ACA supports Togo against political and commercial risks

To inspire government agencies and the private sector on Togo’s politics (investment) and credit risk insurance, the African Trade and Insurance Agency (ATI) has organized a series of sensitization activities in Lome in collaboration with Togo’s Ministry of Economy and Finance. bottom. European Investment Bank (EIB) and Kfw Development Bank.

Togo has benefited from approximately 176.9 billion FCFA, or $ 305 million in underwriting capacity. This is the amount used to cover sectors such as finance, transportation and road infrastructure. The country has been a member of ATI since 2020, and thanks to a concessional loan from the EIB, the first participants were $ 12.5 million. In 2021, KfW provided an additional $ 22.6 million in ATI to increase capital in West African countries. Togo has benefited $ 305 million in the financial and transportation sector from ATI’s insurance capabilities. He has gained more support. The Togolese government and commercial banks continue to be ACA’s main customers.

Nonetheless, ATI plans to fully support the government in electrification projects by 2030 to achieve the SDG 7 through the Regional Liquidity Assistance Facility (RLSF).

A joint initiative of RLSF, ACA, KfW and the Norwegian Agency for Development Cooperation (Norad). This is a means of taking on the short-term liquidity risk faced by independent renewable energy producers (IPPs) who sell electricity to sub-Saharan African utilities.
“The presence of the African Trade and Insurance Agency (ATI) in Lome this week is the result of a long membership process made possible thanks to the vision of President Faure Gnassingbet of the Republic to make Togo a fascinating country. It’s a strong, resilient, sustainable and inclusive economy, “said Sani Yaya, Togo’s Minister of Economy and Finance. He adds: ‚ÄúThis event gives us the opportunity to build close partnerships with key companies in the African financial sector. As a financial services hub hosting the headquarters of major bank holding companies and well-known subregional financial institutions, we ATI aims to be a reference partner for private sector financing, especially SMEs and project targets. Sectors such as Africa, Infrastructure, Energy, Logistics and Transportation, Digital. ACA Secretary Manuel Moses said. “ACA aims to help Togo work together to strengthen its competitiveness. Therefore, I urge companies and investors to rely on ACA for risk mitigation solutions. We recommend that you remember that ACA does not compete with your local insurer, as the risks covered by ACA are excluded from your local insurer. On the contrary, we Improves Togo’s business environment by establishing partnerships with the public and private sectors and developing sustainable reinsurance capabilities of national insurers to stimulate economic development in Togo and beyond. I am supporting. “”