Hichilema calls for urgent action on risk profiling at 24th ATIDI AGM, as Chad, Burkina Faso, others join

President Hakainde Hichilema has called on African Ministers of Finance to urgently address the prevailing risk profiling that affects many African countries.

Speaking at the 24th Annual General Meeting of the African Trade and Investment Development Insurance (ATIDI) in Livingstone on Wednesday, Hichilema emphasized the need for reforming the global financial system to tackle the economic challenges faced by African nations.

Hichilema highlighted that African countries had not been treated fairly in the global arena, paying higher costs even in similar business sectors.

“It also helps grow economies and help mitigate perceived or real risks on economies among others,” he said.

The President expressed gratitude to the founding board members of ATIDI for their contributions to the organization, formerly known as the African Trade Insurance Agency (ATI).

He urged ATIDI shareholders to meet their obligations to ensure the organization functions as intended.

“The meeting offers an opportunity for investment in the mining and tourism sectors among others,” Hichilema noted.

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Hichilema reiterated ATIDI’s mission to support economies, enterprises and trade houses, and assured that Zambia remains committed to ATIDI’s vision of being a premier pan-African risk mitigation institution that aids Africa’s transformation into a prime destination for trade and investment.

Speaking at the same meeting, Chairperson of the ATIDI Board of Directors, Yohannes Birru, affirmed the institution’s commitment to advancing economic stability across the continent.

ATIDI Chief Executive Officer, Manuel Moses, revealed that the institution’s current investment portfolio in Zambia was worth about US$1.2 billion.

Moses also expressed gratitude to President Hichilema for his leadership as the first Chairperson of the ATIDI Board of Directors when it was known as the African Trade Insurance Agency (ATI).

During the meeting, Burkina Faso, Mali, Chad and Mauritania announced their decision to join ATIDI, marking a significant expansion of the organization’s membership.

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