The role of insurance in bridging financial exclusion in Mozambique
Hollard, a leading Pan-African insurer, is bucking traditional marketing trends by using unconventional methods to drive financial literacy and encourage insurance uptake in cyclone-prone Mozambique through relatable, yet simple and effective techniques that are rapidly gaining traction.
Israel Muchena, Managing Director of Life & Agricultural Insurance at Hollard, says that financial literacy levels are low in Mozambique, and this hinders broader access to the insurance needed to protect small-holder farmers from the risk of climatic disaster.
Higher levels of financial literacy can only be achieved if the concept of insurance is demystified, made relatable and communicated in Indigenous languages, he points out.
Muchena’s remarks come in response to Mozambican Deputy Minister of...