Accra: Small and Medium Enterprises (SMEs) in Ghana are set to receive a significant boost with the introduction of the Business Guard Insurance by Sanlam Allianz General Insurance, in partnership with Olea M and G Insurance Brokers. Madam Esther Armah, Head of Reinsurance and AML at the National Insurance Commission, praised this initiative during its launch in Accra, highlighting the potential benefits for SMEs in managing risks and fostering growth.

According to Ghana News Agency, the Business Guard SMS Insurance provides comprehensive coverage for assets, money, premises, employee dishonesty, and group life insurance, tailored to the needs of SMEs. Madam Armah emphasized the vital role of the insurance sector in providing security and confidence for businesses, regardless of their size or complexity. She noted that making insurance accessible to SMEs could substantially impact their operations by managing uncertainties effectively.

Madam Armah pointed out the importance of the Business Guard as a timely
response to the needs of SMEs, offering focused protection and accessibility across the country. She stressed that the insurance industry’s commitment is reflected through initiatives like this, aimed at empowering Ghanaian businesses with solutions that support growth and resilience. Furthermore, she acknowledged the challenges of low insurance penetration in Ghana, which remains below two percent, and called for increased education on insurance benefits to enhance access among SMEs.

The National Insurance Commission, as a regulator, is devoted to supporting initiatives that address market needs and fostering an environment conducive to the success of products like Business Guard. The partnership between Sanlam Allianz General Insurance and Olea M and G is expected to advance financial inclusion and deepen the value of insurance for Ghanaian businesses.

Mabel Nana Nyarkoa Porbley, MD/CEO of Sanlam General Insurance Ghana, stated that the product was crafted with convenience and suitability in mind, crucial
for small businesses seeking efficient solutions for security. The goal is to build generational businesses that are secure, confident, and prosperous. She emphasized that insurance should prevent businesses from failing due to mishaps and risk factors.

Mr. Stephen Kwarteng Yeboah, MD of Olea M and G, highlighted the alarming statistic that 60 percent of new SMEs fail within six years due to the lack of security measures like insurance. He stressed that the Business Guard product is designed to empower and protect Ghana’s SMEs, thus ensuring their continued contribution to the Ghanaian economy.

Accra: Small and Medium Enterprises (SMEs) in Ghana are set to receive a significant boost with the introduction of the Business Guard Insurance by Sanlam Allianz General Insurance, in partnership with Olea M and G Insurance Brokers. Madam Esther Armah, Head of Reinsurance and AML at the National Insurance Commission, praised this initiative during its launch in Accra, highlighting the potential benefits for SMEs in managing risks and fostering growth.

According to Ghana News Agency, the Business Guard SMS Insurance provides comprehensive coverage for assets, money, premises, employee dishonesty, and group life insurance, tailored to the needs of SMEs. Madam Armah emphasized the vital role of the insurance sector in providing security and confidence for businesses, regardless of their size or complexity. She noted that making insurance accessible to SMEs could substantially impact their operations by managing uncertainties effectively.

Madam Armah pointed out the importance of the Business Guard as a timely
response to the needs of SMEs, offering focused protection and accessibility across the country. She stressed that the insurance industry’s commitment is reflected through initiatives like this, aimed at empowering Ghanaian businesses with solutions that support growth and resilience. Furthermore, she acknowledged the challenges of low insurance penetration in Ghana, which remains below two percent, and called for increased education on insurance benefits to enhance access among SMEs.

The National Insurance Commission, as a regulator, is devoted to supporting initiatives that address market needs and fostering an environment conducive to the success of products like Business Guard. The partnership between Sanlam Allianz General Insurance and Olea M and G is expected to advance financial inclusion and deepen the value of insurance for Ghanaian businesses.

Mabel Nana Nyarkoa Porbley, MD/CEO of Sanlam General Insurance Ghana, stated that the product was crafted with convenience and suitability in mind, crucial
for small businesses seeking efficient solutions for security. The goal is to build generational businesses that are secure, confident, and prosperous. She emphasized that insurance should prevent businesses from failing due to mishaps and risk factors.

Mr. Stephen Kwarteng Yeboah, MD of Olea M and G, highlighted the alarming statistic that 60 percent of new SMEs fail within six years due to the lack of security measures like insurance. He stressed that the Business Guard product is designed to empower and protect Ghana’s SMEs, thus ensuring their continued contribution to the Ghanaian economy.