RIYADH: Saudi Export-Import Bank (Saudi EXIM) has signed a reinsurance agreement with the African Trade and Investment Development Insurance (ATIDI) to expand export credit insurance coverage for Saudi exporters seeking to enter African markets.
The agreement was signed in Nairobi by Saudi EXIM Chief Executive Officer Eng. Saad bin Abdulaziz Alkhalb and ATIDI Chief Underwriting Officer Benjamin Mugisha, the Saudi Press Agency (SPA) reported on Tuesday.
The signing ceremony was attended by the Kingdom’s Ambassador to Kenya, Saad bin Abdullah Al-Nofaia.
نيروبي | 🇰🇪
بحضور سعادة سفير خادم الحرمين الشريفين لدى جمهورية كينيا، سعد بن عبدالله النفيعي، وقع معالي الرئيس التنفيذي لـ #بنك_التصدير_والاستيراد_السعودي، م. سعد بن عبدالعزيز الخلب، والرئيس التنفيذي للاكتتاب في مؤسسة التأمين الأفريقية لتنمية التجارة والاستثمار (ATIDI)، السيد… pic.twitter.com/18wZSyjRA2
— بنك التصدير والاستيراد السعودي (@SaudiEXIM) July 28, 2026
Saudi exporters to expand their presence across Africa
The partnership is aimed at strengthening cooperation between Saudi EXIM and international reinsurance and export credit institutions while enhancing the ability of Saudi exporters to expand their presence across Africa.
According to EXIM, the agreement would improve access to export credit insurance, facilitate international trade, and support the continued growth of the Kingdom’s non-oil exports. It also reflects Saudi Arabia’s efforts to deepen economic and trade cooperation with African countries.
Headquartered in Nairobi, ATIDI is a leading multilateral financial institution that provides trade and investment risk mitigation solutions across the African continent.
The bank said the agreement aligns with its strategy to broaden its global partnerships and support Saudi exporters in accessing new markets, in line with the objectives of Saudi Vision 2030 to diversify the economy and strengthen the Kingdom’s position in international trade.
Read Also: Saudi Arabia’s Ports Authority Signs Agreements Worth $267 Million
Earlier this month Saudi Arabia’s Ports Authority (Mawani) signed seven agreements worth nearly SR1 billion ($267 million) with local and international companies to establish and expand logistics centres at Jeddah Islamic Port and the Al-Khumra Logistics Zone.
The agreements are aimed at enhancing logistics infrastructure along the Kingdom’s western coast, improving supply chain efficiency and strengthening Saudi Arabia’s position as a global trade and logistics hub under the National Transport and Logistics Strategy and Vision 2030.
