Kindiki: ATIDI has unlocked Sh904 billion in trade and investment for Kenya

Deputy President Kithure Kindiki has hailed the African Trade and Investment Development Insurance (ATIDI) for helping attract hundreds of billions of shillings into Kenya, saying the institution has become an important partner in financing projects that would otherwise struggle to secure investor confidence.

Speaking on Wednesday at the opening of ATIDI's 26th Annual General Meeting in Nairobi, Kindiki said the organisation's journey over the last 25 years demonstrates the value of strong African institutions in supporting economic growth, trade and investment across the continent.

The meeting also marked ATIDI's Silver Jubilee, a milestone that brought together stakeholders to reflect on the institution's achievements since it was established by COMESA member states.

"This gathering marks not only the 26th Annual General Meeting of ATIDI, but also the institution's Silver Jubilee. Kenya is honoured to host this milestone. Twenty-five years ago, together with fellow COMESA Member States, we supported the establishment of the then African Trade Insurance Agency because we believed Africa deserved an institution capable of reducing investment risk and unlocking the continent's immense economic potential," he highlighted.

Kindiki said the continent is increasingly seeking solutions from within as countries work to strengthen economic cooperation and reduce dependence on external support.

According to the Deputy President, institutions such as ATIDI have a critical role to play by providing the confidence needed for investors to commit capital to projects that support development and job creation.

"Africa stands at a defining moment in its development journey. We are progressively moving away from dependence on externally driven development models towards greater self-reliance, stronger regional integration and African-led financing solutions. Institutions such as ATIDI are central to this transformation because sustainable development requires confidence, confidence requires predictable institutions, and investment thrives where risk is effectively managed."

He noted that despite the opportunities presented by Agenda 2063 and the African Continental Free Trade Area (AfCFTA), the continent still faces a major shortage of development financing.

Kindiki said Africa's annual financing gap is estimated at about Sh51.7 trillion, making it necessary for governments and institutions to develop new financial tools capable of mobilising additional resources for growth.

He pointed to Kenya's experience, saying ATIDI has facilitated approximately Sh124.2 billion in trade and investment during the past two years. Overall, he said, investments and trade supported by the institution in Kenya have reached about Sh904 billion.

The Deputy President cited the Lake Turkana Wind Power Project, Kipeto Wind Power Project and Menengai Geothermal Development among projects that have benefited from the institution's backing.

"Flagship projects, including the Lake Turkana Wind Power Project, Kipeto Wind Power Project, and Menengai Geothermal Development, which together are designed to deliver clean and affordable electricity to approximately 500,000 Kenyan households, demonstrate how risk mitigation translates into transformative development outcomes," he stated.

He said the projects show how reducing investment risks can help deliver large-scale infrastructure while expanding access to affordable energy for citizens.

Kindiki also said Kenya's Bottom-Up Economic Transformation Agenda acknowledges that government funding alone cannot meet all development needs.

He noted that the government is implementing measures aimed at improving the investment climate through policy reforms, infrastructure development, support for businesses and stronger regional economic integration.

The Deputy President urged African nations to continue building institutions capable of mobilising investment and supporting economic transformation across the continent.

"The future belongs to a continent that believes in itself, invests in its institutions and creates an enabling environment for enterprise to flourish. ATIDI embodies these values and demonstrates that African institutions can deliver world-class solutions to African challenges," Kindiki explained before officially declaring the meeting open.