The African Trade Insurer (ATI) says it’s got cumulatively supported $25 billion valuation on trade and investments into its states since inception.

During its 17th Annual General Meeting in Nairobi, Kenya , the ATI urged African governments to intently consentrate on growing intra-African trade and diversifying their economies away from commodity reliance in an effort to reduce vulnerability to external shocks.

“With sub-Saharan Africa’s GDP growth rates most likely to hit an all-time low 1.5 percent, depressed commodity minute rates are seen for being one of the leading drivers with export producers making up two-thirds within the region’s growth,” it said.

In an argument issued today, May 11, 2017 and copied to ghanabusinessnews.com, the pan-African investment and credit risk insurer stated it posted record outcomes for the sixth consecutive year.

“ATI has moved from being loss making as recently as 2011 to posting a positive net result representing a 36 per cent increase over 2015. Among other factors, ATI attributes this success to stronger partnerships with African governments, who increasingly see the value of ATI thus to their development and growth objectives,” it added.

The insurer revealed that in 2016, its impact in Africa and globally, continued to increase.

“In one more six months time, the company attracted sign ups C?te d’Ivoire, Ethiopia, Zimbabwe and earlier in 2016, great britain’s export credit agency, UKEF.  ATI also insured $4 billion property value trade and investments into its African states while backing strategic projects such as $159 million loan within the African Development Bank to back up Ethiopian Airline’s fleet expansion.  ATI also underwrote the initial provide a non-member country in Angola in first quarter 2017, reflecting the company’s new pan-African mandate,” it said.

Ghana just isn’t yet part of the ATI. The united states since 2013 has been urged to speed on the procedure of growing to be a member, so that it may be helped by the opportunities obtainable for member-countries.

Started last year, only 13 on the 54 countries in Africa are members. These include Burundi, Kenya, Benin, The Democratic Republic of Congo, Ethiopia, Madagascar, Malawi, Rwanda, Uganda, Tanzania, Zimbabwe, Zambia and Ivory Coast.

It has other institutional members which include the African Development Bank.

By Emmanuel K. Dogbevi

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