Zimbabwe has benefited from insurance support worth over US$200 million since it became a full member of the African Trade Insurance in 2016.
Africa Trade Insurance agency (ATI) a regional multilateral institution that facilitates international and intra regional trade and investment on behalf of African member states through the use of insurance, reinsurance and co-insurance among other financial instruments was launched in Zimbabwe yesterday night.
Since the country joined the ATI agency last year, investment transactions valued at more than US$200 million have been guaranteed said the Minister of Finance and Economic Development, Dr Ignatius Chombo.
Minister of Industry and Commerce, Dr Mike Bimha said the milestone achievement of becoming a full member of the ATI will boost international trade and attract foreign direct investment for industrialisation and infrastructure development.
13 countries African countries are signatories to the trade insurance agency.
ATI offers unique products that include sovereign risk guarantee, political risk insurance and terrorism risk insurance among others.