Microcapital Brief: Britam Expanding Portfolio To Offering Holding Insurance For Microenterprises Inwards Africa Alongside Support From Habitat For Humanity, Ilo

Britam, a Republic of Kenya-based investment business organisation firm active inwards vii African countries, is working on “developing new belongings insurance solutions” to render security to microentrepreneurs who role their homes for business operations inward improver to storage. The project is supported by the USA of America-based nonprofit Habitat for Humanity in addition to the Impact Insurance Facility of the United Nations’s International Labour Organization (ILO).

George Mugweru, the housing marketplace systems specialist at Habitat for Humanity, stated, “Research has constitute that 35 percentage of Kenyans have reported losing their homes, businesses or belongings due to fire, inundation, theft or eviction inwards the concluding two years. Therefore, we decided to develop this project alongside the ILO to incubate innovative holding take chances direction solutions.”

Britam was founded inward 1965 as well has since expanded from Republic of Kenya to serve Malawi, Mozambique, Rwanda, South Sudan, Tanzania as good as Republic of Republic of Uganda. The business firm is active inwards insurance, asset direction, banking together with belongings evolution. As of 2019, Britam has KSH 125 billion (USD 1.fifteen billion) inward total assets. 

The Impact Insurance Facility is housed inside ILO’s Social Finance Program, which has staff of xviii. Formerly known every bit the Microinsurance Innovation Facility, the finish of the entity is to facilitate the efforts of the insurance industry, governments in addition to other partners to expand insurance options for low-income people, especially to protect agriculture, health, life together with property. 

Founded inwards 1919, ILO has 187 member states. Its mission is to cook international labour standards too policies for sustainable piece of work inwards addition to working atmospheric condition. As of December 2018, ILO had total assets of USD 1.95 billion likewise a i-yr deficit of USD 30 1000000. 

Habitat for Humanity seeks to furnish deplorable people amongst brand make clean, safe as well as affordable places to live. Since its inception inwards 1976, Habitat for Humanity has engaged the services of homeowners as good as volunteers to make houses under the supervision of trained builders. In the US, the organization offers no-interest mortgage loans straight to depression-income families, as good as in other countries it partners with microfinance institutions to distribute as good as service abode loans. Habitat for Humanity operates inwards seventy countries inwards improver to reported full net assets of USD iii.1 billion as of June 2019.

By Romil Pandey, Research Associate

Sources also Additional Resources

ILO press gratis

Britam homepage

Britam annual written report 2019

Habitat for Humanity homepage

Habitat for Humanity Annual Report FY 2019

Impact Insurance Facility homepage

ILO Financial Report Dec 2018

Social Finance 2019 Annual Report

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