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The African Trade and Investment Development Insurance (ATIDI) Posts Resilient Results Despite Global Headwinds

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ATIDI

ATIDI is also growing its footprint by increasing the number of its member countries as well as its institutional shareholders

KIGALI, Rwanda, July 19, 2023/APO Group/ — 

The African Trade and Investment Development Insurance’s (ATIDI) (https://www.ATIDI.Africa/) 23rd Annual General Meetings (AGM) approve solid results in sluggish regional and global economic environment; at the AGM, ATIDI unveils new identity and shares its Corporate Strategy Plan for 2023-2027; next AGM is scheduled to take place in Zambia.

The African Trade and Investment Development Insurance (ATIDI), formerly known as the African Trade Insurance Agency – (ATI) closed its 23rd Annual General Meetings in Kigali, Rwanda. The AGM approved the organization’s results in 2022, marked by steady performance despite a volatile post Covid-19 economic environment, globally and across Africa.

The pan-African multilateral insurer also unveiled a new brand identity. The new name, African Trade & Investment Development Insurance (ATIDI) better encapsulates its full product offering including risk mitigation and financial intervention. The brand positioning is articulated under the new strapline: Re-thinking risk – Enabling finance, which captures ATIDI’s unique approach to issues of risk in Africa and its unparalleled and deep expertise of Africa.

As the organization transitions to the new brand, it remains financially sound as reflected in its 2022 financial results highlighted below:

  • ATIDI’s total insured exposures at the close of the year reached USD8 billion, representing a year-on-year growth of more than 20%.

We would like to commend our shareholders, clients, partners, and staff for helping ATIDI steer through the challenges of an unpredictable year

  • The organization also experienced strong growth in its total assets, investment income, as well as its equity capital which stood at USD553 million as at the end of 2022. These gains compensated a modest deterioration in certain areas.
  • The Net Written Premium grew by 5% and the Gross Premium declined by 7% in the fiscal year ending December 2022 at USD133.2 million compared to the previous year’s performance of USD143.5 million
  • Net profit of USD32.8 million, a slight decline of 6% owing to increase in net claims provisions due to business growth.
  • ATIDI has declared a dividend of USD8.2M in 2022. This is the 5th consecutive year of paying dividends and this reflects the Board and Management’s confidence

ATIDI has begun implementing its corporate strategic plan for the 2023 – 2027 period, which is geared at optimizing the organization’s performance to make it more Developmental, Transformational, Robust and Reliable (DTR2). ATIDI has taken key steps to achieve ambitious goals. The organization is improving its Board effectiveness and governance through a better adapted structure, and it is implementing the International Financial Reporting Standard 17 (IFRS17) to optimize its financial and risk reporting. It is also continuing the full automation of its operational processes, in line with international best practice and putting in place a new climate policy to complement its Environmental, Social and Governance (ESG) framework and help sustainably address the rising challenges of climate change.

ATIDI is also growing its footprint by increasing the number of its member countries as well as its institutional shareholders. In April 2023, the Republic of Angola became ATIDI’s 21st African – and first Lusophone – member state through a USD25 million capital injection. Before Angola joined as a member, ATIDI already engaged in the country and covered transactions with a gross exposure of USD418M, mainly in construction, energy & gas, trade & transport, water supply and wholesale & retail. More recently, in June 2023, Japan’s Export Credit Agency, Nippon Export and Investment Insurance (NEXI), also joined our shareholder pool, with a USD14.8 million capital injection. In the past, ATIDI has provided insurance policies to protect Japanese private sector transactions on the continent for a total valued at USD4.9 billion, and through NEXI’s membership, is opening perspectives for more Japanese investors seeking business opportunities and market access in Africa.

The next AGM is scheduled to take place in Zambia, in 2024.

Quote from Mr. Manuel Moses, Chief Executive Officer, ATIDI

We would like to commend our shareholders, clients, partners, and staff for helping ATIDI steer through the challenges of an unpredictable year. Our organization is geared to achieve the goals set in our 2023-2027stratgic plan, as we continue to thrive and innovate as Africa’s premier provider of trade and investment development insurance and an enabler of our continent’s economic emergence.

Distributed by APO Group on behalf of African Trade and Investment Development Insurance (ATIDI).

Business

SLB commissions new fluids systems plant in Pemba to support Mozambique’s offshore energy development

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Mozambique

New facility expands in-country drilling and completion fluids capability, advancing the next phase of SLB’s growth in Mozambique

PEMBA, Mozambique, October 9, 2026/APO Group/ –SLB (NYSE: SLB) (www.SLB.com) announced the opening of a new fluids systems plant in Pemba, Mozambique. The new facility strengthens in-country capacity to prepare, store and deliver drilling and completion fluids for offshore operations, reinforcing the infrastructure needed as Mozambique’s offshore activity grows and its role as a strategic energy hub for East Africa continues to expand.

The commissioning of the plant, also known as a liquid mud plant, coincides with SLB marking 70 years of operations in Mozambique. It reflects the company’s long-term commitment to investing in people, infrastructure and capability that support the country’s long-term offshore energy development plans.

 




  

With an initial storage capacity of 21,000 barrels, the liquid mud plant provides a scalable platform for future growth, supporting multiple customers and rising offshore activity while improving logistics and enhancing operational flexibility.

As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions

“As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions,” said Miguel Baptista, Central, East and Southern Africa, Managing Director, SLB. The new liquid mud plant strengthens local energy infrastructure, expands opportunities for local content development, and enhances our ability to support customers as they deliver some of Africa’s most significant offshore energy resources.”

The liquid mud plant project was delivered with strong local participation and that momentum is expected to continue into operations. During project delivery, more than 100 jobs were created in Pemba with nationals representing 80% of the workforce, reflecting a focus on building local capability.

The project was delivered with a strong focus on safety, operational integrity, and quality, achieving more than 67,000 hours worked without a recordable safety incident.

This key infrastructure strengthens SLB’s ability to support consistent service quality and enhance supply chain readiness for increasing offshore activity across Mozambique, supporting customers execute safely and efficiently while developing local skills and expertise.

Key Points:

  • SLB has commissioned a new fluids system plant in Pemba, expanding in-country drilling and completion fluids capability for offshore operations.
  • With an initial storage capacity of 21,000 barrels, the facility provides a scalable platform to support growing offshore activity in Mozambique.
  • The investment marks the next phase of SLB’s growth in Mozambique, strengthening local capability and supporting long-term offshore energy development.

Distributed by APO Group on behalf of SLB.

 

 




 

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South African Energy Storage Association (SAESA) welcomes 4,600 MW battery storage prioritisation and calls for integrated energy planning

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Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply

JOHANNESBURG, South Africa, October 9, 2026/APO Group/ –The South African Energy Storage Association (SAESA) (www.SAESA.org.za) welcomes the prioritisation of 4,600 MW of battery energy storage under the first Integrated Resource Plan (IRP) 2025 Section 34 determination.

 




  

The timing is significant. Recent Integrated Energy Plan (IEP) modelling and assumptions discussions highlighted a fundamental shift that South Africa’s energy planning now needs to capture: we cannot plan the future power system by counting megawatts of generation alone.

We must plan for when energy is available, where it is available, how it moves through a constrained grid and how it is stored and dispatched when the system needs it most.

The announcement reinforces that shift. Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply.

For SAESA, the message for the IEP is clear: storage, flexibility and system services must be modelled as integral components of South Africa’s future electricity architecture, with their contribution considered from the outset of generation planning.

“The IEP must plan the power system we are becoming, not simply model the power system we have inherited,” says SAESA.

The IEP must plan the power system we are becoming, not simply model the power system we have inherited

Partnership with C&I Energy + Storage Summit

SAESA is an association partner of the C&I Energy + Storage Summit, created by VUKA Group, taking place on 28–29 October 2026 at The Maslow Hotel, Sandton, Johannesburg.

The summit brings together commercial and industrial energy users, project developers, financiers, regulators and solution providers to explore practical approaches to energy security, procurement and storage deployment.

For businesses assessing how storage can support their operations, the event offers an opportunity to meet SAESA and engage with the wider energy community on the decisions shaping South Africa’s evolving electricity system.

Commercial and industrial energy decision-makers are invited to apply to attend as hosted buyers. Qualifying buyers receive complimentary summit access and curated opportunities to engage with industry partners.

 

Meet SAESA at C&I Energy + Storage Summit: Join the Hosted Buyer Programme

The Hosted Buyer Programme connects commercial and industrial energy decision-makers with solution providers shaping South Africa’s evolving private energy market.

Qualified energy buyers receive complimentary access to the summit and curated engagement with industry partners exploring energy procurement, storage deployment and project development.

Apply for the Hosted Buyer Programme (https://apo-opa.co/4ehLijJ)

Distributed by APO Group on behalf of VUKA Group.

 




 

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Afreximbank welcomes launch of Africa Credit Rating Agency as an important step in strengthening Africa’s financial architecture

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Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets

PORT LOUIS, Mauritius, October 8, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) welcomes today’s launch of the Africa Credit Rating Agency (AfCRA), an important milestone in strengthening Africa’s financial architecture and expanding the continent’s capacity to generate credible, independent analysis of African credit risk.

 




 
 

Credit ratings play an important role in determining access to capital, influencing investor perceptions and shaping the cost at which governments, institutions and businesses can finance development. It is therefore essential that assessments of African credit risk are independent, rigorous and evidence-based, while reflecting a complete understanding of the structures, institutions and economic realities being assessed.

The establishment of AfCRA adds an important African-led source of credit opinion to the market. Its value will not be measured by whether it produces more favourable ratings, but by the credibility of its analysis, the quality of its data and transparency of its methodology, and its ability to deepen understanding of African sovereigns, sub-sovereigns and corporate credit.

This is particularly important given that many African issuers remain unrated, while local-currency and sub-sovereign markets continue to have limited rating coverage. Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets.

AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans

Alongside fellow members of the Alliance of African Multilateral Financial Institutions (AAMFI), Afreximbank has consistently maintained that African Multilateral Financial Institutions should be assessed on the basis of their fundamentals, performance, legal frameworks, mandates and operating models. Ensuring that these institutional characteristics are properly understood is essential to achieving informed, balanced and credible assessments of African risk.

Commenting on the uniqueness of the African market, and need for AfCRA’s rating methodology to reflect this, Mr Denys Denya, Senior Executive Vice President, Afreximbank, said: “The rating methodology AfCRA develops must recognise the uniqueness of our environment and its institutional structures. The Agency must set its own standards and not follow those set elsewhere — it must build a unique identity that conforms to an ‘African best practice.”

Highlighting the need for the autonomy of the Africa Credit Rating agency as it takes off, Mr Denya added: “Most importantly, AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans. We must all use it, and in return expect a complete assessment of where we (Africa) stand: the strengths the market has ignored, and the weaknesses we still need to fix.”

AfCRA should therefore be seen as complementary to existing international and regional rating agencies, broadening the range of credible analysis available to investors and issuers while strengthening competition, transparency and analytical capacity within Africa’s credit markets.

As Africa seeks to mobilise the scale of capital required for industrialisation, trade, infrastructure and economic transformation, credible African institutions that improve information, strengthen market confidence and deepen the continent’s financial markets will become increasingly important.

Afreximbank congratulates the African Union, the African Peer Review Mechanism (APRM) and all those involved in bringing AfCRA from concept to launch, and looks forward to the contribution the Agency will make to deeper, more transparent and more efficient African capital markets.

Distributed by APO Group on behalf of Afreximbank.

 




 

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