ATIDI, the Pan-African trade and investment development insurer, has commenced its annual general meetings in Kigali, reaffirming its dedication to African development in the midst of global and regional economic recovery.
Running from July 6 to 7, the meeting brings together representatives from the organization’s 21-member states, along with a few non-member shareholders. Its objective is to validate the results of a challenging fiscal year 2022, characterised by significant headwinds resulting from health, political, economic, and climate shocks worldwide.
Formerly known as the African Trade Insurance Agency (ATI), ATIDI has unveiled a new brand identity with the slogan "Re-think Risk, Enabling Finance”. This new identity reflects the organisation’s evolution and its commitment to being Africa’s premier development insurer and catalyst for the continent's progress.
Manuel Moses, the Chief Executive Officer of ATIDI, said that the rebranding aligns with the implementation of the organisation’s 2023-2027 corporate strategic plan, aimed at enhancing its unique assets and preparing it for unprecedented growth.
The plan encompasses a wide range of risk-mitigation products offered by the organisation, including trade protection and guarantees against non-payment.
"We have made significant refinements that will enable us to address the growing risks associated with environmental and social governance,” Moses emphasised, stressing the importance of rethinking risk to facilitate finance.
Moses further expressed ATIDI’s commitment to changing the perception of risk in Africa by collaborating with investors to assess and navigate risks at a more localised level.
He highlighted the added value the organisation brings, noting that they hold a "stable” rating from international rating agencies, which indicates a secure investment and provides reassurance to investors.
"We also collaborate with global best reinsurers,” Moses added.
The Covid-19 pandemic has accelerated ATIDI’s drive towards digitalisation, enabling clients to engage with them electronically and virtually experience their operations. Moses stated that this digital transformation will involve leveraging data and artificial intelligence moving forward.
From its humble beginnings as a small African start-up operating in just seven countries in 2001, ATIDI has evolved into a pan-African institution with 21 member countries, a strong presence across Africa, and significant global reach.
As of 2021, ATIDI has achieved 11 consecutive years of steady profits and impressive financial results. These include gross underwriting revenues of USD 143.5 million, a 14 per cent increase compared to the previous year, and underwriting profitability that rose by 11 per cent from USD 29.8 million to USD 33 million in 2021.
During the opening session of ATIDI’s Annual General Meeting, Prime Minister, Edouard Ngirente, reiterated Rwanda’s support for ATIDI’s mission of transforming African risk into opportunities by providing insurance and financial products in collaboration with the public and private sectors.
Ngirente commended the organisation for its contribution to sustainable economic growth on the continent, aligning with its goal of turning Africa into a prime trade and investment destination.
Uzziel Ndagijimana, Minister of Finance and Economic Planning and Chair of the AGM, also reassured ATIDI of continued support.
"Our country strongly supports the pan-African agenda and believes that spreading the benefits of ATIDI’s solutions to a larger number of countries will deliver quicker results in our quest for growth and socio-economic development,” he said, adding that Rwanda commends ATIDI for its contribution to sustainable economic growth on the continent, in line with its mission to transform Africa into a prime trade and investment destination.