By Silvia Nyambura
As Uganda readies herself for national elections slated for 2016, there is need for businesses and investors to improve on their risk profile to alleviate any fears. Specialized insurance products to cover political, investment and trade credit risks can go a long way in achieving this.
According to senior representatives of the African Trade Insurance Agency (ATI), these products cover situations in which companies may experience difficulty transferring their money or exchanging it into foreign currency. They also cater for instances when government agencies unfairly seize a company’s assets, companies that may have difficulty importing required equipment or goods due to trade embargoes and companies that experience delayed payments by government agencies or private buyers.
Addressing the media at Protea Hotel this morning, ATI’s Country Manager Frederick Mutua said, “We are not your typical insurer. We insure trade and investments which are fundamentals to the economy. In times of political violence, terrorism and sabotage, businesses can mitigate the situation by providing capacity for issuance of insurance and bonds.
