“In a context marked by the resurgence of geopolitical tensions and the proliferation of high-risk maritime zones, maritime transport insurance is once again a central parameter of the global economy. The increase in premiums, and even the introduction of non-insurance clauses on certain strategic corridors, directly threatens the fluidity of international trade. For Africa, heavily dependent on imports of energy products, cereals, and fertilizers, these developments represent a major challenge to the stability of supply chains. In this interview, Moses Emmanuel, CEO of ATIDI (African Trade & Investment Development Insurance), deciphers the implications of these turbulences and outlines ways to strengthen the commercial resilience of the continent.”
“We are witnessing a significant increase in insurance premiums related to high-risk maritime zones. What could be the impact of this inflation of insurance costs on African supply chains, especially for strategic imports such as energy, cereals, or fertilizers?
While no African country is a direct importer of Iranian crude oil, disruptions affecting exporters in Asia and the Middle East, as well as the rise in global prices, will have a profound impact on African markets. Imports of refined oil products to the continent are at a standstill, creating volatility for many African economies that depend on them. The impacts will be multiple and varied, and governments across the continent will have to assess how long their reserves can meet local demand and how they can manage inevitable increases in import costs. A 2025 report from the ARDA (African Refiners and Distributors Association) highlights the continent’s dangerous dependence on imports of refined petroleum products. Although it is a significant producer of crude oil, about 70% of refined petroleum products consumed in Africa are imported, notably diesel and diesel fuel, which are mainly imported from Gulf countries, India, and Europe (Netherlands, Belgium, Spain, and Italy). Due to this dependence, any disruption to corridors and production sites in the Gulf region will quickly lead to shortages and increased import costs. This should weaken local currencies, strengthen the dollar, and increase external debt costs. These tensions come at a time of slight improvement for many African economies, where inflation was returning to more manageable levels after a period of fiscal tightening.”
“The emerging situation is similar to that imposed by the Covid-19 pandemic. It is essential to develop African value chains to minimize the vulnerability of economies to exogenous shocks. The Dangote refinery in Nigeria, for example, is an alternative for the supply of refined products, with minimal shipping risks. Many projects are underway to protect the continent’s supply in various key sectors, in case of international crises that often lead to shortages, cost increases, etc. The blockade of the Strait of Hormuz also creates an opportunity to develop intra-African value chains for many commodities, which will boost intra-regional trade.”
“ATIDI offers ideal insurance products for financiers, exporters, and entrepreneurs investing in projects that strengthen value chains and the continent’s resilience to international crises.”
“In your vision, the role of institutions like ATIDI is often described as that of a trust catalyst for investors. Can guarantee mechanisms also play a role in stabilizing commercial flows when private insurers become more cautious?
The ongoing international crises will inevitably impact the supply chains of many African countries. This market instability will push investments towards safe havens and curb appetite for investments in emerging markets. ATIDI’s counter-cyclical support allows for continued commercial exchanges and investments even during periods of slowdown or crisis. Thanks to our high rating, we cover some risks directly, but also manage to mobilize reinsurers and syndicate risk-taking. This is essential to continue to ensure projects even during periods of economic slowdown, which often coincide with a reduced appetite for risk. Our strong relationships with our member states and with our market allow us to support commercial exchanges even in times of crisis. In addition, the financial innovations and reforms we support the implementation of continue to support governments and private investors in a sustainable and prudent manner.”
“With the intensification of international tensions and the return of the risk of war in economic calculations, insurance becomes almost a tool of economic sovereignty. Is Africa sufficiently prepared to manage this type of systemic shock?
ATIDI covers risks in African markets that international insurers fail to cover. We are the leader in this field and have been created to fulfill this role. ATIDI provides insurance, co-insurance, and reinsurance that allow investors to engage more easily in Africa and reduce the continent’s dependence on international insurers.
Our interventions offer local insurance solutions, strengthen our autonomy, and facilitate investments that are the engine of African economic sovereignty. We are not in competition with local insurers. On the contrary, we support them by providing additional capacity for complex risk-taking. At least 51% of our capital must be held by African member states. In fact, we work primarily in Africa and for Africa. Our support for the Regional Customs Transit Guarantee Program (RCTG) illustrates this approach. The RCTG helps reduce costs and transit times for cross-border transport across Africa through a single guarantee, thus supporting economic integration on the continent.
By covering risks of non-payment by states, ATIDI strengthens investor confidence and offers alternative solutions to those of international insurers. This makes us one of the essential links in development financing.”
“The implementation of the AfCFTA relies on the fluidity of intra-African trade. In a world where maritime routes are becoming more uncertain, do you see an opportunity to strengthen African regional logistics corridors and insurance mechanisms?
Absolutely. The current volatility of maritime routes requires Africa to implement endogenous solutions and accelerate the development of logistics corridors on the continent while offering insurance mechanisms, two fundamental elements for the successful implementation of the AfCFTA. That being said, this urgency existed even before the current crisis.
The disruptions in maritime routes that we are currently experiencing highlight the risk faced by the continent due to its dependence on external supply chains. This should accelerate the establishment of African logistics infrastructure, which will reduce costs and strengthen the region’s autonomy. It is urgent to connect the continent’s main commercial hubs through roads, railways, or maritime routes. For example, infrastructure such as the Abidjan-Lagos corridor or the one connecting Mombasa and Kigali should be strengthened. It is also necessary to improve border transit by offering solutions such as a single guarantee valid across the continent or a single customs window, which will reduce transit times and, consequently, logistical costs. Finally, more investment is needed in ports, dry ports, warehouses, cold chains, etc., to improve the capacity to handle the increase in intra-African traffic.
Strengthening African insurance solutions to better cope with exogenous shocks is an urgency that existed well before the current crisis. More collaboration is needed in African insurance and reinsurance markets. This will allow for the syndication – and therefore increase – of coverage capacities, provide solutions tailored to local needs, and strengthen resilience to future crises.”
“Finally, in a scenario where several strategic maritime zones become difficult to insure, do you think Africa will have to rethink its overall commercial strategy – notably by strengthening regional integration, land infrastructure, and development insurance?
Beyond the current international tensions, Africa must boost its internal commercial flows and increase market access between African countries. This priority should not be linked to the current geopolitical context. It is fundamental for the sustainable economic emergence of the continent. Risk mitigation solutions like ours are essential to guarantee the continent’s development, in times of growth or crisis.”
