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African Trade Insurance Agency offers risks mitigation facilities for exporters

African countries have been lagging behind in attracting quality investments and businesses due to perceived insecurity and lack of confidence that has pervaded the business environment in most of the post independence period. This has not only hindered the development of intra African trade but also limited the inflow of high value, quality investments into the continent and within the continent.

Export Trade has been a victim of the low confidence that requires all transactions to be based on delivery upon payment. In such a situation where there is lack of crediting in the business system, the volume of trade and horizons for expansion naturally becomes constrained.

The African Trade Insurance Agency (ATIA), a multilateral business insurance agency based in Nairobi (formed in 2001 by African States, with financial and technical support of the World Bank Group) has come up with facilities that offer comfort to businesses in Kenya and beyond through risks assurance and guarantees.

This facility promises reprieve to exporters and investments by minimizing the risks that cause apathy in doing business with Africa, including those related to politics(Political Risks) that has of recent been a bane to the efforts to develop businesses.  The proximity, within Nairobi, offers unrivalled opportunity for Kenyans.

Facilities offered by ATIA

Business  InterestsInterventions 
Commercial Risks
  • Buyers’ Insolvency 
  • Protracted default(payment delay)
  • Contract repudiation
  • Worldwide debt Collection
  • Credit checks on buyers
Political  Risks
  • Cancellation of Import/Export license
  • War and related disturbances
  • Confiscation, Expropriation & Nationalisation
Geographical Coverage
  • Exports/imports to and  from its member countries all over the World
  • Risks also underwritten in countries that recognize ATIA, e.g. Trade Credit insurance for exports/imports to and from Europe, Middle East, Africa and Asia.
Processes
  • Undertaking due diligence on applicant (exporter) /importer (buyer).
  • ATIA uses the services of “Atradius” the Dutch Export Credit Agency to provide information on buyers outside Africa.
  • Credit profiles re also sourced from Credit Information Agencies based in Kenya on importers/suppliers located in Africa.
Premium
  • Depends on the turnover declared by the applicant (this is minimal and should not scare potential applicants).
Customer Confidence
  • Product portfolio is periodically reviewed and may be tailored based on customer needs and developments in the target markets e.g Commercial Risks of buyers in their relevant markets.
  • ATIA issues a policy setting out the Terms and conditions of the cover.

Useful Contacts:
Chief Executive
African Trade Insurance Agency (ATIA)
5th Floor, Kenya Re Towers,
Off Ragati Road, Upper Hill,
P.O Box10620
GPO 00100,
Nairobi
Attn: Mr. Steward Kinloch-Chief underwriting Officer
       Ms. Sherry Kennedy-Communications and Marketing Officer
Tel: +254-20-2726999/2719727
Fax: +254-20-271-9701
E-Mail: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it ; This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
Www.ati-aca.org

Liaison Office;
Chief Executive.
Export Promotion Council
16th Floor Anniversary Towers, University way,
P.O Box40247-00100 GPO
Nairobi.
Tel:+254-20-2228534-8
Fax:+254-020-2218013/2228539
Email: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

 
 
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