Sudan: Challenges of Micro-insurance in Africa

Khartoum – The African Insurance Organization (AIO) selected the chairman of the Association of the Sudanese Insurance & Reinsurance Companies; Hassan Mohamed for the chairmanship of its current session 2012. The Sudanese Capital Khartoum hosted the 33rd meeting in (27-30 May) at the Friendship hall with a wide international and regional participation from insurance and reinsurance companies and concerned bodies in many countries. SUNA interviewed the chairman of AIO Mr. Hassan Mohamed to shed light on the future of Micro insurance in Africa:-

Q: What are the main topics that tackled in the Conference?

A: The conference focused on the opportunities and challenges of the Micro Insurance in Africa. All African countries adopt these methods to reduce poverty and to create small productive societies, which support to increase the level of per capital income in the African societies. Thus the role of insurance is so important to provide means of finance for those weak sectors.

Q: What about the work papers of the participants?

A: The conference discussed many work papers that reviewed some successful experiences (Sri Lanka and other states). The representatives of the states exchanged views and opinions to create an African compound of Micro Insurance and to support each other in strengthen this kind of insurance, what decrease the suffer of the African people

Q: What are the kinds of participating in the conference?

A: About 52 states from worldwide participated in the conference including UK, Germany, Australia, Shelly and states of the Middle East. The participants’ number from outside the country was more than 500 and from inside was about 200 people.
Unfortunately, most African states don’t know more about Sudan despite we have a pioneered role in these fields. Sudan was one of the founding members of A I O, which had been established in 1972. While we participate with 2 companies including 30 companies, but we didn’t get the chance of hosting the annual meeting until this year.

Q: What are the important features of the conference recommendations?

A: The main recommendations of the conference are to support the finance and Macro Insurance as the principal factors of alleviating suffering of the people and to establish an African Institute of Insurance in Sudan, particularly the International University of Africa based in Sudan achieved great success as there are 5 000 African student, what will facilitate the studying, researches and training activities of the new -borne institute.
“Another recommendations of the conference called to encourage the Takaful Insurance companies (Re- insurance companies) to open new branches in the African states, what will motivate its work, that began with only one company in Sudan and reached now to about 180 companies and expected to increase in future ” declared Hassan and pointed that in Europe there are some companies directed to open windows to Takaful Insurance due to its great benefits.

Q: What about your future plans after getting the chairmanship of AIO?

A: We will exert efforts to focus on Sudan experiences in field of Micro-insurance and the role of Association of the Sudanese Insurance & Reinsurance Companies. In addition to convene a workshop of the African Insurance Observers in Khartoum to tackle the role of the African states in promoting the finance and Micro Insurance besides Sudan will host the workshop of the International Co-operative Alliance next November to reflect Sudan experience and to encourage the concept of Micro Insurance among the African people

Q: What are the impressions of the participants in the conference?

A: It is the first visit for most of the participants in the conference. They thought that Sudan is unstable country but they were surprised when they found the security and stability of conditions in the country particularly the participants from Europe who appeared happy touring peacefully in Nile Street till late time in night and commented ” The conference was a good opportunity to change our idea on Sudan after what we heard and seen in the misleading media.
SUNA learned that Sudan received the chairmanship from Zimbabwe and the next session conference will hold in Egypt.

SOURCE: Sudan Vision