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Non-honoring of Sovereign or Sub-Sovereign Obligations

This insurance covers the public buyer/borrower’s credit risk. This includes cover for non-honoring of sovereign or sub-sovereign guarantees. This insurance protects lenders, investors and suppliers against losses resulting from the sovereign or sub-sovereign’s failure to make payment when due under the insured facility/contract.

Application

  1. Submit an insurance enquiry form
  2. Once the enquiry is approved, ATIDI issues a Non-Binding Indication (NBI)
  3. If the terms and conditions quoted on the NBI are acceptable to you, ATIDI will ask you to apply for insurance and supporting documents
  4. Once ATIDI receives all the relevant documents, you will receive your policy

Eligibility

In order for ATIDI to support a transaction, the investment or project must be located in at least one of our African member countries.

Project Samples

Risk Country: Tanzania

Sector: Energy
Risk Party: National power utility
Project: Construction of a hydropower plant
Cover: Non-honoring of Sovereign or Sub-Sovereign Obligations
Amount: USD61 million

Risk Country: Kenya

Sector: Financial Services
Risk party: Ministry of Finance
Transaction: Syndicated Loan
Financier: International banks
Cover: Non-honoring of Sovereign or Sub-Sovereign Obligations
Amount: USD600 million

Risk Country: South Sudan

Sector: Oil & Gas
Risk Party: Government of South Sudan
Transaction: Supply of fuel to the Government
Financier: An African Multilateral Bank
Cover: Non-honoring of Sovereign or Sub-Sovereign Obligations
Amount: USD50 million

Risk Country: Benin

Sector: Construction
Risk Party: Government of Benin
Transaction: Construction of Roads
Financier: An International Bank
Cover: Non-honoring of Sovereign or Sub-Sovereign Obligations
Amount: EUR350 million