ATIDI Announces Election of New Board Leadership

·       At its recently concluded Board Meeting, Professor Kelly Mua Kingsley was elected as the new Chair of the Board and Ms. Christina Westholm- Schröder was elected as the new Vice Chair of the Board.

·       ATIDI was recently upgraded by Moody’s from A3/Positive to A2/Stable – while S&P affirmed its A/Stable rating, reflecting the organization’s strong financial management and strategic direction.

Nairobi, 14 October 2024 — At its 101^st meeting held on 5 October 2024, the Board of Directors of African Trade & Investment Development Insurance – ATIDI (commonly known as the African Trade Insurance Agency), announced the election of Professor Kelly Mua Kingsly as the new Chair of the Board. He is deputized by Ms. Christina Westholm- Schröder.

The election of the new Board leadership follows the appointment of new Board Members by ATIDI’s Annual General Meeting in line with ATIDI’s continued commitment to strong corporate governance. 

The new Board, which includes ATIDI’s first Independent Director, will play a critical role in steering the organization’s strategic direction and governance, further enhancing the organization’s efforts to foster sustainable growth across the continent.

Professor Kelly is the Director of Finance Operations at the Ministry of Finance’s Directorate General of Treasury in Cameroon. In this capacity, he has been instrumental in designing and implementing strategies for monitoring public revenue and expenditure, preparing comprehensive financial reviews and spearheading public finance reforms.

In addition to his role at the Ministry of Finance, Professor Kelly serves as the Censor at the Central Bank of Central African States (BEAC) and represents Cameroon at the Regional Advisory Commission on Financial Markets (COSUMAF). His recent appointment as Cameroon’s designated representative with the United Nations Development Program and the European Investment Bank for GEF projects underscores his commitment to managing climate finance and enhancing regional debt resilience.

Accepting his appointment, Prof. Kelly said hisvision is to support best corporate governance practices within ATIDI and drive economic growth that benefits the continent by working closely with ATIDI’s leadership.

• Breaking News: UDF Withdraws from Joint Press Briefing with DPP, AFORD, and UTM
  By Burnett Munthali In a sudden development, the United Democratic Front (UDF) has pulled out of a scheduled joint press briefing that was set to take place today in Lilongwe. The briefing, which was to include other major political parties such as the Democratic Progressive Party (DPP), Alliance for Democracy (AFORD), and United Transformation Movement…
• Lawyer Alexius Kamangila Questions Judicial Accountability and Independence on Facebook
  By Burnett Munthali Prominent lawyer Alexius Kamangila has taken to his Facebook page to raise concerns over the lack of progress on the Judicial Service Commission Bill in Malawi. In his post, Kamangila highlighted the Ministry of Justice’s reluctance to introduce the bill to Parliament, despite it being under discussion since 2013. He noted that…
• The High Court Refers Cassim Chilumpha’s Treason Case to the Constitutional Court
  By Burnett Munthali In a significant development in the long-standing legal saga surrounding former Vice President Cassim Chilumpha, the High Court in Blantyre has referred his case to the Constitutional Court. This decision comes as Chilumpha and former politician Yusuf Matumula face treason charges dating back to 2006, stemming from allegations of a plot to…
• European Union Resumes Budget Support to Malawi After Over a Decade
  By Burnett Munthali In a significant development for Malawi’s financial landscape, the European Union (EU) has officially resumed budget support to the country after more than ten years. The announcement was made on Wednesday, marking a crucial step towards strengthening Malawi’s public services, particularly in the education sector. The total value of the support amounts…
• James Chimwaza and Lucy Ganiza Crowned Champions at the Minet Malawi Senior Golfers Tournament
  By Burnett Munthali The Minet Malawi Senior Golfers Tournament, held on Tuesday at the Limbe Country Club, concluded with thrilling performances as James Chimwaza and Lucy Ganiza emerged as the champions of their respective categories. This annual event, which attracted 38 seasoned golfers, highlighted the impressive skills and sportsmanship of Malawi’s senior golfing community. Chimwaza…
• 95 Youths Set to Work in Israel Next Month, Says Moses Kunkuyu
  By Burnett Munthali In a significant development, Moses Kunkuyu, the Minister of Youth and Sports, announced that 95 youths from Malawi are expected to embark on employment opportunities in Israel next month. This announcement was made during a recent interview on Times Radio’s “Kulinji” program, where Kunkuyu outlined the progress of the initiative. Kunkuyu explained…
• It said the FA board approved the decision last week and Tuchel signed a contract on 8 October.
  Under Carsley, England lost to Greece on 10 October and beat Finland on 13 October. “The announcement was delayed to minimise distraction around the international camp that has just concluded,” an FA statement read. English coach Anthony Barry, who worked with Tuchel at Chelsea and Bayern, will be his assistant. Tuchel won the German Cup…

“I aim to expand ATIDI’s outreach and visibility across Africa. I encourage all the Central African Economic and Monetary Community (CEMAC) countries to consider applying for membership in ATIDI, as this will further strengthen regional cooperation and open new avenues for economic collaboration,” prof. Kelly said.

Prof. Kelly’s election as the first Cameroonian Board Chair has a significant impact on fostering relationships and networks within the CEMAC and the broader West African region. His role is set to facilitate collaboration among member states, enhance trade relations and promote regional integration. For more information on the membership process, visit  

Prof. Kelly succeeds Dr. Yohannes Ayalew Birru who has diligently served for two consecutive terms of three years. He was deputised by Ms. Hope Murera, the Managing Director of Zep-Re. During their leadership, ATIDI’s member states increased from 14 to 24 (current member states include Kenya, Cameroon, Nigeria, Ethiopia, Ghana, Malawi, South Sudan, Tanzania, Zimbabwe, Uganda, Zambia, Rwanda, Burundi, Côte d’Ivoire, Benin, Mali, Democratic Republic of Congo, Chad, Senegal, Togo, Madagascar, Niger, Burkina Faso, and Angola).  Similarly, gross exposure increased from USD 4.8 million to USD9.6 billion, profits from USD12 million to USD69.1 million and assets from USD419 million to USD837 million.

“I take this opportunity to express my deep appreciation to the outgoing Board Chairman and his team for their outstanding leadership in bringing ATIDI to such a level of performance,” prof. Kelly said.

The new Vice Chairperson, Ms. Westholm-Schröder is Sovereign’s Chief Underwriter and Senior Vice President, with more than 35 years of experience in the political risk insurance industry. She is responsible for all aspects of Sovereign’s transactional underwriting and also leads Sovereign’s successful cooperation with multilaterals and export credit agencies.

Welcoming the new Board of Directors, ATIDI CEO Manuel Moses the new board’svision and leadership would be instrumental in guiding ATIDI’s future.

“With the Board’s diverse expertise, we expect that we will drive impactful initiatives that foster sustainable trade and investment across Africa. This new leadership team will further enhance our outreach efforts and engage our stakeholders more effectively, creating a stronger and more connected community. Together, we are poised to make a significant difference in the economic landscape of the continent,” Mr. Manuel said. 

Rating upgrade

ATIDI was recently upgraded by Moody’s from A3/Positive to A2/Stable – while S&P affirmed its A/Stable rating, reflecting the organization’s strong financial management and strategic direction. This positive assessment positions ATIDI well as it implements its 2024-2027 strategy, which aims to expand its footprint and strengthen its impact across the region. The Board’s support will be crucial in navigating this ambitious strategy, ensuring that ATIDI leverages its strengths and address challenges effectively. Their insights and networks will be vital ATIDI seeks to build new partnerships and enhance its investment initiatives