Sanlam Allianz launches financial literacy education campaign in Accra

 A financial ed­ucation campaign for informal sector workers to increase insur­ance penetration has been launched.

The three-month nationwide campaign, an initiative of Sanlam Allianz in partnership with the National Insurance Commis­sion (NIC) and partners such as the Ghana Insurers Association (GIA), is targeted at traders, tailors, dressmakers, hairdressers, barbers and other players in the informal economy.

Speaking at the launch in Accra, the Acting Commissioner of In­surance, Dr Abiba Zakariah, lauded Sanlam Allianz for the initiative, describing it as a step in the right direction to bridge the insurance gap in the country.

She said insurance played a crit­ical role in the growth and devel­opment of every nation, stressing that without it, both individuals and businesses were exposed to significant risks.

Dr Zakariah lamented that insurance penetration in Ghana was currently below one per cent, with majority of the population either having limited access to insurance or lacking a proper understanding of its benefits.

“Over 80 per cent of the Gha­naian population is in the informal sector, but many of them remain outside the insurance net. This campaign will help to educate, em­power and reach this underserved group,” Dr Zakariah said.

She noted that the NIC had been engaging informal sector groups to better understand their needs and design products tailored to their peculiar circumstances. Accord­ing to her, the Commission was encouraged that Sanlam Allianz was complementing efforts to expand access and improve trust in the industry.

The Chief Executive Officer of Sanlam Allianz, Mr Tawiah Ben-Ahmed, explained that the campaign formed part of the com­pany’s corporate social investment, aimed at supporting Ghanaians to build financial confidence through improved literacy.

He observed that Ghana’s insur­ance penetration had fallen to 0.63 per cent under new international reporting standards, underscoring the urgent need for awareness creation.

“This campaign is not about selling Sanlam Allianz products. It is about helping Ghanaians to un­derstand the basics of finance, why insurance is important, and how it can protect them from the financial consequenc­es of risks,” he said.

According to Mr Ben- Ahmed, the campaign will be rolled out through work­shops, radio programmes and community engagements across Accra, Kumasi, Koforid­ua and other regional centres.

He emphasised that financial education was key to building trust and confidence in the insurance industry, which continued to face public perceptions of not honour­ing claims.

The Chief Executive Officer of the Ghana Insurers Association, Dr Kingsley Kwabason lauded Sanlam Allianz for the programme and urged informal sector workers to take advantage of the programme to protect their future income security.

The President of the Chartered Insurance Institute of Ghana (CIIG), Mr Solomon Lartey, also pledged the Institute’s sup­port for the campaign, urging informal sector associations such as the Ghana Tailors and Dressmakers Asso­ciation to take advantage of the programme.

He said the initiative would con­tribute significantly to empowering artisans and traders with the knowl­edge to secure their livelihoods and businesses against unforeseen risks.

An Executive Member of the Ghana National Tailors, Dressmak­ers Association, Patience Mantey, commended Sanlam Allianz for the initiative and urged her colleagues to actively participate in the pro­gramme.

 BY KINGSLEY ASARE

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