By MIKE OMUODO

African Trade & Investment Development Insurance (ATIDI) and African Solidarity Fund (ASF) have signed a framework cooperation agreement, paving the way for further strategic collaboration to promote economic development and mitigate the risks associated with investment and trade in Africa. 

The agreement signed on the sidelines of the Africa Investment Forum 2024 (AIF 2024) held in Rabat –Morocco last week, provides a framework for cooperation in support of infrastructure and economic development projects in member states belonging to both institutions (Benin, Burkina Faso, Burundi, Chad, Côte d'Ivoire, Mali, Niger, Rwanda, Senegal and Togo), and also helps mitigate risk for investors, corporates and lenders looking to invest in Africa.

Commenting on the deal, ASF Managing Director Mr. Abdourahmane Diallo said the marked an important milestone in promoting sustainable development in Africa.

“We are joining forces to drive investment and encourage economic growth across the continent, while ensuring a secure environment for investors,” Mr. Diallo said.

ATIDI CEO Manuel Moses, on his part noted that the partnership presented the Company with an opportunity to strengthen its range of practical financial solutions designed to meet Africa's economic challenges, including by mitigating the risks that often hinder trade & investment.

“It also reflects the need for multilateral institutions to work together to facilitate access to development financing for our continent. Together, we will help create a prosperous future for member states and African businesses," Mr. Manuel added. 

The main objectives of this partnership include marketing of both organizations' risk mitigation solutions for commercial and investment transactions; supporting the development of renewable energy sources and infrastructure within the framework of the African Continental Free Trade Area (ACFTA); and developing professional skills and improving the business environment in Africa.

The agreement represents a turning point for both institutions, which are committed to co-ordinating their efforts to boost intra-African trade, encourage investment in projects with strategic impact, and promote economic development across the continent.

The African Solidarity Fund (ASF) is a pan-African financial institution headquartered in Niamey, Niger. It became operational in September 1979, and its mandate is to contribute to the economic development and social progress of its African member states by facilitating, through its various methods of intervention, access to the financial resources required for investment projects and other income-generating activities. The ASF currently has twenty-three (29) Regional Member States in seven (7) of the eight (8) African Regional Economic Communities (RECs) (EAC, ECOWAS, ECCAS, CEN-SAD, COMESA, SADC and AMU). www.fondsolidariteafricain.org

ATIDI was founded in 2001 by African States to cover trade and investment risks of companies doing business in Africa. ATIDI predominantly provides Political Risk, Credit Insurance and, Surety Insurance. Since inception, ATIDI has supported USD85 billion worth of investments and cross border trade into Africa. For over a decade, ATIDI has maintained an ‘A/Stable’ rating for Financial Strength and Counterparty Credit by Standard & Poor’s, and in 2019, ATIDI obtained an A3/Stable rating from Moody’s, which has now been revised to A3/Positive. www.atidi.africa

Chief Justice Martha Koome has dismissed calls for her resignation, stating that she remains undeterred by critics.

Koome urged those attempting to defame her to reconsider their plan, as she has no intention of stepping down.

The CJ revealed that she has frequently been a victim of cyberbullying and expressed confusion over the motives behind such attacks.

Without naming her critics, Koome emphasized that their disparaging remarks and actions would not deter her from performing her duties.

“When I speak, I always confess that I’m a victim of cyberbullying—or is it called technologically facilitated gender-based violence? But I know the intention. It’s a business model; I don’t know to achieve what. Maybe to scare, distract, defame, or hound me out of office, but they can try something else,” Koome said.

The Chief Justice reaffirmed the Judiciary’s commitment to combating corruption in the country, despite the challenges posed by existential threats and underfunding.

She underscored that these challenges would not deter the Judiciary from executing its mandate.

This comes amid ongoing criticism of the Judiciary from various quarters, including prominent lawyers and human rights organizations, who have accused the institution of corruption.

Koome has been at the forefront of urging those with evidence of corruption within the Judiciary to come forward and present the necessary details to facilitate investigations and appropriate action. 

The Chief Justice also agreed on Tuesday to meet with Professor PLO Lumumba to discuss allegations of corruption within the Judiciary.

Stakeholder dialogue

Her decision followed a letter from Lumumba on December 5, requesting a meeting to address ways to restore the Judiciary’s integrity.

Lumumba had criticized the Judiciary over allegations made by lawyer Ahmednasir Abdullahi regarding judicial officers in Mombasa who were allegedly accepting bribes or other inducements in exchange for favorable rulings, a practice he referred to as “JurisPesa.”

In response, Koome confirmed that the meeting would include representatives from the Law Society of Kenya (LSK), the Senior Counsel Bar, members of the Judicial Service Commission (JSC), and court heads.

The meeting’s agenda will focus on creating a comprehensive and actionable roadmap to address corruption and misconduct within the Judiciary.

It will also ensure that complaints from the legal profession and the public include sufficient details for immediate action by the JSC.

Koome added that updates on complaints currently before the JSC would be provided, along with a discussion of mechanisms adopted by the Judiciary to combat corruption and enhance transparency and accountability.

“I have accepted and convened a consultative meeting to comprehensively discuss concerns regarding integrity within the Judiciary and the legal profession,” Koome stated.

Additionally, the Chief Justice has directed the Secretary of the JSC to deploy an investigative team to engage directly with Senior Counsel Ahmednasir Abdullahi over allegations of judicial bribery. 

Abdullahi’s claims have sparked intense public debate on the integrity of Kenya’s Judiciary.

However, Koome noted that the allegations lacked critical details, such as the identities of those allegedly involved. By Sharon Resian, Capital News