The Brazilian Export Credit Insurance Agency (Agência Brasileira Gestora de Fundos Garantidores e Garantias – ABGF) and the African Trade & Investment Development Insurance (ATIDI) signed, on Friday, May 23, a Memorandum of Understanding (MoU) to foster cooperation and promote foreign trade and investment between Brazil and African countries. ABGF is Brazil’s official export credit insurance agency, while ATIDI plays a similar role as a multilateral insurer for several African countries.
The MoU was signed by ABGF President Maíra Madrid and ATIDI CEO Manuel Moses.
The MoU establishes a trusted framework for future project-specific agreements that will facilitate the financing of cross-border transactions and initiatives between Brazil and African countries. By providing risk-mitigation solutions, the partnership will strengthen bilateral confidence and open new avenues for cooperation through insurance, co-insurance, parallel insurance, and reinsurance in the field of Export Credits.
“We are pleased to sign this agreement with ATIDI, an organization that has played a key role in enabling the development of its member countries. This partnership will enable the financing of business ventures by Brazilian companies seeking to expand their presence in Africa. Agreements like this help reduce portfolio risks, thereby increasing our capacity to support new operations,” emphasized Maíra.
The Brazilian official export credit agency, ABGF, is committed to strengthening international partnerships that open new opportunities for Brazilian companies. This agreement with ATIDI marks an important step toward deepening Brazil’s commercial relations with African countries and reflects a shared commitment to sustainable development, regional integration, and global trade cooperation.
“This is yet another milestone in ATIDI’s growth journey and further establishes our organization as a premier multilateral enabler of development finance in Africa. Beyond today’s signing ceremony, we will spare no effort, though this MoU, to offer our unique risk-mitigating solutions to Brazilian investors interested in engaging across the continent,” said Manuel Moses, ATIDI’s CEO.
ATIDI was founded in 2001 by seven Member States (Burundi, Kenya, Malawi, Rwanda, Tanzania, Uganda and Zambia) to provide risk mitigation to investors interested in engaging in Africa. Since then, it has grown to now count 24 member States and 13 institutions in its shareholding, representing countries from Africa, Europe, Asia and North America.
With the signing of this Memorandum of Understanding, ABGF and ATIDI reaffirm their commitment to advancing South–South cooperation and inclusive economic growth through enhanced collaboration and knowledge exchange.
About ABGF
ABGF is a state-owned company wholly owned by the Federal Government of the Federative Republic of Brazil acting on behalf of the Executive Secretariat of the Brazilian Foreign Trade Council as the official Brazilian export credit insurance agency, under mandate to carry out export credit insurance operations, including those backed by Brazilian official funds.
About ATIDI
ATIDI was founded in 2001 by African States to cover trade and investment risks of companies doing business in Africa. ATIDI predominantly provides Political Risk, Credit Insurance and, Surety Insurance. Since inception, ATIDI has supported USD88 billion worth of investments and cross border trade into Africa. For over a decade, ATIDI has maintained an ‘A/Stable’ rating for Financial Strength and Counterparty Credit by Standard & Poor’s, and in 2019, ATIDI obtained an A3/Stable rating from Moody’s, which has now been upgraded to A2/Positive.
