ATI to facilitate US$2 billion additional investments into Africa
*Launches rebranding Initiative
The African Trade Insurance Agency (ATI) said it is currently insuring 1 to 2 per cent of the Gross Domestic Product (GDP) of its member countries and is expected to facilitate US$2 billion of additional investments to the continent in the next 12 to 24 months.
ATI is also embarking on a rebrand exercise with the goal of obtaining an identity that provides a better fit to its growing stature as the largest provider of investment and trade credit insurance on the continent. The rebrand is expected to begin roll-out in mid-2021.
The statement by the Agency said the process will align ATI’s brand and business strategy, refresh its brand identity and grow its reputation, presence and visibility in the market, with the ultimate goal of accelerating ATI’s impact on Africa’s development.
It stated that BrandComms, a UK-based African-centric agency, has been contracted to undertake the rebranding exercise with ATI’s communications department taking the lead, adding that the team plans to interview stakeholders and solicit feedback through an on-line survey in order to include as many perspectives as possible in the interest of developing a brand that speaks to the needs of ATI’s stakeholders.
“Specifically, the new brand will support ATI’s refocused business strategy to grow the business through organic growth and innovation, underscored by three key focus areas: Bigger through more business volume, extended geographic reach and increased visibility; Better by mobilizing more resources, training and developing staff, increased efficiency, and; More relevant by increasing access to and lowering the cost of financing for Governments and investors in Africa and closer engagement with member countries.
“ATI has reached an exciting cross road, where the company has evolved from a loss-making institution to one with a year-on-year record-setting growth for the past eight years in addition to investment grade ratings from both S&P (A/Stable) for over a decade and, in 2019, (A3/Stable) from Moody’s. This is a perfect time for the institution to get refitted for a suit that better fits its growing global presence,” notes Benjamin Mugisha, ATI’s Chief Underwriting Officer.
“ATI has grown from a small African start-up, operational in just seven countries in 2001, into a pan-African institution with presence across Africa and with a significant global reach,” the statement added.
President Muhammadu Buhari has recently signed the instrument of ratification to the African Trade Insurance Agency’s (ATI) treaty that finalises Nigeria’s membership in ATI in a process that began some years ago. Membership in ATI allows Nigeria to attract additional insurance capacity to help attract investments and it also increases ATI’s capacity to support sovereign and commercial transactions in the country. Ultimately, Nigeria benefits because effective risk mitigation is vital to increasing investments and trade flows.
