POLITICS & INSTITUTIONS - ECONOMY

Kenyan insurer wins European Microfinance Award



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 European Microfinance Award/Studion

The 2019 European Microfinance Award was awarded to Kenyan outfit APA Insurance Ltd on Thursday evening.

The theme of this year's European Microfinance Award was “Strengthening Resilience to Climate Change”. The winner, APA Insurance Ltd, is a Kenyan insurance company that provides index- based agriculture insurance to cover yields and livestock, thus providing farmers with a safety net. The company currently covers more than 350,000 families whose livelihoods are largely based on agriculture.

Minister for cooperation and humanitarian affairs Paulette Lenert (LSAP), was on hand to present the award at the ceremony held at the European Investment Bank, whose Werner Hoyer is pictured left. "This year's award illustrates that inclusive finance has an essential role to play in strengthening the resilience of vulnerable communities to the effects of climate change, which threaten the livelihoods of disadvantaged communities, especially those relying on agriculture, forestry or fisheries,” Lenert said.