The African Trade Insurance Agency (ATI) provides political, investment and trade credit risk insurance and surety bonds to clients doing business in its member countries.
NAIROBI, Kenya (ATI)―At a press conference, the CEO of the African Trade Insurance Agency (ATI), George Otieno, along with H.E. Dina Mufti, the Ethiopian Ambassador and Gabriel Negatu, Regional Director, African Development Bank announced today that it is ready to begin covering transactions in Ethiopia and Zimbabwe. After a year-long process that was supported with funds from the African Development Bank, both countries are now members.
The announcement will give investors crucial comfort to start or continue doing business in these countries.
ATI was established in 2001 by African governments and a range of other shareholders to ease the concerns of investors by providing a range of investment and political risk insurance products.
In the case of Ethiopia, one of Africa’s fastest growing economies, ATI will help the country maintain its status as one of Africa’s biggest success stories.
The $66 billion economy has been expanding as much as 10.3 percent annually over recent years, according to the International Monetary Fund, with a dip to 6.5 percent last year due to drought. Ethiopia has also been successful in attracting large manufacturers such as Unilever NV, Diageo Plc and Hennes & Mauritz (H&M) and has taken the lead in export of agricultural products.
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