Nigeria’s National Insurance Commission sets N600m capital base for national micro-insurance licence.

Nigeria’s National Insurance Commission, NAICOM, yesterday unveiled the revised guidelines for micro-insurance operations, which stipulates N600 million minimum capital base for national micro-insurance license. The Commission defined micro-insurance as ‘insurance developed for low income populations, low valued policies, micro and small scale enterprises provided by licensed institutions, run in accordance with generally accepted insurance principles,… Continue reading Nigeria’s National Insurance Commission sets N600m capital base for national micro-insurance licence.

Sub-Saharan Africa to grow at a slower rate this year, World Bank says

The economy of sub-Saharan Africa is seen growing more slowly this year than previously forecast, largely due to weak investment and productivity, the World Bank said on Wednesday. In a report, it forecast growth in the region to be 2.4 percent in 2017, down from the 2.6 percent that it projected in April. But growth… Continue reading Sub-Saharan Africa to grow at a slower rate this year, World Bank says