The Executive Vice President of the Intra – African Trade Bank of the African Export-Import Bank (Afreximbank), Kanayo Awani has reiterated the need for African businesses to embrace innovative insurance packages to spur economic growth.
This, she explains will reduce the several instances of the continent’s over reliance on its external partners for optimal economic transformation.
Mrs. Kanayo Awani made these comments at the official launch of AfrexInsure in Accra as part activities to mark the Day 1 of the Afreximbank’s 30th Anniversary Annual Meetings.
“By reducing the risk of transactions or investments, insurance can help drive forward business strategy for those engaged in intra-African trade and enable global partners to further their commercial interests and ambitions in Africa,” said Ms. Awani.
She further indicated that: “With credible knowledge of Africa, AfrexInsure will leverage on its risk expertise by using its continent-wide presence and deep understanding of the African market to provide solutions around cargo handling, construction, operations and energy – sectors critical for the growth and establishment of trade and investment intercontinentally”.
She also noted that insurance penetration is relatively low in Africa compared to other regions and assured of the banks support to address this trajectory by, strengthening efforts to address this need in Africa and in partner states in the Caribbean.
The launch also witnessed the unveiling of AfrexInsure’s logo and brand identity under the slogan “Insurance Optimised”.