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In a highly anticipated announcement, the African Trade Insurance Agency (ATI) said its General Meeting had approved the first payments to shareholders who will receive $ 2.5 million.
ATI said this at its Annual General Meeting (AGM) meeting held in Abidjan, where the company also announced its record financial results for 2017 for the sixth year in a row.
The company's CEO, George Otieno noted, "We have been planning for this moment for several years and I am pleased to finally announce that we are ready to give back something to our shareholders." This indicates our intention to continue to show value to our governments and shareholders, while encouraging non-member countries and institutional investors to join in. "
In 2017, ATI recorded gross exposures of $ 2.4 billion In the same period, the company has covered investment and trading activities across the continent valued at $ 10 billion. ATI also posted a profit of $ 10 million representing a 55% increase over 2016.
ATI owes its good results in part to the growing demand from investors and African governments for its products as the continent continues to position itself as an attractive destination for investors. Africa's desire to increase trade within its borders also contributes to the success of ACA.
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