AfrexInsure, the newly formed insurance management services branch of African Export-Import Bank, was set up to issue one-entry access for all unique insurance requirements to control risks for transactions.
The company was created in 2021, with the view of providing answers to unique insurance business-related financing across the continent with access to standard, top-notch, unique insurance just for Africa.
AfrexInsure will solve issues bordering construction, operations and power, cargo pickup. The organization will help in areas necessary for the development and creation of business and investments across Africa by relying on their competence on risk issues, wide presence in the continent, and apt knowledge of Africa.
Kanayo Awani who is the executive vice president, Intra-African Trade Bank spoke who was the face of Oramah, quoted, “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.”
The executive vice president also said that AfrexInsure will boost the ability to improve insurance perception in Africa which is low and collaborate with the Caribbean region.
She further said that “It will also help retain insurance premiums in Africa and assist in ploughing back Africa’s investments into the continent for the enhancement of trade and economic development for the prosperity of the continent”.
The presentation also gave the opportunity for the broadcast of Insurance Optimized which is AfrexInsure’s logo and brand identity.
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial organization tasked to fund and develop intra-and extra-African trade.