Promoting Investments : African Trade Insurance Agency Bill in Parliament

The bill to authorise the President of the Republic to proceed with Cameroon’s accession to the Agreement Establishing the African Trade Insurance Agency, signed on 18 May 2000 is under scrutiny in the National Assembly.
The Agency headquartered in Nairobi, Kenya, is a financial body offering many advantages and services, to both the public and private sectors. Government explains the advantages to include the coverage through sovereign guarantee for the funding of major projects, protection against political and financial risks, reduction of transaction costs and facilitation of obtaining funding.  The Agency operates through insurance, coinsurance and reinsurance mechanisms and has two specificities that are: attracting more investments for Member States, and contributing towards increasing the level of trade on the African continent. According to government in the explanatory statement to the bill, the Agency’s international rating enables  it to set softer loan terms based on coverage against non-payment for operations  under private and public reg...