NAIROBI, Kenya Jul 1 – Deputy President Kithure Kindiki has emphasized the need for a strong African financial architecture to reduce investment risks, mobilize resources, and boost investor confidence, saying this will attract more long-term investment into the continent even as global financial reforms continue.
The Deputy President spoke while representing President William Ruto during the opening of the 26th Annual General Meeting of the African Trade and Investment Development Insurance (ATIDI) in Nairobi.
Kindiki commended ATIDI for its continued partnership with Kenya in key sectors including energy, agriculture, infrastructure, and trade, noting that public funding alone cannot sustainably finance the country’s development agenda.
He also called on African political leaders to promote long term stability, and good governance, saying a stable political environment is essential for ATIDI and other continental financial institutions to achieve their development goals.
The African Trade and Investment Development Insurance is a multilateral African financial institution that helps countries and businesses reduce political and commercial risks associated with trade and investment in Africa.
Formerly known as the African Trade Insurance Agency (ATI), it rebranded to ATIDI in 2023 to reflect its broader mandate beyond trade insurance.
Its main role is to make investment in Africa safer by providing insurance and risk mitigation products that protect investors, exporters, lenders and governments against losses arising from political and commercial risks.