AFRICAN Trade & Investment Development Insurance (ATIDI) and the African Solidarity Fund (ASF) have formalised a key partnership aimed at advancing economic development and mitigating investment risks across Africa.
The agreement, signed during the just-ended Africa Investment Forum (AIF 2024) in Rabat, Morocco, provides a framework for both institutions to support infrastructure and economic development initiatives in their respective member states. These include countries like Benin, Côte d’Ivoire, Mali, Niger, and Senegal, among others. The partnership will help investors, corporates, and lenders navigate the challenges of investing in Africa, with a focus on risk mitigation and fostering growth.
Key milestone for African development
ASF’s Managing Director, Abdourahmane Diallo, expressed optimism over the deal, describing it as a critical step towards fostering sustainable development across the continent. ‘We are joining forces to drive investment and economic growth while ensuring a secure environment for investors,’ Diallo said.
ATIDI’s CEO, Manuel Moses, also highlighted the strategic significance of the collaboration. ‘This partnership offers an opportunity to enhance our range of financial solutions to address Africa’s economic challenges. It reflects the necessity for multilateral cooperation to facilitate access to financing and create a prosperous future for African businesses,’ Moses added.
Key objectives and focus areas
The partnership outlines several key objectives, including:
- Promoting risk mitigation solutions for commercial and investment transactions.
- Supporting renewable energy development and infrastructure projects within the African Continental Free Trade Area (AfCFTA).
- Enhancing professional skills and improving Africa’s business environment.
Both institutions are committed to boosting intra-African trade and promoting investment in projects with significant strategic impact. The cooperation also aims to promote long-term economic development across the continent.
About ASF and ATIDI
The African Solidarity Fund (ASF), founded in 1979 and headquartered in Niamey, Niger, works to facilitate access to financial resources for investment and development projects across Africa. ASF is present in 29 African states and operates in seven regional economic communities.
Founded in 2001, ATIDI provides insurance solutions to cover trade and investment risks, particularly political risk, credit insurance, and surety insurance. It has supported over $85bn worth of cross-border trade and investments into Africa. ATIDI holds an ‘A/Stable’ rating from Standard & Poor’s and an ‘A3/Positive’ rating from Moody’s.
For more information on ASF and ATIDI, visit their websites: www.fondsolidariteafricain.org and www.atidi.africa.
