Ghana Association of Microfinance Companies (GAMC) has signed an MOU with Star Microinsurance Services Limited to collaborate in providing its members and their clients with innovative microinsurance products.
With this collaboration, GAMC believes they are in a position to provide its members and clients opportunities for effective and efficient financial services.
In a statement, the Executive Secretary of GAMC, Mr. Richard Amaning indicated that GAMC believes that “if their members protect their business from risks such as death of borrower, destruction of clients’ property by fire, death of the spouse of a client; it will help the MFIs and their clients mitigate some of their risk which will in turn create a stronger ground for growth”.
The National Vice Chairperson of GAMC, Mr. Ekow Orleans Boham, also expressed his delight at the collaboration and looks forward that it will enable the two institutions develop more microinsurance products for their members and clients of the various MFIs.
The GAMC is an association of companies providing microfinance services under the tier two of Bank of Ghana categorization and has membership strength of 560 across all the ten Regions of Ghana.