Insurance Should Become Poor Friendly

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By Staff Reporter

WINDHOEK

Insurance companies and medical aid funds should develop special products to meet the special needs of the poor who are currently unable to access services from the industry due to insurance policy exclusions and prohibitive policy premiums, said Finance Minister Saara Kuugongelwa-Amadhila.

In her address during Namfisa’s consumer education programme last week, the minister said national efforts should be reinforced to ensure access to treatment for all HIV/AIDS infected Namibians and support for orphaned children to ensure a normal childhood.

“Although Government is committed to ensure support to the most vulnerable in our society, it is becoming increasingly difficult for Government to cope with the associated costs as the full impact of the disease phases in. A joint effort by all stakeholders in this regard has therefore become very important and an urgent need.”

Namfisa kicked off its education programme last week with the aim to reach three percent of its target market. Its primary market is the existing and potential users of non-banking financial services and products.

The institution’s secondary market is the financial sector, Government, the legislature, civil society, unions, development partners, the media and the youth.

Kuugongelwa-Amadhila announced Namfisa’s new board of directors. They are Rick Kukuri (chairperson), Iipumbu Shiimi, Baronice Hans, Tia Chata, and Titus Iipumbu.

During the event, Namfisa CEO Raimer Ritter returned N$7.5 million to the finance minister the institution received at its inception from the Treasury five years ago.

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