Namibia looks for African microinsurance development role
Namibia hopes to be at the forefront of the development of microinsurance as the concept takes further hold in Africa. Traditionally, take-up of the concept, which can include health, life, property, agricultural and catastrophe insurance and is often sold in combination with loans or other financial services, has been lower in Africa than in other regions – the continent accounts for 5% of the global microinsurance, compared with 80% in Asia and 15% in Latin America – but it is attracting fresh interest.