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KENYA: Diaspora Insurance partners with Positive Circles on women’s financial inclusion

By Diaspora Insurance News


DIASPORA Insurance was one of the partners for the ‘Let’s Talk Money: Igniting women in Business’ workshop which was held recently in Nairobi, Kenya to mark International Women’s Day.

The workshop, held at the Art Café in Nairobi, was organised by the group Positive Circles – “a dynamic network driven by women, for women whose mission is to empower women with spaces to learn, connect and impact”.

Reflecting on her address at the event, Positive Circles co-founder Dorris Temko Kirui said, “(my speech) stemmed from a ground-breaking Oxfam report released in 2022, which analysed the gender dynamics within institutional and government policies concerning Small and Medium Enterprises (SMEs) in Kenya.

“The report shed light on a staggering statistic: SMEs comprise  98% of businesses in Kenya, with 31.4% being female-owned. However, a particularly striking revelation was that women owned 61% of unlicensed SMEs.

She added; “This disparity begs the question: why do female entrepreneurs still encounter barriers in various domains?

“Is it a lack of information, insufficient funding, or perhaps the apprehension of taking risks that holds us back?”

, KENYA: Diaspora Insurance partners with Positive Circles on women’s financial inclusion

Diaspora Insurance executive director Dr Sibert Mandega

Diaspora Insurance executive director, Dr Sibert Mandega, said the Birmingham-based company is “very passionate” about supporting and collaborating with organisations that “promote women globally like Positive Circles and African Women in Europe (AWE)”.

“The nature of our products promotes financial inclusion of the marginalised people in Africa,” he said.

“The way our insurance product is structured, the Diaspora Funeral Cash Plan, is that an African diaspora in Europe can add family members back home on their same policy.”

He added; “Through such a structured product, people who could not access and afford insurance cover can now access it.

“Through such a structured product we are able to transfer insurance risk from the most remote parts of Africa into the first world capital markets through our global insurance and reinsurance structures.”

Meanwhile, Dorris Kirui said her interest in “the topic of financial inclusion is deeply rooted in my own upbringing.

, KENYA: Diaspora Insurance partners with Positive Circles on women’s financial inclusion

Positive Circles founder and leader Dorris Kirui

“Raised in a family where financial resources were scarce, I embarked on a personal mission to demystify money matters and empower other women with this knowledge.

“Understanding money is not just about economic prowess; it profoundly impacts every facet of our lives. It shapes our opportunities, choices, and aspirations.

“Through education and advocacy, we can bridge these gaps and pave the way for a more inclusive and prosperous future for women in business.”

Dr Mandega added that “in many ways Diaspora Insurance is answering the call of the African Union and African Development Bank for institutions to come up with structured financial products that harness the diaspora’s economic power beyond the remittances that promote financial inclusion of the marginalised people in Africa.”

The company specialises in “designing, marketing and distribution of insurance products and risk management solutions targeted at Expatriates and Diasporans living and working in developed markets like UK, Australia, EU, North America, Australia and New Zealand”.

Diaspora Insurance continues to grow exponentially and is now providing its services to 19 African nationalities in the diaspora. We remain at the forefront creating innovative products that address the insurable risks of the African diasporas” said Dr Mandega.

MORE IMAGES FROM NAIROBI WORKSHOP:

, KENYA: Diaspora Insurance partners with Positive Circles on women’s financial inclusion
, KENYA: Diaspora Insurance partners with Positive Circles on women’s financial inclusion
, KENYA: Diaspora Insurance partners with Positive Circles on women’s financial inclusion
, KENYA: Diaspora Insurance partners with Positive Circles on women’s financial inclusion
, KENYA: Diaspora Insurance partners with Positive Circles on women’s financial inclusion
, KENYA: Diaspora Insurance partners with Positive Circles on women’s financial inclusion
, KENYA: Diaspora Insurance partners with Positive Circles on women’s financial inclusion
, KENYA: Diaspora Insurance partners with Positive Circles on women’s financial inclusion
, KENYA: Diaspora Insurance partners with Positive Circles on women’s financial inclusion
, KENYA: Diaspora Insurance partners with Positive Circles on women’s financial inclusion
, KENYA: Diaspora Insurance partners with Positive Circles on women’s financial inclusion

 

team4dfiKENYA: Diaspora Insurance partners with Positive Circles on women’s financial inclusion