By NIyi JACOBS
In a bold move to bolster economic activity and regional integration across West Africa, the ECOWAS Bank for Investment and Development (EBID) and African Trade & Investment Development Insurance (ATIDI) have signed a Memorandum of Understanding (MoU) to support private sector-led growth in the sub-region.
The agreement was formalized on the sidelines of the 2025 African Development Bank Group Annual Meetings in Abidjan, Côte d’Ivoire. The MoU outlines a strategic framework for cooperation between the two institutions, with a focus on de-risking private sector transactions to attract investors and mobilize more competitive financial resources.
Key areas of collaboration include supporting economic activity across vital sectors, promoting industrial expansion, enhancing infrastructure development, and facilitating the creation of regional value chains.
Speaking at the signing ceremony, Dr. George Agyekum Donkor, President and Chairman of EBID, highlighted the strong international credit ratings of several ECOWAS member states such as Benin, Côte d’Ivoire, and Cabo Verde. He emphasized that credit insurance would be central to creating a more favorable investment climate amid the region’s macroeconomic and political headwinds.
“Credit Insurance is a strategic tool to mitigate the impact of the macroeconomic and political challenges faced by the sub-region,” Donkor said. “With a population set to exceed 500 million by 2040, and urbanisation creating new demands for infrastructure, energy, and digital services, the urgency to finance sustainable development has never been greater.”
ATIDI CEO, Mr. Manuel Moses, described the MoU as a pivotal milestone for the region’s private sector, particularly for small and medium-sized enterprises (SMEs), which are considered the backbone of Africa’s economy.
“This MoU marks a significant milestone in several ways,” Moses noted. “It not only enhances access to finance for SMEs but also strengthens our joint efforts to promote regional integration and drive transformational investments for ECOWAS citizens.”
He added that strategic partnerships like this are critical for development finance institutions to achieve the scale and impact needed to transform African economies.
The EBID-ATIDI partnership is expected to be a game-changer in mobilizing resources and reducing investment risks, unlocking new economic opportunities across West Africa’s fast-growing markets.
