Risk managers should monitor changing retail patterns

Risk managers should monitor changing retail patterns

Risk managers should monitor changing retail patterns

Risk managers should monitor Africa’s changing retail patterns, after the Rwandan government signed a deal connecting Rwandan shoppers directly with Chinese buyers and sellers. Internet users in emerging markets outnumber those in developed markets by a ratio of 2:1. Yet many emerging markets have struggled to access the benefits of digital commerce. The global market in digital commerce is estimated…

Axa XL closes Mauritius office

Axa XL closes Mauritius office

Axa XL closes Mauritius office

Following the merger of Axa and XL, and the integration of Axa Africa Speciality Risks within the new group, the group has closed its Mauritius operation. The Mauritius office had been a base from which Axa Africa Speciality Risks planned to springboard across Africa. The Mauritian office closed as of 1 January 2019. Any business will now be handled from…

New voucher scheme set to reach millions of potential insureds

New voucher scheme set to reach millions of potential insureds

New voucher scheme set to reach millions of potential insureds

A new voucher system has been launched in Tanzania, potentially extending the reach of insurance to millions more Africans. Mohammed Jaffer, Tan Management group CEO, said the Safari Vocha covers an insured against death and/or permanent disability when travelling. The lowest cover is TZS 200/- (about $0.80) for a period of three days and a sum insured of TZS1m (about…

Visa waiver deal set to increase trade between Kenya and Rwanda

Visa waiver deal set to increase trade between Kenya and Rwanda

Visa waiver deal set to increase trade between Kenya and Rwanda

The risk of business people failing to travel thanks to visa difficulties is slowly diminishing across Africa, as certain countries relax their rules. Kenya and Mozambique have just signed a visa waiver framework, paving the way for free movement of people that will boost trade between the two countries. Kenya’s President Uhuru Kenyatta said the visa waiver arrangement will boost…

COMESA and EU sign trade pact

COMESA and EU sign trade pact

COMESA and EU sign trade pact

The Common Market for East and Southern Africa (COMESA) and the European Union have signed a €53m trade facilitation deal. The funds will be used to implement the COMESA Trade Facilitation Programme, which aims at increasing intra-regional trade flows of goods, persons and services by reducing the costs and delays of imports and exports at specific border posts. It will…

Rwanda set fair for business growth

Rwanda set fair for business growth

Rwanda set fair for business growth

Strong governance, a conducive business environment and a stable macroeconomic performance have resulted in Fitch Ratings affirming Rwanda’s long-term foreign-currency Issuer Default Rating (IDR) at B+ with a stable outlook. Fitch added that the country is marked by high potential growth and relatively low inflation, against weak income and development indicators, twin deficits and high public external indebtedness. Fitch forecasts…

Energy, renewables and construction

Energy, renewables and construction

Energy, renewables and construction

The discovery of major deposits of both oil and gas off the shores of east Africa has created hopes of a new commodity bonanza for Africa. However, for the insurance markets to get involved there are some hurdles to overcome, as delegates at a recent roundtable organised by Commercial Risk Africa and sponsored by Clyde & Co discussed Africa has…

East Africa moves one step closer to harmonised insurance regulation

East Africa moves one step closer to harmonised insurance regulation

East Africa moves one step closer to harmonised insurance regulation

This year’s Organisation of Eastern and Southern African Insurers conference in Tanzania highlighted growing demand for regional, if not continental solutions East Africa could soon have a harmonised insurance regulatory system, as the region’s governments move ever closer to an agreement. Speaking at the Organisation of Eastern and Southern African Insurers’ (OESAI) annual conference in Arusha, Samuel Mwiru, director –…

African Development Bank joins risk management efforts to curb impact of worm infestation on east African agriculture

African Development Bank joins risk management efforts to curb impact of worm infestation on east African agriculture

African Development Bank joins risk management efforts to curb impact of worm infestation on east African agriculture

The African Development Bank (AfDB) has joined the efforts to manage the risk of devastation among smallholder farms in east Africa, after an infestation by the fall army worm. The bank has convened a meeting of experts and stakeholders in the agricultural sector to design integrated pest and disease management mechanisms for controlling the spread of the fall armyworm in…

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