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Takaful: Africa has huge potential, but also challenges

Posted on 21 February 2013

Takaful prospects for the African market has huge potential but also posed challenges which must be faced and met by the takaful industry if it is to get a foothold on the continent. Some of the challenges included the lack of public awareness about the takaful industry, as well as the lack of available financial infrastructure necessary for the industry to truly kick off in Africa.
Managing Director of Africa Retakaful Omar Gouda said that the industry needs to provide solutions through a variety of means that people trust and understand. “The products that we are supplying, the distribution channels we are employing, and the rules and regulations we adhere to, must all be understood clearly by everyone,” he said………………………………….Full Article: Source

 
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