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AKI takes part in the inaugural Chamas and SACCOs investment summit

The inaugural Chamas and SACCOs investment summit was held on 30th and 31st May 2016. The Summit, organised by AITEC Africa, brought together over 370 participants from various chamas, SACCOs and other such groups with the aim of sharing information on other non-traditional ways of diversifying their investment portfolios. Currently, most Chamas and SACCOs specialise in saving money in the bank and purchasing land.

Themed, ‘Unlocking the economic power of investment groups’ the Summit was organised into plenary sessions and workshops focusing on various topics. There was also an exhibition area where several organizations showcased their products and services. Four AKI Members, Jubilee, Liberty Life, Resolution and Pioneer Assurance took part in the exhibition.

AKI took part in the first panel session dubbed ‘Assessing the role of Diversity in Investment Portfolios’. AKI Executive Director, Mr Tom Gichuhi, challenged participants to leverage on insurance to invest, protect their investments, and at the same time enhance the welfare of their members. In particular, he pointed out various products that chamas and SACCOs can take advantage of including unit trusts for investments, Group medical insurance, group life and last expense covers, as well as credit life for protection from defaulters. In addition, he also pointed out that SACCOS and Chamas could also sell other insurance products on behalf of insurance companies. They would act not as agents but as aggregators given their access to large numbers of people. The Chamas and SACCOs would then earn a commission on the insurance covers they have sold therefore generating another income stream.

Published

April 20th, 2021

Author

AKI Admin

Keywords

insurance

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