Deputy President Kithure Kindiki has challenged African governments to prioritize long-term economic planning and policy stability, warning that frequent changes in regulations and investment frameworks continue to undermine investor confidence and deny the continent the large-scale investments needed to accelerate development.
Speaking on Wednesday while opening the 26th Annual General Meeting of the African Trade and Investment Development Insurance (ATIDI) in Nairobi, Kindiki said African countries must create predictable and reliable economic environments that give investors confidence to commit resources for the long term.
He noted that policy disruptions remain one of the major obstacles to attracting capital into African economies, saying governments must focus on ensuring continuity in investment and economic strategies.
“We must create conducive environments for investments and believe in our continent. We must ensure long-term stability and policy continuity because in the past we have witnessed frequent disruption in policies and investments,” DP noted.
The Deputy President reaffirmed Kenya’s support for ATIDI, describing the institution as a key partner in efforts to strengthen the investment environment and support socio-economic transformation across Africa.
“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,” Prof. Kindiki stated.
Kindiki recalled that 25 years ago, Kenya and other COMESA member states came together to establish the African Trade and Investment Development Insurance, then known as the African Trade Insurance Agency, with the aim of protecting investments and helping unlock Africa’s economic potential.
The Nairobi meeting also marked the institution’s Silver Jubilee celebrations.
Over the past 25 years, ATIDI has facilitated billions of dollars in trade and investment across Africa by helping governments and businesses manage political, commercial and sovereign risks.
According to the Deputy President, the institution has grown into one of Africa’s most respected multilateral financial organizations through its provision of innovative risk protection solutions that enhance investor confidence, support trade and promote sustainable development.
“ATIDI has evolved into one of the continent's most credible multilateral financial institutions, providing innovative risk mitigation solutions that strengthen investor confidence, facilitate trade and catalyse sustainable development,” DP said.
In Kenya, ATIDI has supported investments worth more than $7 billion across sectors including energy, transport, manufacturing, financial services, agriculture and infrastructure.
Among the major projects that have benefited from its support are the Lake Turkana Wind Power Project, Kipeto Wind Power Project and the Menengai Geothermal Development project.
Kindiki further urged African countries to look beyond immediate challenges and focus on building lasting institutions capable of driving economic transformation and creating opportunities for future generations.
He stressed the importance of ensuring that economic growth benefits all groups in society, particularly young people and women.
“As we look into the future we must carry the people of Africa. We must be deliberately inclusive, carrying along the young, women and all the people of our continent as we look for solutions to transform the critical sectors of our economies. We must believe in ourselves before we ask anyone else to believe in us,” he emphasized.
The Deputy President also highlighted Kenya’s efforts to establish long-term financial instruments, including the National Infrastructure Fund, which is intended to mobilize resources for the country’s economic transformation agenda.