The German development bank KfW acting on behalf of and for the account of the Federal Republic of Germany has become the latest shareholder in the African Trade & Investment Development Insurance (ATIDI).
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 is being marked on the occasion of 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.
Speaking at the signing ceremony, ATIDI CEO Manuel Moses said, “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. 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.”
KfW invested USD32 million to become a D2-class shareholder of ATIDI, a status dedicated to Export Credit Agencies and Non-African Public Entities.
Of this amount, USD18.4 million is funded from BMZ budget resources, with the remaining USD13.6 million coming from KfW’s own resources.
As such, it will assume the obligations and benefits related to its new shareholding status, including representation in ATIDI Governance and decision-making structures and equally participating towards improving German trade and investments in Africa in alignment with the G20 Compact with Africa (CwA 2.0).
KfW’s subscription in ATIDI is the culmination of a dynamic partnership between the two organizations. On behalf of the German Federal Ministry of Economic Cooperation and Development (BMZ), KfW has supported several countries’ membership in ATIDI with over USD100 million financing, thus strengthening the organisation’s capital base and expanding its ability to mitigate risk and mobilise private investment across African markets. The new equity participation adds a direct shareholding to this long‑standing cooperation.
“Today we reconfirm our long-standing strategic partnership with ATIDI,” said Christiane Laibach, Member of the Executive Board, KfW.
“Together, we intend to further enhance business opportunities for European and German investors in Africa to create prosperity and development for mutual benefit. Our membership is executed on behalf of the Federal Republic of Germany.
“It is only the latest culmination of a successful cooperation that has enabled the ATIDI membership of several African states and has created innovative insurance solutions to attract foreign investment on the continent.”
Established in 1948, KfW is Germany’s state-owned promotional and development bank and a key implementing partner of BMZ in international financial cooperation. It provides financing for projects in critical sectors including sustainability, infrastructure, renewable energy and small business growth in developing countries. Its shareholding in ATIDI is expected to stimulate up to $500 million in trade and investment between German companies and African markets.
In the photo: ATIDI and KfW officials sharing a light moment.
