Pan African financial institution Afrexim Bank has introduced Afrexinsurance, a new insurance firm designed to offer specialized insurance products for businesses across African countries.
Headquartered in Mauritius, Afrexinsuranceis set out to complement Afrexim Bank’s existing payment gateway and equity investment services. The launch event took place in Accra, Ghana.
Jonas Mushosho, the founding CEO of Afrexinsurance, emphasized that establishing the new insurance firm is a significant step in increasing insurance penetration in Africa and meeting the needs of those funding trade on the continent.
Afrexinsurance will become the eighth Afreximbank Group subsidiary, including the recently formed Fund for Export Development in Africa (FEDA) based in Kigali, Rwanda.
The establishment of Afrexinsurance expands Afrexim Bank’s range of financial services and strengthens its commitment to promoting trade and economic development in Africa.