Togo to soon adhere to creation of African Trade Insurance Agency

Finance
Thursday, 31 January 2019 17:23
Togo to soon adhere to creation of African Trade Insurance Agency

(Togo First) - Togo should soon sign the agreement regarding the creation of the African Trade Insurance Agency (ACA), an institution whose purpose is to support trade and investment in Africa.

Indeed, a bill was adopted on January 30 in this framework during the first Council of Ministers of the new Togolese government.

According the council’s statement, adhering to the agency’s creation will provide Togo “socio-economic advantages, especially in regards to poverty reduction”, through “a better partnership between African States, multilateral development institutions and the private sector”.

ACA is an African multilateral institution which aims at tackling the lack of insurance on political risks, commercial or not, and subsequently boost financing for investments in Africa and contribute to the growth of external trade, including intra-African trade.

Besides the recently adopted bill, the council of ministers have adopted five other decrees.

Ayi Renaud Dossavi

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