KfW, Germany’s state-owned development bank, has formalised a new equity stake in African Trade & Investment Development Insurance (ATIDI), making it the insurer’s 13th institutional shareholder and strengthening one of Africa’s leading development insurers’ capacity to underwrite and catalyse trade and investment across the continent.
The subscription agreement was signed at a high-level meeting in Nairobi attended by ATIDI CEO Manuel Moses and Germany’s Federal Minister for Economic Cooperation and Development, Reem Alabali Radovan. KfW’s participation in ATIDI is both a continuation of a long-standing partnership and a tangible demonstration of Germany’s commitment to strengthening economic ties with Africa and supporting regional institutions that reduce investment risk and promote private-sector engagement.
KfW invested USD 32 million to acquire ATIDI D2-class shares, which are reserved for Export Credit Agencies and non-African public entities. USD 18.4 million of the total commitment will come from the German Federal Ministry for Economic Cooperation and Development’s (BMZ) budget, with USD 13.6 million coming from KfW’s own funds. As a D2 shareholder, KfW will have the corresponding rights and responsibilities within ATIDI’s governance and decision-making structures, and it is expected to play an active role in advancing German trade and investment initiatives on the African continent, in accordance with the G20 Compact with Africa 2.0.
ATIDI CEO Manuel Moses spoke at the signing ceremony, describing the investment as a significant endorsement of the institution’s role and resilience. “This milestone is iconic in many ways,” Moses said, pointing out that the partnership expands opportunities for German investors in Africa, acknowledges ATIDI’s status as a leading development insurer, and emphasises the importance of international collaboration in a volatile global environment. He promised that ATIDI would work hard to ensure the success of the new partnership.
Christiane Laibach, a member of KfW’s Executive Board, emphasised the strategic significance of the subscription. “We confirm our long-standing strategic partnership with ATIDI,” she said. The shareholding is a continuation of cooperation designed to expand business opportunities for European and German investors in African markets. Laibach stated that KfW’s membership is carried out on behalf of the Federal Republic of Germany and builds on previous collaborations that aided the accession of several African states to ATIDI as well as the development of innovative insurance solutions aimed at attracting foreign investment.
KfW’s direct equity participation strengthens the already strong relationship between the two organisations. KfW has previously provided over USD 100 million in financing on behalf of the BMZ to support the membership of multiple countries in ATIDI. These contributions have strengthened ATIDI’s capital base and improved its ability to mitigate political and credit risk, resulting in increased private investment across a number of African markets. The new USD 32 million equity injection gives Germany a formal voice in ATIDI’s shareholder framework and is expected to increase the organisation’s ability to underwrite transactions and expand risk-bearing capability.
KfW, founded in 1948, is a key implementing partner of the BMZ and a major player in international development financing. The bank provides financing and advisory support for projects in sustainability, infrastructure, renewable energy, and small business development, all of which align with ATIDI’s mission of unlocking investment in Africa’s transformational sectors. KfW’s investment in ATIDI is expected to generate up to USD 500 million in trade and investment flows between German companies and African markets, demonstrating the potential multiplier effect of combining development finance and risk-mitigation instruments.
ATIDI, which has grown over the last 25 years to become one of Africa’s top development insurers, offers innovative credit and investment insurance products through partnerships with regional and multilateral organisations such as the African Union, World Bank Group, COMESA, the European Investment Bank, and NORAD. These products are intended to reduce investor entry barriers, protect projects from political and commercial risk, and mobilise private capital for long-term development.
Aside from the immediate capital injection, stakeholders described the arrangement as a strategic bridge that connects European financial expertise to Africa’s expanding investment landscape. The partnership aims to open up new investment opportunities in strategic sectors, strengthen trade corridors, and boost investor confidence by combining KfW’s global development finance expertise with ATIDI’s detailed regional risk intelligence and market presence. The collaboration aims to support long-term economic transformation across the continent by encouraging responsible private-sector participation and providing the insurance and financing structures required to scale up impactful projects.
With KfW as a formal shareholder, both organisations signal a renewed emphasis on raising capital, sharing technical expertise, and coordinating efforts to strengthen long-term and mutually beneficial economic ties between Germany (and Europe more broadly) and African economies.
