By investing in insurance and micro-insurance companies, LeapFrog Financial Inclusion Fund is increasing the range of affordable insurance products for the poorest populations in Sub-Saharan Africa.
LeapFrog Financial Inclusion Fund is the only investment fund specialized in microinsurance. It invests in Africa and Asia, and more particularly in South Africa, Kenya, Ghana, India, the Philippines and Indonesia.
The fund will invest in existing and new microinsurance companies, in partnership with large distribution companies. The first EUR 6m operation was conducted in 2009 in AllLife, an insurer specialized in life insurance for HIV-positive persons or diabetes sufferers in South Africa. Proparco’s financial support will be earmarked for the fund’s technical assistance facility. This facility will provide the companies invested in with training and consultant missions in order to support the development of their microinsurance activities.
This financing will support the development of the range of insurance products at affordable prices for low-income populations in Sub-Saharan Africa, who are traditionally excluded from them. It will contribute to the fight against poverty, support for employment, the diversification of the financial sector and the development of the private sector. The financial support has allowed 7 capacity building actions to be set up for microinsurance companies.
04/05/2010Date of signature of the project
Multi-country Global | India | South Africa | Ghana | NigeriaLocation
3 993 635 EurosAmount of funding
Equity investment of USD 5m and technical assistance of EUR 250,000
LeapFrog Financial Inclusion Fund