Nairobi, 9 October 2024 — At its 101st meeting held on 5 October 2024, the Board of Directors of the African Trade Insurance Agency (commonly known as the African Trade & Investment Development Insurance – ATIDI), announced the election of Professor Kelly Mua Kingsly as the new Chair of the Board. He is deputized by Ms. Christina Westholm- Schröder. The election of the new Board leadership follows the appointment of new Board Members by ATIDI’s Annual General Meeting in line with ATIDI’s continued commitment to strong corporate governance.
The new Board, which includes ATIDI’s first Independent Director, will play a critical role in steering the organization’s strategic direction and governance, further enhancing the organization’s efforts to foster sustainable growth across the continent.
Professor Kelly is the Director of Finance Operations at the Ministry of Finance’s Directorate General of Treasury in Cameroon. In this capacity, he has been instrumental in designing and implementing strategies for monitoring public revenue and expenditure, preparing comprehensive financial reviews and spearheading public finance reforms.
In addition to his role at the Ministry of Finance, Professor Kelly serves as the Censor at the Central Bank of Central African States (BEAC) and represents Cameroon at the Regional Advisory Commission on Financial Markets (COSUMAF). His recent appointment as Cameroon’s designated representative with the United Nations Development Program and the European Investment Bank for GEF projects underscores his commitment to managing climate finance and enhancing regional debt resilience.
Ms. Westholm-Schröder is Sovereign’s Chief Underwriter and Senior Vice President, with more than 35 years of experience in the political risk insurance industry. She is responsible for all aspects of Sovereign’s transactional underwriting and also leads Sovereign’s successful cooperation with multilaterals and export credit agencies.
Prof. Kelly’s election as the first Cameroonian Board Chair has a significant impact on fostering relationships and networks within the CEMAC (Central African Economic and Monetary Community) and the broader West African region. His role is set to facilitate collaboration among member states, enhance trade relations and promote regional integration. For more information on the membership process, visit https://www.atidi.africa/investor- relations/membership-process/
Quote from Prof. Kelly, ATIDI Board Chair
“Together with ATIDI’s leadership, my vision is to support best corporate governance practices within ATIDI and drive economic growth that benefits the continent. I also aim to expand
ATIDI’s outreach and visibility across Africa. I encourage all CEMAC countries to consider
applying for membership in ATIDI, as this will further strengthen regional cooperation and open new avenues for economic collaboration. I also take this opportunity to express my deep appreciation to the outgoing Board Chairman and his team for their outstanding leadership in bringing ATIDI to such a level of performance.”
Quote from Manuel Moses, ATIDI CEO
“We welcome our new Board of Directors, led by Prof. Kelly, whose vision and leadership will
be instrumental in guiding ATIDI’s future. With the Board’s diverse expertise, we expect that
we will drive impactful initiatives that foster sustainable trade and investment across Africa. This new leadership team will further enhance our outreach efforts and engage our stakeholders more effectively, creating a stronger and more connected community. Together, we are poised to make a significant difference in the economic landscape of the continent.”
ATIDI was recently upgraded by Moody’s from A3/Positive to A2/Stable – while S&P affirmed its A/Stable rating, reflecting the organization’s strong financial management and strategic direction. This positive assessment positions ATIDI well as it implements its 2024-2027 strategy, which aims to expand its footprint and strengthen its impact across the region. The Board’s support will be crucial in navigating this ambitious strategy, ensuring that ATIDI leverages its strengths and address challenges effectively. Their insights and networks will be vital ATIDI seeks to build new partnerships and enhance its investment initiatives.
Prof. Kelly succeeds Dr. Yohannes Ayalew Birru who has diligently served for two consecutive terms of three years. He was deputised by Ms. Hope Murera, the Managing Director of Zep- Re. During their leadership, ATIDI’s member states increased from 14 to 24. Similarly, gross exposure increased from USD4.8million to USD9.6 billion, profits from USD12 million to USD69.1 million and assets from USD419 million to USD837 million.
