Home | News    Thursday 17 May 2012

South Sudan joins membership of African Trade Insurance

separation
increase
decrease
separation
separation

May 16, 2012 (NAIROBI) – South Sudan, has joined the membership of the African Trade Insurance (ATI) agency which insures investment and political risks in the continent.

JPEG - 84.1 kb
South Sudan delegation at the ATI conference in Nairobi (ST)

Established in 2001 the billion-dollar multilateral financial institution provides export credit insurance, political risk insurance, investment insurance and other financial products to help reduce the business risks and costs of doing business in Africa.

ATI has membership of more than ten African countries including Kenya, which chairs it as well as international and regional financial institutions such as the World Bank, the African Development Bank and major companies in the private sector.

In 2011 alone, ATI was able to facilitate a 188 percent increase in trade and investment into Africa valued at over US$3.5 billion dollars, according to its annual report, with Kenya and Tanzania for instance, each received over US$1 billion dollars worth of trade and investment in vital projects such as energy, roads and water sectors.

In its 12th General Meeting on Wednesday in the Kenyan capital, Nairobi, ATI passed a resolution unanimously accepting the membership of South Sudan, in response to the application submitted to the institution in February this year.

The body provides sovereign guarantees to investors and removes the fear of business risks. In cases of political risks, it protects exporters, importers and investors from risks such as expropriation of investment, license revocation, forced abandonment, currency restriction, embargo or losses resulting from war or civil disturbance.

It also provides insurance protection against credit risks, political violence, terrorism and sabotage.

In his statement during the opening of the general meeting in Nairobi on Wednesday, the vice president of South Sudan, Riek Machar, stressed the importance of the organisation in the effort to attract investors in Africa.

He explained that his country has huge potential for investment in the areas of agriculture, minerals, oil, wildlife and housing among others and commended ATI for accepting South Sudan into the organisation.

Machar was welcomed to the meeting by the vice president of Kenya, Kalonzo Musyoka, accompanied by the minister of commerce, industry and investment, Garang Diing and the deputy minister of finance and economic planning, Marial Awou.

The conference was attended by relevant ministers from all the member countries in Africa. During the meeting the Ethiopian government’s representative who sat as an observer expressed his country’s interest in applying for membership.

(ST)

Comments on the Sudan Tribune website must abide by the following rules. Contravention of these rules will lead to the user losing their Sudan Tribune account with immediate effect.

- No inciting violence
- No inappropriate or offensive language
- No racism, tribalism or sectarianism
- No inappropriate or derogatory remarks
- No deviation from the topic of the article
- No advertising, spamming or links
- No incomprehensible comments

Due to the unprecedented amount of racist and offensive language on the site, Sudan Tribune tries to vet all comments on the site.

There is now also a limit of 400 words per comment. If you want to express yourself in more detail than this allows, please e-mail your comment as an article to comment@sudantribune.com

Kind regards,

The Sudan Tribune editorial team.
  • 17 May 2012 07:46, by Kurnyel

    African Countries should not allow South Sudan to be part of insurance beacuse they didn’t have economy to be insured otherwise you are going to loss.

    repondre message

  • 17 May 2012 07:48, by zulu

    This good news for South Sudan. Continue to do business with East Africa as the market is clearly favoring us. Over 200 ml people arround South Sudan will bring so much money 5 yrs from now. It could double in 7. Open your eyes folks. start anything from now and in 5 to7 yrs, he will be richer in dollars. Already seen how entepreneurs in south sudan are holding Mooonnney

    repondre message

  • 17 May 2012 17:42, by Beneben Bai

    Kurnyel is just wad al nyel. he is an emty tin. he should feel shame if he knows how shameful he writes here

    repondre message

  • 17 May 2012 22:50, by Northern Sudanese

    You insects better shut up and do not comment on a sudanese website. my brother Kurnyel can say what he wants on his countries website! you insects go make your own website called ’insect-land tribune’!!!!!!!!!!!!

    repondre message

Comment on this article


 
 

The following ads are provided by Google. SudanTribune has no authority on it.


Sudan Tribune

Promote your Page too

Latest Comments & Analysis


Uganda’s military intervention in South Sudan under international law 2014-04-19 09:37:28 Is there foreign policy principle justifying Uganda’s military intervention in South Sudan civil war and under whose authority could the exercise be carried out? By Kuajien Lual Wechtuor April (...)

Al-Bashir’s decree fell short of Sudan’s demands 2014-04-17 09:57:38 By Mahmoud A. Suleiman Ampril 16, 2014 - This article comes against the backdrop of the Decree number 158 of 2014 passed by the National Congress Party (NCP) president Marshal Omer Hassan Ahmed (...)

Why hiring a lawyer if you can buy a judge 2014-04-17 09:11:43 By Dong Samuel Luak April 16, 2014 - Many people in South Sudan are asking, how long did it take President Salva Kiir to plan all this tragedy befalling our young country now? Recruitment, (...)


MORE




VIDEOS



Latest Press Releases


UNICEF supports emergency response for children in Sudan with 89 tons of life-saving supplies 2014-04-19 09:47:06 Khartoum, 18 April 2014 --- Today in Khartoum airport, UNICEF received 89 tons of life-saving supplies to support the humanitarian response to children affected by emergencies in various hot (...)

Letter to the South Sudanese government on the ratification of the African Charter 2014-04-16 06:24:18 Letter to the Government of South Sudan on the ratification of the African Charter H.E. Salva Kiir Mayardit President of the Republic of South Sudan Juba, South Sudan CC: Dr. Barnaba Benjamin (...)

In Sudan, at least 26,000 primary school children risk repeating an entire school year 2014-03-21 08:42:00 UNICEF SUDAN PRESS RELEASE In Sudan, at least 26,000 primary school children risk repeating an entire school year Khartoum, 20 March 2014 --- Primary school-aged children in Sudan are in (...)


MORE

Copyright © 2003-2014 SudanTribune - All rights reserved.