Saturday, August 01, 2020 / 11:17 AM / By Africa Re / ICP
Media / Header Image Credit: Ecographics
The African Reinsurance
Corporation (Africa Re), the premier reinsurance group in Africa, has announced
the disbursement of the sum of US$ 3.3 million to assist stakeholders
in the ongoing fight against the Covid-19 pandemic in the continent. The
announcement was made after the 42nd Annual Ordinary Meeting of the General
Assembly held on 30 June 2020.
This assistance will be managed by the Africa Re Foundation, an independent
institution, set up to handle the corporate social responsibility projects of
the Africa Re Group.
This support will be channeled to various government and private institutions
at the forefront of the fight against the pandemic for awareness campaigns,
preventive measures, acquisition of medical equipment and personal protective
equipment. The disbursement is broken down as follows:
- Cities Hosting Africa Re Offices: US$ 2,000,000 will be allocated to
the 8 African cities hosting Africa Re Offices namely, Lagos,
Johannesburg, Nairobi, Cairo, Abidjan, Casablanca, Mauritius and Addis Ababa;
- African Insurance Associations: US$ 820,000 will be allocated to
the 41 associations of insurers in the 41 member States of Africa Re; and
- Africa CDC: US$ 500,000 will be granted to
the Africa Centre for Disease Control and Prevention, a public health agency of
the African Union.
"Staying together with our communities in the fight against the Covid-19
pandemic is in line with Africa Re's mission. This is a duty, as well as a
matter of pride, to contribute to the risk mitigation of the health crisis and
its socio-economic fallout", said Dr. Corneille KAREKEZI, the Group Managing
Director and Chief Executive Officer of the pan-African institution, while
commenting on the initiative.
Despite the obvious
negative outlook for the African insurance and reinsurance industry for 2020,
Africa Re wishes to strengthen the capacity and capability of Africa's public
health institutions to ensure a quick recovery from the ongoing health crisis.
For more information, please visit Africa Re Group.
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