African Trade and Investment Development Insurance (ATIDI) plans to double its capital to $2-billion over the next two years, its chief executive told Reuters, as African leaders look to a new financing model for the hundreds of billions of dollars needed for infrastructure investment on the continent.
"Our ambition is to get to $2-billion ... what limits us is capital," Manuel Moses told Reuters, adding the process depended on securing new shareholders but would likely take roughly two years. "We want to do it as soon as possible."
Talks are ongoing with France, other G7 nations and about 30 African nations who have not yet joined, Moses said.
"We have to convince these countries, these partners to speed up their processes," he said.
Nairobi-based ATIDI was set up 25 years ago to de-risk investment in Africa through insurance and guarantees to help channel private capital into riskier projects.
