The African Trade Insurance Agency (ATI) urged the Tanzanian government to reinforce their partnership. It said it was ready to facilitate the mobilization of $1.2 billion of investment in the local energy sector, for projects which will lead to the development of an additional 1,200 MW to the national grid. In return, the country must commit to promoting the various projects that it backs in the country.

“We are the silent but very important piece of the puzzle because we have stood behind close to US$1 billion (TZS 2 trillion) worth of investments and trade into Tanzania since our first transaction in 2004,” said ATI CEO, George Otieno.

Truly, loans to countries by international finance institutions are subordinated by a good insurance coverage which reduces risks and costs associated with the transactions.

Let’s recall that Tanzania is founding member of ATI which since 2003 has been offering its services to investors and to 12 countries across the continent.

Gwladys Johnson