The African Trade Insurance Agency has confirmed key senior-level positions that will play an important role in steering critical support to “member governments.”
During its recently concluded virtual 20th annual meeting, ATI’s shareholders ratified the appointment of Manuel Moses as the new Chief Executive Officer based on the board’s recommendation.
Moses is a Zimbabwean, who brings 15 years of experience from the IFC, where he most recently held the post of country manager of Kenya. He holds an MBA from the University of Leicester in the UK and a BSc in Civil Engineering from the University of Zimbabwe.
Moses will assume office on 1 November, 2020.
In the interim, the board of directors has placed ATI in “very capable hands” with Toavina Ramamonjiarisoa, the Chief Finance Officer taking the reins as acting CEO. Ramamonjiarisoa has been an integral part of ATI’s management team since she was appointed CFO in 2011, where, in this position, she has helped guide the institution towards its current eight-year record-setting growth rates along with ensuring maintenance of ATI’s investment-grade ratings from both Standard & Poor’s and Moody’s (A/Stable and A3/Stable respectively).
While Ramamonjiarisoa is acting CEO, Rodgers Siachitema has been approved as the acting CFO.
ATI’s business operations also received a boost with the appointment of Benjamin Mugisha as the substantive Chief Underwriting Officer.
Mugisha, who has been the acting CUO for one year brings considerable experience to the position. He joined ATI in 2010 and has served various functions including as ATI’s Uganda representative, where he was responsible for field offices in Burundi, Rwanda and Uganda, and, subsequently as senior underwriter, where he managed ATI’s day-to-day business and a portfolio of international financial partners.
The board also recognised the substantial contribution and 19 years of service to ATI by Cyprien Sakubu, the General Counsel and Corporate Secretary, who has recently retired from the institution.
The board has constituted a special committee to oversee the recruitment of a new general counsel and in the interim, Elizabeth Mutafungwa, the current Legal Expert, has been appointed acting General Counsel.
ATI is recognised by the International Monetary Fun, S&P, Moody’s, and others as a strategic development institution for Africa that is well-positioned to provide effective support to its member governments through the pandemic.
Specifically, with the support of ATI, governments are able to manage their growing debt levels by re-profiling their costlier and riskier debts and replacing them with longer-term, cheaper debts from international commercial lenders.
ATI is currently insuring one to two per cent of the GDP of its member countries and is expected to facilitate $2bn of additional investments to the continent in the next 12 to 24 months.
