Afrimoney, Insurance Association forge partnership

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In a groundbreaking move to streamline insurance premium payments, Afrimoney has officially launched its partnership with the Sierra Leone Insurance Association. The launch event took place at Africell’s Head Office in Freetown, marking a significant step towards enhancing financial transactions in the insurance sector for Sierra Leoneans.

This innovative collaboration allows Sierra Leoneans to pay their insurance premiums with unparalleled ease and comfort through Afrimoney by simply dialing *161*2*11*10#. This initiative is designed to simplify the payment process, ensuring that clients can conduct their business transactions swiftly and efficiently.

Raymond Macaulay, President of the Sierra Leone Insurance Association, highlighted the benefits of this partnership. “This initiative will provide an opportunity for our clients to manage their various businesses and transactions more quickly,” he stated. Macaulay emphasized that the partnership opens up more opportunities for clients, offering various provider options to address the perennial issue of small remittances.

Echoing this sentiment, Ambassador Alie Bangura, Chairman of the ECOWAS Brown Card, noted that this journey began over a year ago with the aim of digitalizing motor insurance in Sierra Leone. He cited statistics indicating that of the 250,000 vehicles on Sierra Leone’s roads, only 8,153 were insured within the last six months. “This is a growing concern, as only 8% of vehicles are properly insured,” Bangura said.

Martinson Obeng Agyei, Managing Director of Afrimoney, expressed Afrimoney’s commitment to playing a significant role in creating a cashless economy. He acknowledged that while Sierra Leone is behind Western countries in this regard, technological advancements will help bridge the gap. “The essence of this initiative is to ensure easy vehicle insurance and to expose those who have not been insuring their vehicles,” Agyei explained. He also mentioned the short code *9292# for confirming insurance validity.

Agyei further underscored the importance of insurance, noting that adequate coverage can turn unfortunate situations into beneficial outcomes through lifetime policies. He pointed out that the transaction fee for paying motor insurance via Afrimoney is a nominal 1%.

Concluding the launch event, Agyei reaffirmed the initiative’s significance. “This is not just talk; it’s a testament to our vision of seeing Sierra Leone go digital,” he declared.

The event concluded with photographs capturing the various stakeholders and partners who attended the ceremony, symbolizing a united front in the quest to digitalize Sierra Leone’s insurance sector.

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