AFRICA – The African Reinsurance Corporation (Africa Re), the premier reinsurance group in Africa, has announced the disbursement of the sum of US$3.3 million to assist stakeholders in the ongoing fight against the Covid-19 pandemic in the continent.
This assistance will be managed by the Africa Re Foundation, an independent institution, set up to handle the corporate social responsibility projects of the Africa Re Group.
This support will be channelled to various government and private institutions at the forefront of the fight against the pandemic for awareness campaigns, preventive measures, acquisition of medical equipment and personal protective equipment.
41 associations of insurers in the 41 member States of Africa Re will receive US$ 820,000 and 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.
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 despite the obvious negative outlook for the African insurance and reinsurance industry for 2020.
Established in 1976 by African member states of the African Union (AU, formerly OAU) and the African Development Bank (AfDB), African Reinsurance Corporation (Africa Re) Group is the leading pan-African reinsurance company in Africa and the Middle East.
Headquartered in Lagos, Nigeria, it has the largest reinsurance commercial network in Africa with 8 offices across Africa: Casablanca, Cairo, Abidjan, Nairobi, Johannesburg, Lagos, Ebène (Mauritius) and Addis Ababa.
In addition of its 6 Regional Offices across Africa, its two main subsidiaries are the Africa Re (South Africa Ltd.) based in Johannesburg and the Africa Retakaful Company based in Cairo, Egypt.