German Development Cooperation equips Insurance Awareness Group in Ghana

April 9, 2024
German Development Cooperation equips Insurance Awareness Group in Ghana

The German Development Cooperation has provided essential office infrastructure valued at GH¢ 130,000 to the Insurance Awareness Coordinators Group (IACG) Secretariat in Ghana, aiming to enhance insurance education and accessibility.

For eight years, GIZ Ghana has hosted the IACG, and this recent handover of office equipment marks a significant step forward in strengthening the operational capabilities of the IACG Secretariat and advancing towards a sustainable future.

The contribution, made by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH on behalf of the German Federal Ministry for Economic Cooperation, symbolizes a deepened partnership commitment to promoting insurance awareness and education in Ghana.

The event signifies the transition of IACG into an organization with a functional secretariat and a diverse funding structure, fostering sustainability and contributing to the growth of Ghana's insurance sector.

During the ceremony, a symbolic signing of the certificate of donation and exchange of a laptop occurred between Dr Christian Jahn of GIZ and Mr Wilson Tei from the IACG, emphasizing the initiative's intention to empower an informed and insured Ghana.

Dr. Jahn highlighted the broader significance of the collaboration, focusing on establishing the groundwork for an independent organization. Mr Tei emphasized the potential impact of the resources, aiming to elevate efforts in educating Ghanaians about insurance for financial security and resilience.

The initiative responds to data indicating low insurance coverage among Ghana's population, despite a vast untapped market. Through strategic partnerships and national development objectives, the initiative aims to bridge the insurance gap, aligning with Ghana's developmental aspirations.

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