26 May 2014

Tanzania to Host Major Insurance Meeting

TANZANIA will host the African Trade Insurance Agency (ATI) Annual General Meeting (AGM) in Dar es Salaam on Wednesday and the Vice President, Dr Mohamed Gharib Bilal, is expected to be the chief guest.

According to the Tanzania Insurance Regulatory Authority (TIRA), the meeting will involve participants from 20 countries drawn from within and outside the continent.

Countries expected to attend the meeting include Kenya, Uganda, Rwanda, Burundi, Zambia, Benin, Ghana, Cameroon, Mozambique, Malawi, Madagascar, Democratic Republic of Congo, US, Italy, Ireland and the host Tanzania.

ATI is a multilateral financial institution providing export credit insurance, political risk insurance, investment insurance and other products to help reduce the business risks and costs of doing business in Africa.

ATI was launched in 2001 with the financial and technical support of the World Bank and some African countries. In less than a decade, it has supported over $2.5 billion worth of trade and investments across the continent, secured an investment grade rating of 'A' from Standard & Poor's, and expanded membership to more than a dozen African countries.

ATI is currently able to conduct business in 10 African countries, which are Benin, Burundi, Democratic Republic of Congo (DRC), Kenya, Madagascar, Rwanda, Tanzania, Uganda and Zambia.

According to the programme, the AGM to be held at the Hyatt Regency Kilimanjaro Hotel will be preceded by the meeting of ATI Board of Directors today and a press conference on Tuesday.

The AGM will have the theme, "Help Energy and Infrastructural Sectors." The Minister for Finance, Ms Saada Mkuya Salum, is expected to deliver a speech as the Chair of the AGM.

ATI Chief Executive Officer, Mr George Otieno, will also be on hand to deliver a speech, followed by the Chairman of the Board of Directors, Mr Israel Kamuzora, who will also say a few words.

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