The Coronavirus (COVID 19) has caused tremendous uncertainty around the world. In these fluid times, we are reminded of the importance of pulling together as a global community. ATI is an African institution with extensive global reach, cementing our commitment to continuing to serve you, our partners and clients across Africa and around the world, with the ultimate objective of supporting Africa’s growth.
To date, the impact of Coronavirus (COVID 19) on the African continent has been less severe than other regions of the world. With about two dozen cases reported in 16 countries, though this figure is evolving on a daily basis. However, despite these low numbers, institutions such as The Economic Commission for Africa have issued warnings indicating that the crisis could dent Africa’s growth with estimates indicating annual GDP growth rates falling from 3.2% to 2%. Areas of particular concern include trade and oil-exporting nations losing upwards of US$65billion in revenues as crude oil prices continue to fall.
Tougher times are exactly when multilateral institutions need to redouble their development efforts whilst not losing sight of prudent risk assessment. As such, ATI is continuing to monitor developments regarding Coronavirus (COVID 19) and taking measures to minimize the impact on our clients and partners, our staff and other stakeholders. To this end, we have put in place precautionary measures to protect staff and to ensure business continuity that is, in part, guided by a Government of Kenya directive to reduce social interaction in order to blunt the spread of the virus.
To fully cooperate with the Government’s protocol, beginning 30th March, ATI staff will be working from home. All members of staff remain accessible in order to prevent any disruption in our ability to communicate with you.
Further, as a precaution, we are replacing in-person meetings with virtual meetings, and we have armed our staff with preventative hygiene and accurate information on the virus to ensure their continued safety.
With regards to upcoming events such as our Annual General Meetings scheduled to take place in Kampala, Uganda from 1 – 3 July, we will continue to monitor the situation and, should the need arise, we will communicate a contingency plan closer to the date.
In the meantime, we plan to continue focusing on underwriting excellence and shareholding expansion, which will see us bring on board even more African countries, who we anticipate will need the protections of ATI’s guarantee instruments now, more than ever.
For additional information or questions regarding our measures to effectively manage our business operations under the extraordinary circumstances brought on by the spread of the coronavirus, you can reach us at underwriting@ati-aca.org or search www.ati-aca.org for information on our record results and the impact of our innovative risk solutions.
