Nairobi, 29 November 2024 — The African Trade & Investment Development Insurance (ATIDI) announces the celebration of the 10th anniversary of its Whole Turnover (WTO) Credit Risk Insurance policy with Longulf Trading (UK) Ltd, a London-based company specializing in packaging products. This partnership has been instrumental in facilitating trade across key African markets.
Through the WTO insurance cover, ATIDI has provided coverage tailored to 126 approved buyers in the packaging of raw materials—primarily paper, plastics, tin steel, and aluminum. This initiative spans markets including Côte d’Ivoire, Egypt, Ghana, Kenya, Malawi, Morocco, Mozambique, Nigeria, Rwanda, Senegal, South Africa, Tanzania, Togo, Uganda, Zambia and Zimbabwe. Through our coverage, Longulf has facilitated transactions amounting to approximately USD 102 million in turnover over the past ten years.
The WTO cover is designed to mitigate the financial risks associated with credit sales in these critical sectors. This Credit Risk Insurance provides protection against potential payment defaults and buyer insolvency, enhancing supplier confidence and facilitating smoother transactions across markets with growing demand for sustainable packaging solutions, ensuring financial security for suppliers is more critical than ever.
Key Features of the Credit Risk Insurance Program:
ATIDI’s WTO cover has supported Longulf to navigate complex market conditions, including inflationary pressures driven by logistics, shipping challenges, and global economic factors. Longulf continues to fully cooperate with ATIDI in addressing these challenges, underscoring the strength of our partnership. The initiative addresses the unique challenges faced by suppliers in emerging markets, where access to financing and payment security are often constrained. By enabling suppliers to protect their sales, ATIDI helps to foster economic growth and promotes sustainable business practices across the continent. In addition, buyers gain access to extended payment terms which helps improve trading margins, as trade credit is a cheaper alternative to working capital loans
Quote from Manuel Moses, ATIDI CEO
“We believe that this Credit Risk Insurance program is a game changer for suppliers in the manufacturing sector. By providing robust financial protection, we aim to foster trust and encourage trade across Africa’s dynamic markets thus supporting the objectives of the African Continental Free Trade Area AfCFTA.
