Germany boosts investment in Africa
Germany is to become a shareholder in the African insurance agency ATIDI. It insures investment and trade in African countries against risk.
Nairobi (d.de) - During a visit to Kenya, Germany’s Development Minister Reem Alabali Radovan has pledged to buy a stake in the insurance agency ATIDI worth a total of 27 million euros. The agency insures investments and trade in African countries against political and economic risks. This will make Germany the biggest non-African shareholder.
“We are committed to facilitating investment and trade so that more private capital flows to Africa. German and African companies will profit from this,” said Alabali Radovan.
She explained that this would make it easier for German firms “to tap into this enormous future market that the African continent has to offer”.
The purchase of shares will be financed using budget funds from the Development Ministry (15 million euros) and from the state-owned KfW development bank (12 million euros).
