The African Trade Insurance Agency, also known as ATI, was established in 2001
by seven
COMESA
The Common Market for Eastern and Southern Africa (COMESA) is a regional economic community in Africa with twenty-one member states stretching from Tunisia to Eswatini. COMESA was formed in December 1994, replacing a Preferential Trade Area whic ...
countries and with the technical and financial backing of
The World Bank
The World Bank Group (WBG) is a family of five international organizations that make leveraged loans to developing countries. It is the largest and best-known development bank in the world and an observer at the United Nations Development Grou ...
to provide insurance against political and commercial risks in order to attract
foreign direct investments (FDI) into the region. ATI is Africa's only multilateral investment and credit insurer and as of 31 December 2019 it had supported trade and investments into Africa valued at over US$62 billion since inception and for H1 2020, ATI recorded US$6.5 billion in Gross Exposures and US$390.8 million in equity.
History
ATI was created in 2001 to help drive much needed investment insurance
capacity to Africa in order to support higher levels of foreign direct investments.
Seven COMESA countries obtained a grant from the World Bank to conduct a study to look at factors contributing the low levels of FDI to their countries. The study revealed political risk to be the main constraint and the primary concern of prospective investors. The study expanded into a World Bank project (The Regional Trade Facilitation Project I) from which ATI was created. ATI launched in 2001 in Kampala, Uganda and opened its doors in Nairobi, Kenya, ATI's head office.
Shareholders / Members
ATI has 18 member countries and 11 other corporate shareholders like the
African Development Bank
The African Development Bank Group (AfDB) or (BAD) is a multilateral development finance institution headquartered in Abidjan, Ivory Coast, since September 2014. The AfDB is a financial provider to African governments and private companies i ...
,
Trade Development Bank
Trade Development Bank (TDB) was a private Geneva-based bank built by Edmond Safra, who also founded Brazil's sixth largest bank, Banco Safra, in the 1950s. Beginning with only US$1 million in funds, TDB grew into the flagship of Safra’s interna ...
,
UK Export Finance
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(UKEF),
SACE Chubb and
Atradius
Atradius provides trade credit insurance, surety and collections services worldwide through a presence in more than 50 countries around the globe. It is the credit insurance arm of Grupo Catalana Occidente (GCO.MC). Credit insurance, bonding and c ...
.
India
India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the so ...
became the first non-African member country to become a shareholder through its government-backed export credit agency,
ECGC
ECGC Limited (Formerly Export Credit Guarantee Corporation of India Limited) is a government owned export credit agency of India. It is under the ownership of the Ministry of Commerce and Industry, Government of India, and is headquartered in Mu ...
Credit ratings
S&P: Reaffirmed A/Stable (April 2020); Assigned a Financial Enhancement 'A' rating (refers to ATI's ability and willingness to pay claims)
Moody's
Moody's Investors Service, often referred to as Moody's, is the bond credit rating business of Moody's Corporation, representing the company's traditional line of business and its historical name. Moody's Investors Service provides international ...
: Assigned A3/Stable (May 2019)
See also
*
African Development Bank
The African Development Bank Group (AfDB) or (BAD) is a multilateral development finance institution headquartered in Abidjan, Ivory Coast, since September 2014. The AfDB is a financial provider to African governments and private companies i ...
*
African Export-Import Bank
African or Africans may refer to:
* Anything from or pertaining to the continent of Africa:
** People who are native to Africa, descendants of natives of Africa, or individuals who trace their ancestry to indigenous inhabitants of Africa
*** Ethn ...
*Africa Finance Corporation
*Berne Union
*Chubb Limited
*
COMESA
The Common Market for Eastern and Southern Africa (COMESA) is a regional economic community in Africa with twenty-one member states stretching from Tunisia to Eswatini. COMESA was formed in December 1994, replacing a Preferential Trade Area whic ...
*Export Credit Guarantee Corporation of India, ECGC
* MIGA
*Mizuho Corporate Bank
*Mitsubishi UFJ Financial Group, MUFG
*Nippon Export and Investment Insurance, Nippon Export & Investment Insurance (NEXI)
*Sumitomo Mitsui Banking Corporation
*
The World Bank
The World Bank Group (WBG) is a family of five international organizations that make leveraged loans to developing countries. It is the largest and best-known development bank in the world and an observer at the United Nations Development Grou ...
*
Trade Development Bank
Trade Development Bank (TDB) was a private Geneva-based bank built by Edmond Safra, who also founded Brazil's sixth largest bank, Banco Safra, in the 1950s. Beginning with only US$1 million in funds, TDB grew into the flagship of Safra’s interna ...
References
External links
ATI's official website
{{authority control
World Bank Group
International finance institutions
United Nations Development Group
Organizations established in 2001
Intergovernmental organizations established by treaty
International organizations based in Africa
Export credit agencies