The National Insurance Commission, NAICOM, and Star Sapphire have taken to sensitization programme for Micro, Small and Medium Enterprises (MSMEs) start-ups in Kano state on it proposed Micro Insurance and ‘Takaful’, the Islamic version.
The two-day workshop, which had as its theme: ‘National Workshop on Micro Insurance and Takaful’, was organized as a collaboration between the two organizations.
Commissioner for Insurance Mr. O.S Thomas, NAICOM declared the event open, during which he noted that MSMEs were important to employment and economic growth of Nigeria, contributing 48 per cent of national Gross Domestic Product (GDP) 96, per cent of businesses and 84 per cent of employment.
He said that Nigeria has over 37.7 million MSMEs, according to the Ministry of Industry, Trade and Investment, and that for this reason, they could not simply be ignored, especially at a time when the government is looking for ways to address the twin problems of poverty and unemployment.
Also speaking, the Head of Micro Insurance unit of NAICOM, Hajiya Aisha Bashir said the main objective of the workshop was to enlighten start-ups on the need to have Micro Insurance.