- African Trade and Investment Development Insurance (ATIDI) has demonstrated resilience in the face of global challenges.
- The organization has also unveiled its new brand identity, rebranding from ATI to ATIDI.
- ATIDI’s shareholders approved the distribution of dividends amounting to $8.2 million at the 23rd AGM in Kigali, Rwanda.
African Trade and Investment Development Insurance (ATIDI), formerly known as the African Trade and Insurance Agency (ATI), has demonstrated resilience in the face of global challenges, maintaining profitability and achieving positive earnings.
Although the difficult economic environment led to a 6 per cent decline in underwriting profitability, from $34.9 million in the previous year to $32.8 million in 2022, the company experienced strong growth in net written premium, investment income, total assets, and equity capital, which reached $553 million by the end of 2022.
Following its outstanding performance, ATIDI’s shareholders approved the distribution of dividends amounting to $ 8.2 million at the 23rd Annual General Meeting held in Kigali, Rwanda, last week.
“The year 2022 presented significant challenges, with health, political, economic, and climate shocks impacting global conditions. The combination of the COVID-19 pandemic, its ongoing economic effects, the Russia-Ukraine conflict, and climate change influenced our overall performance in 2022,” stated Mr. Manuel, the CEO of ATIDI.
Mr. Manuel highlighted that in 2022, ATIDI implemented several crucial initiatives to optimize its business operations, improve processes, enhance corporate and social governance, and expand its presence throughout Africa.
Dr. Yohnnes Birru, the Chairman of ATIDI’s Board of Directors, announced that the organization is executing its 2023-2027 corporate strategic plan to strengthen its unique assets and prepare for unprecedented growth.
“As we enter the next 5-year cycle of our corporate strategic plan, we align our vision, mission, and values to guide us towards a more developmental, transformational, robust, and reliable role,” said Dr. Birru.
ATIDI’s Rebranding
Rebranding plays a significant role in ATIDI’s evolution. Previously known as the African Trade Insurance Agency (ATI), ATIDI unveiled its new brand identity, emphasizing its commitment as Africa’s leading development insurer and a catalyst for the continent’s progress.
“Our new identity and strapline, ‘Re-thinking risk. Enabling finance,’ capture our distinctive approach, unparalleled expertise in Africa and its markets, and our tailored, specialized solutions that redefine how risk is perceived in Africa. This new identity reflects our status as one of Africa’s top-rated financial institutions and a vital multilateral entity,” explained Mr. Manuel.
ATIDI has grown from a small African startup operating in seven countries in 2001 to a pan-African institution with 21 member countries, a widespread presence across Africa, and significant global reach. In April 2023, Angola became ATIDI’s latest and first Portuguese-speaking member state, while Japan’s Export Credit Agency, NEXI, joined as the newest institutional shareholder in June 2023, injecting $14.8 million in capital.
With support from strategic development partners such as the African Development Bank (AfDB), the European Investment Bank (EIB), and the German Development Bank (KfW), ATIDI continues to expand its presence on the continent.
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