Japan’s Export Credit Agency, Nippon Export and Investment Insurance (NEXI), has become the newest shareholder of the African Trade Insurance Agency (ATI) with a $14.8 million capital injection, the Pan African insurer says. The equity investment this week is expected to reinforce the growing cooperation between Africa and Japan under the Tokyo International Conference on African Development (TICAD). ATI Chief Executive Officer Manuel Moses has welcomed NEXI, congratulating the agency for becoming the newest institutional shareholder of ATI. “I am happy that our strategic collaboration has culminated into NEXI’s equity investment in ATI as a shareholder,” he said. The African Trade Insurance Agency was founded in 2001 by African States to cover trade and investment risks of companies doing business in Africa.

Source: Ethiopian News June 16, 2023 21:19 UTC