Khartoum, Sudan – March 7, 2022. BADEA welcomed the African Trade Insurance Agency (ATI), the African Solidarity Fund (FSA) and the African Guarantee and Economic Cooperation Fund (FAGACE) which are institutions multilateral guarantee and insurance companies in Africa. These institutions were represented by H.E. Dr Sidi Ould Tah (BADEA), H.E. Ngueto Tiraina Yambaye (FAGACE), H.E. Amadou Abdoulaye Diallo (FSA) and H.E. Manuel MOSES (ATI). The Director General of the African Guarantee Fund, Mr. Jules Ngankam, who was scheduled to attend the meeting, was unable to attend due to an unexpected circumstance.
The objective of the meeting was to explore synergies, insurance and credit guarantee schemes to meet the demand of MSMEs, public and private projects and trade finance solutions. These institutions are committed to joining efforts and leveraging synergies to more effectively reduce investment and trade risks in Africa and help accelerate the implementation of the African Continental Free Trade Area (AfCFTA).
About AGF
The African Guarantee Fund (AGF) is an African financial institution mandated to provide financial guarantees to financial institutions to boost the financing of SMEs and unlock their potential to ensure inclusive growth on the continent.
About ATI
The Africa Trade Insurance Agency (ATI) is a pan-African institution responsible for transforming African risks into opportunities by providing insurance and financial products, in partnership with the private and public sectors, with the objective ultimately transform Africa into a preferred destination for trade and investment.
About BADEA
BADEA is a multilateral development financial institution owned by 18 member states of the League of Arab States (LAS) signatories to its Establishment Agreement of 1974. Its mission is to promote economic development in Africa and to foster cooperation between African countries and the Arab world through investment and trade. In its first rating exercise, the Bank was rated Aa2 with a positive outlook by Moody’s.
About FAGACE
The African Guarantee and Economic Cooperation Fund (FAGACE) is an international multilateral financial institution whose mission is to promote public and private investments.
About the FSA
The African Solidarity Fund (ASF) is an African multilateral financial institution whose mission is to promote economic development and combat poverty in Member States by financing productive investments in the private sector, SMEs/SMIs and institutions. microfinance.
