Kenya leads push to strengthen trade as Africa seeks to close $400B development financing gap
By Ndiritu Wanjiru, July 1, 2026Kenya has reaffirmed its commitment to strengthening Africa’s trade and investment ecosystem through enhanced regional cooperation and innovative financing mechanisms, as the country chaired the closed session of the 26th Annual General Meeting (AGM) of the African Trade and Investment Development Insurance (ATIDI).
In a statement on Wednesday, July 1, 2026, Principal Secretary for the National Treasury Dr Chris Kiptoo, who chaired the closed session on behalf of the Cabinet Secretary for the National Treasury and Chairperson of the General Meeting, John Mbadi, said the meeting focused on advancing reforms aimed at boosting ATIDI’s capacity to support trade and investment across the continent.
“We are enhancing ATIDI’s governance, expanding its membership, mobilising strategic partnerships, increasing its capital base and deepening regional collaboration to unlock greater trade and investment opportunities across the continent,” Kiptoo stated.
Kiptoo noted that Africa continues to face an estimated annual development financing gap of approximately USD 400 billion, underscoring the urgent need for innovative financing solutions to accelerate economic growth and sustainable development.
The PS said the recently endorsed New African Financial Architecture for Development (NAFAD), approved by the African Union in February 2026, provides a strategic framework for addressing the financing deficit by unlocking domestic savings, strengthening guarantee and shared-risk mechanisms, and deepening local capital markets.
According to Kiptoo, member states are working to strengthen ATIDI by enhancing its governance structures, expanding membership, mobilising strategic partnerships, increasing its capital base, and deepening regional collaboration to unlock greater trade and investment opportunities across Africa.
He said these measures are expected to improve investor confidence, reduce investment risks, and facilitate greater access to finance for both public and private sector projects across the continent.
Central African Republic joins ATIDI
During the AGM, member states also welcomed the Central African Republic as ATIDI’s newest member, a move that further expands the institution’s geographical reach and reinforces its role in promoting regional economic integration and collective development.
Kiptoo further said that the admission of the Central African Republic reflects growing confidence in ATIDI’s mandate and strengthens the institution’s ability to support member countries through risk mitigation solutions that attract investment and facilitate cross-border trade.
The AGM reaffirmed the commitment of African countries to work collectively in building stronger financial institutions capable of supporting the continent’s development agenda and accelerating economic transformation through increased trade, investment and regional cooperation.