AFRICA Reinsurance Corporation, Africa Re, has launched its stand-alone firm to take care of its corporate social responsibility. Called Africa Re, the foundation is to commence operation in January 2019.
The foundation is to ensure that all its stakeholders around the continent are fairly represented in the comity of countries.
Speaking at the first meeting of the council, the Group Managing Director of Africa Re, Mr. Corneille Karekezi attributed the corporation’s commitment to strong confidence that the council members will deliver on its mandate. “We have expanded our CSR which will be launched in Mauritius.
Before we used to manage the CSR internally but now it will be a foundation and that foundation will be separate from Africa Re with the council of members who will be driving it. “As part of its activities, Africa Re foundation will provide grants for capacity development and risk management solution in member countries; raise awareness on major risk; support innovation and research in insurance, risk prevention and protection; partner with academic institutions in member countries to develop risk mapping and modeling; support training and development of young insurance professionals in Africa.”
The Foundation, according to him, is to also contribute to the research and development of risk management scheme and development; promote excellence among the African insurance industry players and stakeholders; support any other initiative which contributes to the development of the African insurance industry.
By Favour Nnabugwu