th institutional shareholder in Africa’s premier development insurer, further strengthening the organisation’s capital base and its capacity to support trade and investment across the continent.
The official signing of the subscription agreement between the two organisations was marked at a meeting held today in Nairobi between ATIDI’s CEO and the German Federal Minister for Economic Cooperation and Development, Reem Alabali Radovan.
The new shareholding underscores Germany’s commitment to strengthening its economic partnership with Africa and to supporting African institutions that facilitate trade and investment across the continent.
“This milestone is iconic in many ways. First, it elevates our already dynamic bond with KfW and creates more opportunities for German investors looking to engage in Africa,” said ATIDI CEO Manuel Moses during the signing ceremony.
“It is also a recognition of ATIDI’s earned status as Africa’s top development insurer and the acknowledgement of the soundness of our business. Last, it underscores the power of partnerships in a global context increasingly marked by volatility and uncertainty. ATIDI will spare no effort to make this partnership a successful one.”
The KfW invested $32 million (Sh4.1 billion) to become a D2-class shareholder of ATIDI, a status dedicated to export credit agencies and non-African public entities.
Of this amount, $18.4 million (Sh2.4 billion) is funded from
BMZ budget resources
, with the remaining $13.6 million (Sh1.7 billion) coming from KfW’s own resources.
As such, it will assume the obligations and benefits associated with its new shareholding status, including representation on ATIDI’s governance and decision-making structures and equal participation in efforts to improve German trade and investment in Africa, in line with the G20 Compact with Africa (CwA 2.0).
KfW’s subscription to ATIDI is the culmination of a dynamic partnership between the two organisations.
On behalf of the German Federal Ministry of Economic Cooperation and Development (BMZ), KfW has supported several countries’ membership of ATIDI with over USD100 million (Sh12.9 billion) in financing, thereby strengthening the organisation’s capital base and expanding its capacity to mitigate risk and mobilise private investment across African markets.
The new equity participation adds a direct shareholding to this long-standing cooperation.
By James Wanzala