MIC Global (MIC) is proud to announce that we have secured a grant from UNCDF after a competitive process of request for application. The grant will enable us to provide free insurance to thousands of MSMEs in Ghana. Our objective is to minimize the social and economic impact COVID-19 has wrecked on poor communities. This includes small to medium sized businesses such as farmers, grocery vendors, and porridge sellers.
We have created an 8-in-1 bundled income protection insurance in order to stimulate a faster economic recovery. We are utilizing our ongoing partnerships with Vodafone, Opportunity International and Advans Ghana Savings and Loans, Danone as well as MTN Mobile Money in order to distribute the insurance product to affected MSMEs. While our main goal is to mitigate the havoc caused by Covid-19, we have also worked hard to create a user-friendly experience. By doing so, our hope is to change the overall perception around insurance into a positive one, thus, encouraging MSMEs to purchase paid insurance for their businesses in the future after their period of free cover expires.
Christiana Abdullai who sells porridge (local breakfast made from millet) and has banked with Opportunity International for over 10 years has been rewarded with 12 months free protection cover. We look forward to seeing how this improves her economic situation and her general perception of Insurance.
“At the heart of MIC’s work lies a great need to bring relief and restore confidence in livelihoods. We are surrounded by risks everyday, which do not necessarily go away if we ignore them. This project helps us to show MSME owners that their lives can be better and their businesses can be safeguarded. Cheers to a year of free insurance protection for MSMEs in Ghana.”Leona Abban, Ghana Country Manager for MIC Global