Sub-Saharan Africa

Coping with Rising Natural Catastrophes Across Africa
The 50th AIO Conference and Annual General Assembly will be held from June 1-5, 2024, in Windhoek, Namibia. This milestone event will bring together a distinguished group of internationally renowned experts to discuss the latest trends, technologies, and best practices in the insurance industry. The conference theme, "Coping with Rising Natural Catastrophes Across Africa" will address the pressing challenges posed by climate change and aims to explore innovative solutions for the continent's insurance sector. Participants will have numerous opportunities to network and exchange ideas with
IFC Climate Insurance AgTech in Africa: How Advisory and Investment Services are Building the Sector
The document provides an extensive overview of the collaborative efforts between the Advisory and Investment teams at IFC, emphasizing their support for innovative agricultural insurance initiatives in developing countries. It delves into the transformative impact of these initiatives, beginning with the initial backing of Kilimo Salama in Kenya, followed by the scaling-up phase and IFC's 2024 investment in Pula. Through interviews with key figures like Florence P. Boupda, Fatou Assah, and Zeeshan Vazeer, the document highlights the strategic role of advisory services in identifying clients
Climate Risk Insurance Training in Luanda, Angola
The Agência Angolana de Regulação e Supervisão de Seguros (ARSEG) plays a critical role in developing the agricultural insurance market by providing an enabling environment for private-sector investment in Angola. IFC is supporting ARSEG in developing an enabling environment for agricultural insurance to promote the resilience of farmers in Angola against the impacts of climate change and increase their financial inclusion. ARSEG keen on a holistic regulatory framework conducive to index insurance innovation, consumer protection and allowing for more sustainable market growth. As first step in
This blog highlights IFC's critical role in supporting climate risk insurance products through collaborative efforts between its Advisory and Investment teams, other development partners and public-private stakeholders. It features a project example involving various levels of engagement within the WBG, which started from a pilot in 2010 and led to an investment in 2024. In 2010, the World Bank Group's Global Index Insurance Facility (GIIF) program started providing technical assistance and capacity building support to Kilimo Salama (KS), an index-based microinsurance product developed jointly
Financing Climate Resilience for Malawi’s Smallholder Farmers
In the wake of Cyclone Freddy's devastating impact on Malawi's smallholder farmers, the story of Jeya Nsinda stands as a testament to resilience and hope. Cyclone Freddy swept away not just crops but also the livelihoods of countless farmers, leaving them grappling with food shortages and financial struggles. Amidst this adversity, One Acre Fund, in collaboration with IFC, is making a significant difference by providing climate insurance to smallholder farmers in sub-Saharan Africa, offering a lifeline to those who depend on the land for their income. This partnership is not just about
Get ready for an insightful discussion with Florence Boupda , the Global Sector Manager for Banking Insurance at the IFC’s Financial Institutions Group (FIG) . In this exclusive interview, we delve into recent deals shaping the insurance sector and how they align with FIG's vision for expansion. Florence highlights the strategic advantages of these deals in line with IFC's sustainability agenda, offering valuable insights into leveraging collaboration between Advisory and Investment Services to pursue further opportunities. Join us as we uncover the strategic roadmap for advancing sustainable
Join us for an engaging interview with Zeeshan Vazeer , Global Head of Insurtech and Senior Industry Specialist for Insurance at IFC’s Financial Institutions Group (FIG) . Zeeshan will explore the strategically important PULA deal within FIG's investment portfolio, discussing its significance and the factors influencing the investment decision. GIIF will also delve into challenges like operational scalability and the importance of trust in local communities. Through this insightful discussion, Zeeshan will analyze the transformative impact of the deal, offering valuable insights into future
In the face of Cyclone Freddy's destructive aftermath, Jeya Nsinda, a resilient Malawian farmer and mother of three, triumphed over adversity with the invaluable support of climate insurance provided by One Acre Fund. The collaboration between IFC and One Acre Fund is a commendable effort aimed at extending this crucial financial safety net to 1.5 million smallholder farmers, mirroring Jeya's experience, across six African countries by 2025. This initiative is a pivotal component of IFC's Africa Inclusive Insurance Program, which delivers advisory services to various entities, including
Senegal: Symposium on Index Insurance and Disaster Risk Financing for French-Speaking Countries
We invite you to delve into the insightful symposium on index insurance and disaster risk financing for French-speaking countries, which took place in Dakar, Senegal. This event brought together over 120 participants from 15+ African nations, including experts, representatives, and stakeholders, to discuss innovative financial solutions for enhancing farmers' resilience to climate-related risks. The symposium emphasized the development of accurate index designs, the importance of partnerships between governments and the private sector, and the role of financial institutions in distributing
IFC recently concluded two regional insurtech mapping studies in Africa and South-East Asia. The studies provided useful insights on industry trends and investable opportunities. Insurtech is reimagining insurance for incumbent (re)insurers and customers. Key trends include data-driven process optimization, industry-agnostic product development and cloud-based platforms . Usage-based personalized products and personalized customer service platforms such as offered by Naked Insurance are industry-agnostic and provide a large value add applicable across various insurance sectors. Remote claims