News Africa27 Jul 2020

Africa:Regional reinsurer to disburse US$3.3m for COVID-19 fight

27 Jul 2020

The African Reinsurance Corporation (Africa Re) has announced the disbursement of $3.3m 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 channeled 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. The disbursement is broken down as follows:

  • Cities hosting Africa Re offices: $2m will be allocated to the eight African cities hosting Africa Re Offices namely, Lagos, Johannesburg, Nairobi, Cairo, Abidjan, Casablanca, Mauritius and Addis Ababa;
  • African insurance associations: $820,000 will be allocated to the 41 associations of insurers in the 41 member states of Africa Re;
  • Africa CDC: $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 CEO of the pan-African reinsurer.


 

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