n Management Today - Microinsurance : a new concept in South Africa




In South Africa, many people still perceive microinsurance as a new concept. Some refer to the concept of microinsurance as a new financial service within microfinance. The concept of microfinance has been a topic of keeping interest before microinsurance. An important milestone in the growth of awareness for microfinance was the granting of the Nobel Peace Prize to Muhammad Yunus in 2006 for granting small loans to low-income people. The concept of Microinsurance entered the market much later than microloans and became a prominent topic of discussion recently in South Africa.


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