The African Solidarity Fund (ASF) and the African Trade & Investment Development Insurance (ATIDI) signed a framework cooperation agreement on the sidelines of the Africa Investment Forum 2024 (AIF 2024).
This agreement establishes a foundation for strategic collaboration aimed at promoting economic development and mitigating the risks associated with investment and trade in Africa.
The agreement outlines a cooperative framework to support infrastructure and economic development projects in the member states of both institutions including: Benin, Burkina Faso, Burundi, Chad, Côte d’Ivoire, Mali, Niger, Rwanda, Senegal and Togo. It also provides essential risk mitigation for investors, corporations and lenders seeking to invest in Africa.
The main objectives of the partnership
- Marketing of both organisations’ risk mitigation solutions for commercial and investment transactions.
- Supporting the development of renewable energy sources and infrastructure within the framework of the African Continental Free Trade Area (ACFTA).
- Developing professional skills and improving the business environment in Africa.
“This agreement marks an important milestone in promoting sustainable development in Africa. We are joining forces to drive investment and encourage economic growth across the continent, while ensuring a secure environment for investors,” said managing director of the ASF Mr Abdourahmane Diallo.
“This partnership gives us the opportunity to strengthen our range of practical financial solutions designed to meet Africa’s economic challenges, including by mitigating the risks that often hinder trade & investment. It also reflects the need for multilateral institutions to work together to facilitate access to development financing for our continent. Together, we will help create a prosperous future for member states and African businesses,” said ATIDI CEO Manuel Moses.
This memorandum of understanding marks a turning point for both institutions, which are committed to coordinating their efforts to enhance intra-African trade, encourage investment in strategic projects and promote economic development across the continent.
