Economy & Politics

Senegal at the gates of the African Trade Insurance Agency (ACA)

According to reports, Senegal is preparing to join the African Agency for Commercial Insurance (ACA), the institution in charge of country risk and export insurance between African states.

Senegal’s application for membership was examined during the 19th General Assembly of Member States held in Cotonou on July 5, 2019. The candidacy of the second economic of the West African Economic and Monetary Union (UEMOA) has been approved. It should be noted that the Senegalese government’s council of ministers held on December 18, 2019, examined and adopted a bill authorizing the ratification of the agreement establishing the ACA.

A financing contract is being finalized between Senegal and the European Investment Bank (EIB) for the country’s participation in the capital of ACA. In addition to Nigeria which has just made its membership this week, ACA now has 16 members, namely Benin, Burundi, Ivory Coast, Ethiopia, Ghana, Kenya, Madagascar, Malawi, l ‘Uganda, Democratic Republic of Congo, Rwanda, South Sudan, Tanzania, Zambia and Zimbabwe.

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