After undisclosed new cash injections into the pan-African Institution, Togo and Benin have surpassed Kenya as the leading shareholders of the African Trade Insurance Agency (ATI). According to the institution’s statistics as of June 2022, Togo has grown its share in ATI to 8.5 percent based on the company’s paid-up capital, which is now at Sh4.69 billion ($35.4 million).
Benin’s ownership now stands at 7.98%, with a capitalization of Sh4.4 billion ($33.3 million).
With a 7.29 percent interest based on its capital contribution of Sh4 billion ($30.4 million), Kenya, which had previously been the largest shareholder, has fallen to third position.
When its capital was $29.2 million in December 2021, Kenya’s share was 7.99 percent (Sh3.8 billion at current exchange rates). By adding fresh capital or reinvested profits, Member States have been growing their investment in ATI.
Nairobi will continue to serve as the headquarters of the pan-African trade insurer despite Kenya’s diminished position, with the market still accounting for the majority of ATI activities. Kenya was the first stakeholder, and it will continue to be the biggest shareholder through 2022.
Angola will soon become the institution’s 21st member nation as part of its plan to increase the number of shareholders. To companies, investors, and lenders interested in conducting business in Africa, the agency offers political risk protection.