ATI, NEXIM Partner To Promote Investment, Regional Trade
The African Trade Insurance Agency (ATI) and the Nigerian Export-Import Bank (NEXIM) have signed a Memorandum of Understanding (MoU) to enhance cooperation and partnership in promoting investment and regional and global trade.
The MoU was signed by Mr. Manuel Moses, Chief Executive Officer of ATI, and Mr. Abba Bello, Managing Director/ Chief Executive of NEXIM Bank.
The MoU aims at complimenting each institution’s experiences, resources and expertise in the perspective of business and policy development. This will particularly form a general information exchange mechanism and cooperation on specific projects.
Nigeria became an ATI member state in August 2020, allowing the country to attract additional insurance capacity to help promote trade and investment in Nigeria.
It is expected that this partnership between NEXIM and ATI will cement opportunities for insurance, reinsurance, co-insurance, and capacity building to support the Nigerian economy in implementing its medium and long-term National Development Plan (NDP 2021 – 2025), which seeks to invest massively in infrastructure, ensure economic stability, enhance the business environment, improve on social indicators and living standards of Nigerians, among other deliverables.
Speaking on the development, the CEO, ATI, Manuel Moses, said “This MoU acknowledges the effort necessary to identify more opportunities in Nigeria and the West African region. Our cooperation with NEXIM Bank has come at an opportune time as Nigeria prepares to bounce back post-COVID-19. We are committed to supporting NEXIM Bank in order to pave way for more trade and investment not only in Nigeria but also across the entire African continent.”
According to the MD/Chief Executive, NEXIM, Abba Bello,‘’ This invaluable partnership heralds new opportunities to deepen Nigeria’s trade and investments within the regional market. We hope to leverage the partnership to de-risk the business environment to enable Nigerian businesses to thrive and be fully integrated into the regional and global value chains. We are quite excited to work with ATI on this value-adding partnership’’
