IFC, Activa Launch Insurance Programme

INTERNATIONAL FINANCE Corporation, a member of the World Bank Group, and Activa International Insurance Ghana (AIIG) have launched an insurance programme that is expected to benefit two million Ghanaian women including entrepreneurs by 2022.

Under the Activ’Lady programme, IFC and Activa International Insurance, a member of the Globus Network, will raise awareness among women entrepreneurs and other women about the importance of insurance in mitigating risk for their businesses and boosting coverage to protect against unexpected events.

“We know Ghanaian women are entrepreneurial, however, many of them do not have the insurance coverage they need to protect and expand their businesses,” said Marieme Esther Dassanou, Global Women’s Insurance program leader of IFC’s Gender Business Group. “This partnership helps us create a platform that will make Ghanaian women entrepreneurs more resilient to personal and business shocks and provide security and some handholding as they grow through the entrepreneurship journey.”

In 2018, a study led by IFC and AIIG found that a majority of Ghanaian women lacked awareness about nonlife insurance.  

“As a leading provider of nonlife insurance in Ghana, AIIG realizes that women are the lifeline of the Ghanaian economy,” said Solomon Lartey, Managing Director of AIIG. “Through the Activ’Lady program, AIIG aims to improve the lives of women in Ghana, regardless of their social background or life stage by providing solutions that will empower them to bring an active change in their lives as entrepreneurs, traders, and professionals.”

Deputy Commissioner of Insurance, Michael Kofi Andoh, expressed delight for the insurance solution to women entrepreneurs and noted that it was the first of its kind in Ghana.

The CEO of Ghana Export Promotion Authority, Afua Asabea Asare, applauded the efforts by Activa and IFC in putting this together because, according to her, women entrepreneurship with appropriate insurance solutions is the world most promising area yet to be tapped; so it is very refreshing to see Activa and IFT going that direction.