$25bn African microinsurance market mostly untapped, finds report
Little over 2% of Africa's 700 million working poor are covered by insurance, representing a vast untapped opportunity for social and economic development, according to a new study by the Microinsurance Innovation Facility of the International Labour Office.
The study, "The Landscape of Microinsurance in Africa", shows that only 14.7 million low-income workers in Africa have access to microinsurance, a tiny fraction compared to the approximately 700
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