MIGA and ATIDI Join Forces to Boost Investment in Africa

Manuel Moses, CEO of ATIDI

The Multilateral Investment Guarantee Agency (MIGA), part of World Bank Group Guarantees, and African Trade & Investment Development Insurance (ATIDI), a pan-African multilateral financial institution headquartered in Kenya, have signed a three-year partnership to accelerate foreign direct investment across Africa. This is the second agreement between the two organizations aimed at maximizing development impact.   

The organizations will collaborate by leveraging MIGA’s range of guarantee solutions and guarantee expertise through the World Bank Group guarantee platform, along with ATIDI’s expertise in insurance and guarantee products across the African continent. The partnership will also seek to improve efficiency in joint project due diligence, maximizing cost savings and eliminating duplication. 

“Our partnership with ATIDI will enable us to support countries in Africa in scaling and replicating development projects, thereby accelerating prosperity,” said Hiroshi Matano, MIGA Executive Vice President. “This agreement will play a significant role in helping the continent attract foreign investment for key development projects, thereby accelerating prosperity and helping create new jobs.”   

The agreement framework emphasizes mutual reliance, accountability, and comparability. Each party will regularly share operating standards and procedures to help identify comparable outcomes to further both organizations’ development mandates.  

“Enabling more investment to finance transformational projects is vital to Africa’s sustained development. MIGA’s and ATIDI’s de-risking solutions are essential to achieve this crucial agenda,” said Manuel Moses, CEO of ATIDI. “Beyond the signing of this agreement, we look forward to a dynamic collaboration with MIGA, to leverage our institutions’ respective assets for the benefit of our continent.” 

Both organizations have agreed to set up mechanisms to measure progress and results, including reports on joint projects, new products, capital mobilized, and reduced project processing times. Moreover, both parties will carry out joint marketing efforts, training, and seminars to strengthen cooperations and explore new investment opportunities in Africa. 

The strategic agreement framework underscores the commitment of MIGA and ATIDI to create a world free of poverty on a livable planet. By pooling resources, the two organizations aim to mitigate investment risks, thereby accelerating sustainable economic growth in Africa.

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