Cameroon: IFC and Activa assurance support female entrepreneurship

Activa Assurance with the support of the International Finance Corporation (IFC), the World Bank Group (WB) entity dedicated to financing the private sector, is making two new insurance solutions available to Cameroonian female entrepreneurs. objective of covering more than one million women by 2022. This solution makes it possible in particular to save money and carry out business creation projects and health coverage primarily intended for women grouped together in cooperatives.

According to its promoters, this program is supported by the Funding Initiative for Women Entrepreneurs (We-Fi) aimed at improving access to finance for women promoters of income-generating activities.

“IFC supports Activa Cameroon’s commitment to empower Cameroonian women by helping them build their savings, develop their businesses, and protect their families. Women represent a growing market in Cameroon. Strengthening their participation in the economy will stimulate growth and contribute to economic recovery, ”said IFC for Central Africa.

It was in 2019 that IFC and Activa Assurances launched the Activ’Lady program with the aim of developing an insurance model for women and entrepreneurs. A program that stems from the “SheforShield” study, initiated by the IFC which reveals that the insurance sector could generate $ 1.7 trillion globally.

“Insurance promotes savings and enables effective risk management and is an excellent investment channel. Without access to insurance, women often resort to informal loans to cover health costs or other expenses, which impairs their ability to recover from difficulties, ”said the executive chairman of the Activa group. , Richard Lowe.

The launch of this initiative comes in a context marked by a low penetration rate of insurance in the country, less than 5% according to the Association of Insurance Companies in Cameroon (ASAC).

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