The African Trade Insurance (ATI), the continental investment risk mitigation institution, has launched its operations in Ghana pledging to help mitigate investment risks in the financing of Ghana’s public and private sector activities.
The institution seeks to help the country secure lower-cost financing at longer durations by providing a novel insurance scheme that effectively provides a novel guarantee for the government’s borrowing requests.
“The perception of political risk in sub-Saharan Africa as a whole has been quite negative for the post-independence period,” the acting chief executive officer (CEO) of ATI John Lentaigne told Xinhua after the launching.
He said although Ghana was one of the fastest-growing economies in the world, the perception about the Sub-Sahara Africa is that of high political risk, with a general B credit rating which ATI is out to mitigate.
“One of the key messages that we seek to put out is that Africa is not a single joint-country. Ghana is among the highest-growing economies, not just in Africa, but in the world, and growth is attractive to investors, “he added.
In his comments, Minister for Planning George Gyan-Baffuor said there were high investment prospects for Africa on the back of the ATI initiative, which will hopefully help Ghana reduce investment risks effectively. Enditem