New app to give Ugandans free insurance cover

New app to give Ugandans free insurance cover

New app to give Ugandans free insurance cover

Android app SureBüddy has launched sponsored insurance and insurance-related products in Uganda. SureBüddy plans to roll out into 11 Sub Saharan Africa countries, as well as India, Turkey, Indonesia, Philippines and Pakistan, with South American countries to follow. The company claimed SureBüddy is simple and easy to use – the app renders advertisements, the consumer watches the ads and then…

Driverless cars could reshape Africa’s insurance markets

Driverless cars could reshape Africa’s insurance markets

Driverless cars could reshape Africa’s insurance markets

The motor insurance sector, which drives many of the African insurance markets, is set to be completely transformed as widespread adoption of driverless cars will shift liability towards manufacturers, according to a new report from Fitch Ratings. It states that insurers will be forced to diversify in search of other profit sources and some of those that fail to adapt…

Number of wealthy Africans on increase as extreme poverty numbers rise significantly

Number of wealthy Africans on increase as extreme poverty numbers rise significantly

Number of wealthy Africans on increase as extreme poverty numbers rise significantly

Seven of the 10 most economically unequal countries in the world are in Africa, most of them in southern Africa, according to the World Bank. In a new report, the bank says poverty across the continent may be lower than current estimates suggest, though the number of people living in extreme poverty has grown substantially since 1990. Poverty in a…

Risk management at heart of new weather risk-related deal

Risk management at heart of new weather risk-related deal

Risk management at heart of new weather risk-related deal

African Risk Capacity (ARC) has formally teamed up with the African Development Bank (AfDB) to strengthen mechanisms to manage weather-related risk on the continent. The organisations said: “This partnership will formalise a technical collaboration to enhance risk management infrastructure and policy across Africa; it will also support African countries in building resilience against climate shocks and in taking ownership of…

Linkage in bid to drive growth through Nigerian brokers

Linkage in bid to drive growth through Nigerian brokers

Linkage in bid to drive growth through Nigerian brokers

Linkage Assurance has strengthened its partnership with brokers to generate strategic growth potential and expand its market-share in the Nigerian insurance sector. New managing director and CEO Dr Pius Apere said at the February 2017 Members’ Evening of the Nigerian Council of Registered Insurance Brokers that brokers have a big role to play to ensure that insurance takes deeper root…

Cross-border online retail predicted to grow at twice the rate of domestic e-commerce

Cross-border online retail predicted to grow at twice the rate of domestic e-commerce

Cross-border online retail predicted to grow at twice the rate of domestic e-commerce

African retailers have a great opportunity to grow their business across borders through e-commerce channels, according to a new report from DHL Express. Retailers often consider cross-border business carries too many risks, however this report suggests those risks could be less than the potential rewards. The 21st Century Spice Trade: A Guide to the Cross-Border E-Commerce Opportunity – looks at the markets…

Kenya farmers get largest ever payout as weather index insurance kicks in

Kenya farmers get largest ever payout as weather index insurance kicks in

Kenya farmers get largest ever payout as weather index insurance kicks in

Kenya pastoralists will receive $2.15m as compensation for loss of livestock in the ongoing drought, from Kenya Livestock Insurance Programme (KLIP), a World Bank- and Kenya government-backed agriculture insurance scheme. The payout comes as the UK government gives more than £230m in aid to drought-stricken South Sudan and Somalia. Aid agencies are also warning of risks of famine in northeast…

Insurers must adapt if they are to meet insureds’ demands for the future

Insurers must adapt if they are to meet insureds’ demands for the future

Insurers must adapt if they are to meet insureds’ demands for the future

  Insurers across Africa need to be preparing now for massive changes ahead, warns one South African insurance boss. Stuart Wenman, managing director insurance [Africa] at Liberty Holdings, told Commercial Risk Africa: “The risks on the general insurance side of the business are changing. “Motor insurance could be wiped out in the next ten years because the case for owning…

Food, glorious food

Food, glorious food

Food, glorious food

Africa has sometimes been described as the world’s bread basket, but much of the continent is still plagued with difficulties including adverse climates and political risks, which hamper the region’s ability to produce food on a global scale.   Agriculture and food markets are plagued with inefficiencies that have dramatic consequences for the welfare of the world’s most vulnerable populations,…

Drought-wracked southern Africa has seen its agricultural sector hit hard

Drought-wracked southern Africa has seen its agricultural sector hit hard

Drought-wracked southern Africa has seen its agricultural sector hit hard

  Primary agriculture makes up around 3% of South Africa’s GDP, with the extended value chain contributing as much as 27% to the country’s economy. Although the contribution by agriculture to total GDP varies significantly from one Sub Saharan African (SSA) economy to the next, South Africa boasts by far the greatest agriculture production in the region. The usually positive…

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