The Banque d’Investissement et de Développement de la CEDEAO (BIDC) and the Assurance pour le Développement du Commerce et de l’Investissement en Afrique (ATIDI) recently joined forces to bolster support for the private sector in West Africa. This collaboration, formalized on May 29, 2025, on the sidelines of the 2025 Annual Meetings of the African Development Bank Group in Abidjan, Ivory Coast, aims to enhance economic activities by mitigating risks associated with private sector transactions in the region.
Dr. George Agyekum Donkor, President of BIDC, emphasized the significance of implementing strategies that create a favorable business environment to accelerate private sector financing for infrastructure development. He highlighted commendable international credit ratings of Member States such as Benin, Ivory Coast, and Cape Verde. In his address, he stated that
“credit insurance is a strategic tool to mitigate the impact of macroeconomic and political challenges in the region to attract funding under better conditions to support the development agenda of ECOWAS Member States.”
With a projected population exceeding 500 million by 2040 and urbanization driving new demands for digital infrastructure and energy solutions, there is mounting pressure to finance sustainable development initiatives crucial for our sub-region’s future.
Mr. Manuel Moses, Director General of ATIDI, expressed that
“This agreement marks a significant milestone on several fronts. Firstly, it represents a concrete step towards improving access to financing for the private sector, especially SMEs which form the backbone of Africa’s economy.”
He further emphasized their joint commitment to advancing regional integration as an essential pillar for Africa’s economic transformation.
Moses added that
“Strategic collaboration among key development finance players like BIDC and ATIDI is vital. By pooling their strengths together effectively, these institutions can achieve the necessary scale to make a desired impact on development efforts and facilitate transformative investments benefiting ECOWAS citizens.”
ATIDI was established in 2001 by African states to hedge risks linked to trade and investment activities within Africa. The organization primarily provides political risk insurance, credit insurance, and surety bonds. Over its existence, ATIDI has supported investments and cross-border trades worth $88 billion across Africa.
For over a decade now since its inception,
ATIDI has maintained an “A/Stable” financial strength rating from Standard & Poor’s.
In 2019,
Moody’s assigned an A3/Stable rating that has since been upgraded
to A2/Positive.
On another front,
the Banque d’Investissement et de Développement de la CEDEAO (BIDC) serves as
the Development Financing Institution for
the fifteen member states
of
the Economic Community of West African States (ECOWAS), including countries like Benin,
Burkina Faso,
and Nigeria.
Headquartered in Lomé,
Togo,
the bank focuses on funding projects spanning various sectors such as infrastructure,
basic social services,
rural development,
industry,
and social services through dedicated public
and private sector windows.
Its interventions take various forms ranging from long-term loans
to equity investments,
lines of credit provision,
engineering operations
to related financial services.
The collaborative efforts between BIDC and ATIDI underscore their shared goal: fostering economic growth across West Africa while ensuring sustainable development practices benefitting both present-day inhabitants & future generations alike!
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