The African Trade Insurance (ATI) announced it has achieved $9.9 million in net profit during the 2017 financial year which ended last December. It also reported that gross written premiums and equity rose respectively to $44.8 million and $242.2 million.


Speaking during a press conference, George Otieno (photo), ATI’s Chief Executive, pointed out that the institution considers higher support from member countries, by providing loans at affordable rates, in coming years.

According to him, Africa is currently seeking local solutions to face development challenges such as access to affordable finance. ATI is positioning itself as an indispensable option for African governments.

Let’s note that the institution (founded in 2001) plans to open new offices in Benin, Côte d’Ivoire, and Ethiopia by next year. Last year, it provided insurance coverage on a $159 million loan to Ethiopian Airlines to support fleet expansion.

 

Chamberline Moko – Ecofin

SOURCE: https://brandspurng.com/african-trade-insurance-reports-9-9m-net-profit-for-2017/

WELCOME development

Please how much will they transfer to my account? All this millions and dollars I keep reading of every day is beginning to hunt me in my dream o


Show me the money *in wizkid's voice*


This blogger Don pay him dues sha

Good
Me I'm not looking for too much just like $50m for sundry expenses

Decent profit for a company I am justvhearing of for the first time

SalamRushdie:
Decent profit for a company I am justvhearing of for the first time

How is the profit decent?

chloride6:


How is the profit decent?

9.9 million dollar profit after tax is decent profit in any clime.. it's equivalent to 3.6 billion Naira...i am sure if we shake your village and two surrounding villages we cannot get that amount out of them

Business men are the richest men https://www.nairaland.com/4550374/best-investment-opportunity-high-returns

SalamRushdie:


9.9 million dollar profit after tax is decent profit in any clime.. it's equivalent to 3.6 billion Naira...i am sure if we shake your village and two surrounding villages we cannot get that amount out of them

savage

SalamRushdie:


9.9 million dollar profit after tax is decent profit in any clime.. it's equivalent to 3.6 billion Naira...i am sure if we shake your village and two surrounding villages we cannot get that amount out of them

Profits are decent relative to existing levels of equity.

SalamRushdie:


9.9 million dollar profit after tax is decent profit in any clime.. it's equivalent to 3.6 billion Naira...i am sure if we shake your village and two surrounding villages we cannot get that amount out of them

Not really. A 4.1% ROE although based on closing book value is not too decent. It's like you getting $4.10 for every $100 you invest.

Compare that to long term inflation rate and risk free rate on US government bonds and depending on your goals, you may not be too satisfied considering the riskiness of the enterprise.

chloride6:


Profits are decent relative to existing levels of equity.

Yes Sir

I still don't understand how these people make their money in this economy meltdown.

Nice one