ASHR’A, the Israel Foreign Trade Risks Insurance Corporation Ltd., yesterday signed a co-operation agreement with ATI, the African Trade Insurance Agency. With the full backing of the Israeli Government, the pact clears the way to increase exports from Israel to ATI’s African member countries and to increase Israel’s investments into Africa by minimising the political and commercial risks associated with doing business on the continent.
From left to right; Mr. Zvi Chalamish, CEO, ASHRÁ, Mr. Yaki Lopez, Deputy Ambassador, Israel Embassy, H.E. Gil Haskel, Ambassador, Israel Embassy, Mr. Jeff Vincent, Chief underwriting officer for ATI and Mr. George Otieno, CEO ATI
The partnership with ATI reflects the growing wave of engagement between Israel and Africa. It is expected to bring into the fold new countries – in the form of ATI’s member countries – that may benefit from access to new sources of high-quality imports as well as a relatively new market for African-made exports.
ASHRA is a company fully owned by the Israeli government. It was established in 1957 to encourage exports from Israel, to help minimize political and commercial risks, to raise export financing for the mid and long terms (from one year and up to 15 years) and to finance Israeli investments abroad. ASHRA’s policies are fully backed by a state guarantee.
At the end of 2010, ASHRA’s insurance portfolio included export transactions of more than $1 billion in various fields such as infrastructure, medical equipment, energy, communications, agriculture, security equipment, planning and engineering services.
ATI was founded in 2001 by African States to cover the trade and investment risks of companies doing business in Africa. ATI provides Political Risk, Surety Bonds, Trade Credit Insurance and Political Violence and Terrorism & Sabotage cover. As of 2013, ATI has supported over US$10 billion in trade and investments across Africa in sectors such as agribusiness, energy, exports, housing, infrastructure manufacturing, mining and telecommunications.