ATIDI was founded in 2001 by African States to cover trade and investment risks of companies doing business in Africa. ATIDI predominantly provides Political Risk, Credit Insurance and, Surety Insurance. Since inception, ATIDI has supported USD78 billion worth of investments and trade into Africa. For over a decade, ATIDI has maintained an ‘A/Stable’ rating for Financial Strength and Counterparty Credit by Standard & Poor’s, and in 2019, ATIDI obtained an A3/Stable rating from Moody’s, which has now been revised to A3/Positive.
About the Regional Liquidity Support Facility (RLSF)
ATIDI and the German Development Bank, KfW, with financing from the German Federal Ministry for Economic Cooperation and Development (BMZ), launched the RLSF in 2017. The Facility was created to help tackle climate change and attract investments by supporting renewable energy projects in ATIDI’s member countries. In 2022, the Norwegian Agency for Development Cooperation (Norad) committed additional funding towards the continued implementation of RLSF. RLSF has a capacity of USD153.7 million and supports small and mid-scale renewable energy projects with an installed capacity of up to 100 MW (larger projects can be considered on a case-by-case basis) by protecting the projects against the risk of delayed payments by public offtakers; in turn improving project bankability and ensuring that more projects reach financial close.
About the African Energy Guarantee Facility (AEGF)
In 2017, following a market assessment, leading German reinsurer Munich RE, the African Trade Insurance Agency (ATIDI) and the European Investment Bank (EIB) together launched the African Energy Guarantee Facility (AEGF). In January 2020, KfW Development Bank, signed a European Fund for Sustainable Development (EFSD) guarantee agreement that makes KfW co-guarantor of AEGF. The African Energy Guarantee Facility supports long-term energy projects in sub-Saharan Africa. With ATIDI as the initial primary insurer, the Facility will benefit from an open architecture to potentially include other insurers in future.