The Insurance Awareness Coordinators Group (IACG), led by its Chairman Mr. Wilson Tei, with support from the German Development Cooperation (GIZ), has officially launched the Micro and Small Business Clinics (MSBC) in Takoradi, the Western Regional capital. The initiative is designed to educate market traders and artisans in the Western and Western North Regions on the importance of insurance as a critical tool for risk mitigation.
According to Mr. Tei, the MSBC programme aims to enhance the financial security of small-scale business owners by improving their understanding of insurance. “This programme is crucial in raising awareness about insurance products and services, ultimately protecting livelihoods against unforeseen losses,” he said.
The MSBC is a collaborative effort involving key industry stakeholders, including the National Insurance Commission (NIC), the Ghana Insurers Association (GIA), the Insurance Brokers Association of Ghana (IBAG), and the National Association of Ghana Insurance Agents (NAGIA). The programme is expected to improve insurance penetration across the informal sector, where many micro and small businesses are currently underinsured.
The official launch began with a facilitator training session on April 9 at the GNAT Hall in Takoradi, led by Mr. Kyeame Ghansah, Head of Research at the NIC. Industry representatives also provided support and shared insights during the session. Mr. Prince Peter Quayson of the GIA emphasized the critical role that insurance plays in protecting the livelihoods of vulnerable businesses, particularly micro and small enterprises that are at risk of financial setbacks.
Focus Group Discussions (FGDs) are scheduled to take place from April 10 to 16, 2025, in several towns, including Takoradi, Axim, Tarkwa, Asankragua, Agona Nkwanta, Kwesimintsim, Wassa, Sehwi Bekwai, Bogoso, and Sefwi Wiawso.
Mr. Ghansah also reaffirmed that the IACG is the mandated body responsible for leading insurance awareness campaigns across the country. He noted that the MSBC aligns with the group’s broader goal of building resilience within the informal sector through education and advocacy. The MSBC initiative is expected to serve as a vital platform for bridging the knowledge gap on insurance, providing informal sector workers with the necessary tools to protect themselves from financial shocks.
