Q. The African Trade and Investment Development Insurance's 24th Annual General Meetings (AGM) was held in Zambia this year. Please share the highlights of this pan-African event in line with the theme, 'Empowering tomorrow, Enabling investment'.
A. Our AGM validated our results for 2023 and allowed us to bring together key government representatives, policy-makers and investors to reflect on the event's theme, which is aligned with Africa's main development constraint: accessing capital to fund our continent's development. In 2021, Africa received only 3.5% of global Foreign Direct Investment (FDI) flows, the lowest among the six continents, despite ample investment opportunities. Through extremely rich panels, deliberations identified ways and opportunities of addressing this challenge. Leveraging ATIDI's unique de-risking solutions was one of them.
Q. Tell us more about ATIDI's 2023 results, highlighting the positives despite significant geopolitical and economic challenges globally and in Africa.
A. 2023 was ATIDI's best year since inception. Here are a few highlights: - Our profit for the year increased by 205% to US$69.1 million; - Our insurance revenue grew by 14% to US$155.7 million; - Our gross exposures grew by 19% to US$9.6 billion; - Our total assets grew by 27% to US$837.1 million; - Our equity grew by 25% to US$699 million; - We declared a US$17.3 million dividend.
Our record performance is all the more outstanding as it comes in a period marked by uncertainties, slow global economic recovery, tight financial conditions and geopolitical tensions.
Q. Briefly describe the corporate strategic plan for the 2023-2027 period, which seems to be geared at optimizing the organization's governance processes and performance to strengthen its developmental impact for ATIDI.
This story is from the August - September 2024 edition of Forbes Africa.
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This story is from the August - September 2024 edition of Forbes Africa.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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