CESCE becomes a shareholder of ATI and will promote trade between Africa and Spain
CESCE and ATI (African Trade Insurance Agency), an African multilateral insurer, will collaborate to identify business opportunities and mitigate the risks derived from the operations of Spanish companies in Africa.
This strategic alliance follows the entry of CESCE, on behalf of the State, in the shareholding of the pan-African insurer and will promote inclusive growth, trade and investment between Africa and Spain. Through this operation, CESCE, the Spanish Export Credit Agency (ECA), becomes the 30th investor in the Pan-African insurance company.
The incorporation of ATI as a shareholder reinforces CESCE's presence on the African continent, facilitates access to information on business opportunities for Spanish exporters and increases the visibility of CESCE's support for African sponsors and buyers of Spanish goods and services. This rapprochement will facilitate cooperation between the two entities in the search for joint solutions, for example, through reinsurance or coinsurance agreements. In the words of Beatriz Reguero, director of CESCE's State Account Area, "CESCE's entry into ATI will enable us to strengthen coverage on behalf of the State for Spanish companies' operations in Africa and represents an important step forward for our operations and strategy in the region".
CESCE, created in 1970, is the Spanish Export Credit Agency (ECA) and exclusively manages insurance on behalf of the State, which mitigates the main risks associated with the international activity of Spanish companies and facilitates obtaining financing and guarantees.
ATI is an international financial institution established in 2001 to promote investment and trade in member countries through risk coverage solutions. Its members include 18 African states, as well as entities such as the African Development Bank and the British (UKEF) and Italian (SACE) ECAs, among others. The African insurer maintains an A rating with a stable outlook, assigned by Standard & Poor's.
