Investments worth about $7.8 billion backed by the African Trade and Investment Development Insurance (ATIDI) have supported major infrastructure and development projects in Tanzania, the government said, as it seeks to deepen cooperation with the regional insurer to attract more private capital.
Finance Minister, Amb. Khamis Mussa Omar said the partnership with ATIDI has helped reduce investment risks and unlock financing for strategic projects, including part of the Standard Gauge Railway (SGR), as well as investments in energy, transport and other sectors.
Speaking in Dar es Salaam during an ATIDI workshop on strengthening Tanzania’s business and investment climate, Amb. Omar said the government intends to further expand the partnership to improve the investment environment and mobilise funding for large development initiatives.
“Tanzania is proud to be not only a member but also one of the founding members of ATIDI, an institution created to provide African solutions to African challenges,” Omar said.
He said Africa continues to face negative perceptions about credit and investment risks despite its vast economic opportunities, a challenge that prompted the creation of the regional insurance institution.
According to Omar, ATIDI’s insurance and guarantee services have played a key role in boosting investor confidence and facilitating financing for projects in infrastructure, industry and energy.
He said Tanzania’s cooperation with ATIDI aligns with the country’s Development Vision 2050, which aims to transform the economic structure through industrialisation, infrastructure expansion and private sector-led investment.
The vision targets a tenfold increase in Tanzania’s gross domestic product and seeks to elevate the country to high-income status despite a rapidly growing population.
“To achieve this ambition, stronger coordination within the financial sector will be needed, including institutions that help reduce investment risk such as ATIDI,” Omar said.
He added that the government is committed to improving the business environment and implementing tax policies that support economic growth and investment.
“Africa is rising. It is time to seize opportunities not only within our borders but across the region and the entire continent,” he said.
ATIDI Chief Executive Officer Manuel Moses said the organisation would continue working closely with Tanzania to strengthen the investment climate and attract more capital into the country.
“Africa has many trade and investment opportunities, but one of the key challenges has been the lack of strong mechanisms to reduce the risks faced by investors,” Moses said.
He said since its establishment in 2001, ATIDI has grown into Africa’s largest provider of trade and investment insurance, supporting cross-border trade and investments worth more than $93 billion across the continent.
In Tanzania, ATIDI has supported strategic projects including airports, railways, roads, bridges, telecommunications infrastructure, affordable housing and several energy projects coordinated by the Tanzania Electric Supply Company (TANESCO) and the Rural Energy Agency (REA).
The organisation has also backed social development initiatives, including a $200 million National Grid Resilience Project and a $150 million environmental sanitation project implemented in several regions.
ATIDI, formerly known as the African Trade Insurance Agency (ATI), provides political risk insurance, trade credit guarantees and financial solutions aimed at reducing investment risks across Africa. Tanzania is among its founding members and continues to benefit from its support in financing key national development projects.
