Betting on Africa

Afrexinsure chairman K.C. Li: We’re on a journey to de-risk investments in Africa

By Jonas Nyabor

Premium badge Reserved for subscribers

Posted on June 23, 2023 09:52

 © Afreximbank (photo: Afreximbank)
Afreximbank (photo: Afreximbank)

By providing innovative insurance coverage that hedges against investment risks on the continent, Afrexinsure will boost trade and infrastructure development across Africa, the chairman of the newly launched Afreximbank subsidiary tells The Africa Report in an exclusive interview.

Afrexinsure, otherwise known as the Afreximbank Insurance Management Company, will capitalise on the Afreximbank group’s extensive knowledge of the continent to develop “tailor-made insurance solutions” for projects on the continent, Kee Chong Li Kwong Wing said at the commercial launch of the new business on the sidelines of Afreximbank’s 2023 annual meeting in Accra.

Headquartered in Mauritius, AfrexInsure was birthed in 2021 as a wholly owned subsidiary of Afreximbank, a pan-African multilateral financial institution created in 1993 under the auspices of the African Development Bank.

It issued its first policy this March, providing cover to Oman Shapoorji Company, which is building Afreximbank’s Africa Trade Centre in Harare, Zimbabwe.

More projects are coming up and the future is very promising,” says Li, a former chairman of SBM Holdings, the second-largest banking group in

There's more to this story

Get unlimited access to our exclusive journalism and features today. Our award-winning team of correspondents and editors report from over 54 African countries, from Cape Town to Cairo, from Abidjan to Abuja to Addis Ababa. Africa. Unlocked.

Subscribe Now

cancel anytime