ATIDI's Chief Executive Officer Manuel Moses
BusinessNews

ATIDI Insures Deutsche Bank’s €300m Loan to Tanzania

The Pan African multilateral insurer ATIDI says it has insured a 300 million euro loan facility issued by Deutsche Bank AG to the Government of Tanzania.

The Loan facility will finance 50 infrastructure projects – including power, road, water, health, and education – in Tanzania’s 2022/2023 budget.

Today, ATIDI announced that it has provided a seven-year comprehensive cover to Deutsche Bank, insuring the lender against non-payment by Tanzanian authorities on the loan facility.

Maryam Khosrowshahi, Chair of Global SSA at Deutsche Bank said the bank was proud to have been selected by Tanzania as their partner on this facility.

“The successful execution of both tranches within a relatively short timeframe since the start of the transaction is testimony to the Bank’s ability to structure and execute complex and innovative financings in Sub-Saharan Africa,” Ms. Khosrowshahi said.

Tanzania is one of the seven countries – alongside Burundi, Kenya, Malawi, Rwanda, Uganda, and Zambia – which founded ATIDI in 2001, to cover trade and investment risks of companies doing business in Africa.

Since then, the multilateral insurer has supported Tanzania in projects valued at over $3.5 billion in sectors including financial and insurance services, energy and gas, construction, and manufacturing.

“ATIDI is happy to support viable and impacting projects in Tanzania,” ATIDI CEO Manuel Moses said. “We are looking forward to discussing further transformational projects that will sustainably benefit Tanzania and its people.”

The multilateral insurer’s contract value in Tanzania stands at $3.5 billion and a pipeline of over $900 million is to be added in the short-term period.