CEO Today Africa Awards

KENYA www.ceotodaymagazine.com 26 CEO Today Africa Awards 2018 GEORGE OTIENO CEO of African Trade Insurance Agency How has The African Trade Insurance Agency (ATI) grown in the last 5 years? In what ways did you lead this growth? We have a notable number of successes that have contributed to creating a more vibrant investment and trade environment in Africa. These include: a) Facilitated $35 billion worth of investments and trade in Africa since inception b) Maintained an ‘A/Stable’ rating from S&P for the last 10 years, which ranks ATI as one of the highest rated institutions in Africa c) A 50% increase in membership in the last five years, attracting countries such as Côte d’Ivoire and Ethiopia and Ghana and Nigeria on the verge of becoming shareholders d) Achieved profitability for the past six consecutive years and grown Premium from $3 million to $45 million in seven years and payment of dividends for the first time in 2017 e) Introduced two innovative energy sector solutions: the $74 million Regional Liquidity Support Facility (RLSF) in partnership with KfW and the European Investment Bank and the African Energy Guarantee Facility (AEGF), which is expected to unlock $1.4 billion worth of clean energy projects across Africa I attribute these achievements to exemplary teamwork, innovation, and the dedication of staff in working towards a single objective of excellence. This is reflected in our now low staff turnover - only five people have left the organisation in the last five years. How can political risk be identified and then mitigated for investors? Political risks are not unique to Africa. In fact, Africa ranks as one of the regions with the smallest penetration rate for political risk insurance. The first step for investors is to understand that ATI exists as a viable option to mitigate their risks in Africa. The risks faced by investors could range from the potential of a government confiscating or George Otieno has been in the insurance industry for the past 40 years, largely working for multilateral organisations, which has given him a global perspective on the industry. When he becameCEO in 2010, he had amandate to create stability, increasemembership and profitability, and to deepen ATI’s support of trade in African member countries. Founded in 2001, ATI underwrites investment and trade risks, which in combination with an ‘A/Stable’ rating from S&P, ensures that the continent is able to attract more investments. ATI is majority-owned by African Governments and other shareholders including the African Development Bank, COMESA, ECGC (India), SACE (Italy) and UKEF (The UK). Q Q