African Trade & Investment Development Insurance (ATIDI) and African Solidarity Fund (ASF) Sign Framework Cooperation Agreement
African Trade & Investment Development Insurance (ATIDI) and African Solidarity Fund (ASF) have recently signed a framework cooperation agreement that signifies a significant step towards promoting economic development and managing risks associated with investment and trade in Africa.
The agreement, inked during the Africa Investment Forum 2024 (AIF 2024) in Rabat, Morocco, establishes a cooperative framework to support infrastructure and economic development projects in member states of both institutions. These member states include Benin, Burkina Faso, Burundi, Chad, Côte d’Ivoire, Mali, Niger, Rwanda, Senegal, and Togo. Additionally, the agreement aims to reduce risks for investors, corporates, and lenders interested in investing in Africa.
ASF Managing Director, Mr. Abdourahmane Diallo, emphasized the importance of this collaboration in fostering sustainable development in Africa. He stated, “We are uniting efforts to drive investment and foster economic growth on the continent, while ensuring a secure environment for investors.”
ATIDI CEO, Manuel Moses, highlighted the partnership’s significance in enhancing the company’s financial solutions to address Africa’s economic challenges, particularly in mitigating risks that impede trade and investment. He added, “This partnership underscores the necessity for multilateral institutions to collaborate in facilitating development financing access for our continent, ultimately contributing to a prosperous future for member states and African businesses.”
The key objectives of this collaboration include promoting risk mitigation solutions for commercial and investment transactions, supporting renewable energy and infrastructure development within the African Continental Free Trade Area (ACFTA) framework, and enhancing professional skills and business environment in Africa.
This agreement marks a pivotal moment for both ATIDI and ASF as they commit to aligning their efforts to boost intra-African trade, encourage strategic impact investments, and drive economic development across the continent.
About African Solidarity Fund (ASF)
The African Solidarity Fund (ASF) is a pan-African financial institution headquartered in Niamey, Niger. Established in September 1979, ASF’s mandate is to facilitate access to financial resources for investment projects and income-generating activities, thereby contributing to the economic development and social progress of its African member states. ASF currently comprises twenty-nine Regional Member States across seven African Regional Economic Communities (RECs) including EAC, ECOWAS, ECCAS, CEN-SAD, COMESA, SADC, and AMU. Learn more at www.fondsolidariteafricain.org
About ATIDI
Founded in 2001 by African States, African Trade & Investment Development Insurance (ATIDI) specializes in covering trade and investment risks for companies operating in Africa. ATIDI offers Political Risk, Credit Insurance, and Surety Insurance services. To date, ATIDI has supported investments and cross-border trade worth USD 85 billion into Africa. The company maintains an ‘A/Stable’ rating for Financial Strength and Counterparty Credit from Standard & Poor’s for over a decade. In 2019, ATIDI achieved an A3/Stable rating from Moody’s, which has now been revised to A3/Positive. Explore more at www.atidi.africa
