Rabat, Morocco – December 5, 2024
The African Solidarity Fund (ASF) and the African Trade & Investment Development Insurance (ATIDI) signed on the sidelines of the Africa Investment Forum 2024 (AIF 2024), a framework cooperation agreement, paving the way for further strategic collaboration to promote economic development and mitigate the risks associated with investment and trade in Africa.
The agreement provides a framework for cooperation in support of infrastructure and economic development projects in member states belonging to both institutions (Benin, Burkina Faso, Burundi, Chad, Côte d’Ivoire, Mali, Niger, Rwanda, Senegal and Togo), and also helps mitigate risk for investors, corporates and lenders looking to invest in Africa.
The main objectives of this partnership include:
Mr Abdourahmane Diallo, Managing Director of the ASF, said: “This agreement marks an important milestone in promoting sustainable development in Africa. We are joining forces to drive investment and encourage economic growth across the continent, while ensuring a secure environment for investors.”
Manuel Moses, CEO of ATIDI, added: “This partnership gives us the opportunity to strengthen our range of practical financial solutions designed to meet Africa’s economic challenges, including by mitigating the risks that often hinder trade & investment. It also reflects the need for multilateral institutions to work together to facilitate access to development financing for our continent. Together, we will help create a prosperous future for member states and African businesses.”
This Memorandum of Understanding represents a turning point for both institutions, which are committed to co-ordinating their efforts to boost intra-African trade, encourage investment in projects with strategic impact, and promote economic development across the continent.
