Deputy President Kithure Kindiki has called for greater confidence in Africa’s economic potential, saying the continent’s transformation depends not only on its abundant natural resources but also on building trust among investors through strong African institutions capable of mitigating investment risks.
Kindiki made the remarks while officially opening the 26th Annual General Meeting and Silver Jubilee celebrations of the Africa Trade and Investment Development Insurance (ATIDI) in Nairobi, where the pan-African institution marked 25 years of promoting trade, investment and economic development across the continent.
The high-profile gathering brought together National Treasury and Economic Planning Cabinet Secretary John Mbadi, finance ministers, ambassadors, governors, development partners, board members, shareholders and private sector leaders from across Africa and beyond to celebrate the institution’s achievements and chart its future direction.
Representing President William Ruto, Kindiki congratulated ATIDI for reaching its Silver Jubilee, describing the milestone as evidence that African-owned financial institutions can successfully mobilize investment and address the continent’s development challenges through innovative risk management solutions.
In his keynote address, the Deputy President challenged the traditional narrative that Africa’s greatest wealth lies solely in its vast mineral deposits, youthful population, fertile land or renewable energy resources.
Instead, he argued that confidence is the continent’s most valuable asset.
“When people believe in a country’s future, they invest. When investors believe, businesses grow. When businesses grow, jobs are created, families prosper and nations flourish,” Kindiki said.
He noted that the founders of ATIDI understood 25 years ago that development would not be driven by capital alone, but by institutions capable of inspiring confidence among investors through credible risk mitigation mechanisms.
“The founders recognized that Africa needed institutions that understand the realities of our markets, reduce investment risks and unlock opportunities in ways that reflect the aspirations of our countries,” he said.
Kindiki praised ATIDI for demonstrating that institutions built by Africans for Africa can meet international standards while remaining responsive to the continent’s unique economic needs.
Originally established in 2000 as the African Trade Insurance Agency by seven founding member states—Burundi, Kenya, Malawi, Rwanda, Tanzania, Uganda and Zambia—the institution has grown into one of Africa’s leading multilateral investment and credit insurers.
Following its 2023 rebranding to Africa Trade and Investment Development Insurance (ATIDI), the organization now has 24 African member states and 14 institutional shareholders representing Africa, Europe, Asia and the Americas.
A commemorative documentary screened during the ceremony highlighted how the institution was created to counter negative perceptions of Africa as a high-risk investment destination and has since facilitated more than US$85 billion in trade and investment.
Chief Executive Officer Manuel Moses said the institution continues to post strong financial results despite global economic uncertainty.
He reported that ATIDI recorded US$9.2 billion in total exposure in 2025, with profits rising by 20 per cent to US$71.4 million. Total assets increased to US$1.06 billion, while shareholders’ equity grew by 12 per cent to US$883 million.
“Our performance reflects our commitment to excellence and our determination to deliver value through every transaction we support,” Moses said.
He highlighted ATIDI’s growing portfolio of products supporting renewable energy, cross-border trade, infrastructure development and financing for small and medium-sized enterprises.
Among the institution’s flagship initiatives is the Regional Liquidity Support Facility, which has helped unlock financing for renewable energy projects, including Kenya’s geothermal developments and major wind power investments.
The organization is also working with regional development finance institutions to implement a Regional Transport Guarantee Scheme aimed at facilitating trade under the African Continental Free Trade Area (AfCFTA).
Moses said the institution is entering a new strategic phase known as ATIDI 2.0, which seeks to strengthen African-led development financing by expanding innovative guarantee products and mobilizing greater domestic and international investment.
He appealed to member states to continue honouring ATIDI’s preferred creditor status, saying it remains critical in maintaining investor confidence and preserving the institution’s strong international credit standing.
ATIDI Board Chair Professor Kelly M. Kingsley described the institution as a testament to the power of partnership among African nations.
Quoting an African proverb, he told delegates that “wisdom is like a baobab tree; no one individual can embrace it alone,” emphasizing that the organization’s success has been built on collaboration among member states, shareholders and development partners.
He noted that ATIDI has become one of Africa’s most respected multilateral financial institutions by demonstrating that African solutions can effectively address African challenges while attracting global investment.
The meeting also welcomed Germany’s KfW Development Bank as ATIDI’s newest shareholder, a move expected to strengthen the institution’s capital base and expand its ability to finance transformative projects across the continent.
Delegates agreed that as Africa seeks to close its development financing gap amid global economic uncertainty, institutions such as ATIDI will play an increasingly important role in de-risking investment, mobilizing private capital and accelerating sustainable economic growth.
Concluding his remarks, Deputy President Kindiki urged African countries to continue strengthening institutions that inspire investor confidence, saying they remain essential to achieving inclusive development and long-term prosperity.
“As Africa continues to reshape its financial architecture, confidence will remain the foundation upon which investment, economic growth and shared prosperity are built,” he said.
