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ATI mulls partnerships with Chinese firms to boost investments

Xinhua, May 4, 2017 Adjust font size:

Pan-African investment insurer African Trade Insurance Agency (ATI) is seeking closer ties with Chinese firms so as to increase investment flows into the continent, officials said on Thursday.

ATI Chief Underwriting Officer John Lentaigne told Xinhua that Africa is still perceived to be a risky investment destination despite its high rates of investment returns.

"So we want to partner with Chinese firms so they feel more confident in investing in Africa," Lentaigne said when ATI released its financial results for 2016.

"Already, we are seeing demand from Chinese companies that want to protect their investments," he noted.

Chinese investments into Africa have accelerated over the past decade to play an increasingly important role in the socio-economic development of the continent.

The ATI official noted that currently most Chinese firms depend on Chinese state insurers to mitigate their risks in Africa.

"We want to partner with Chinese firms so that we help them explore other alternatives to mitigate their risk," he said. Endit