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KWFT introduces Last Expense Assurance product
KWFT has introduced a last expenses assurance product, Kinga ya Jamii, for its clients. Kinga ya Jamii will enable the medium and low-income women to access life insurance products, which
are currently beyond their means. With as little as one shilling a day or Sh30 a month one can
take a cover with a benefit of Sh30,000. In addition, a client can cover her family members. To
make this possible KWFT has joined hands with Pan Africa Insurance, AAR Credit and Macly
Insurance Brokers. The cover has no medical examination requirement or HIV exclusion.
The Kinga ya Jamii Assurance Policy benefits are payable after the death of the policyholder
or her covered family members. According to Rosemary Kantai, KWFT General Manager -
Operations, “ We are committed to offer our clients a wider range of products which will not only
improve their livelihood but also make KWFT a bank of their choice.”
KWFT Members to benefit from Shell Foundation's Breathing Space Fund
KWFT members will over the next five years benefit from cleaner domestic energy technologies supplied and installed under a Shell Foundation Breathing Space Fund for Kenya. The overall purpose of the Fund is to improve the health and socioeconomic status of poor households by increasing access to, and use of, the improved domestic energy products and services that reduce indoor air pollution. These include LPG or cooking gas, biogas digesters, solar lighting and heating systems, improved cook stoves, solar cookers, fireless cookers and other renewable and efficient energy products.
The Fund seeks to create an innovative and commercially viable model for provision of finance by banks and micro finance institutions to small energy enterprises and consumers in Kenya. A bank which is yet to be identified, will co-finance and act as the custodian for the Breathing Space Fund. KWFT will access the facility and on-lend funds to its membership for implementation of domestic energy schemes. This will comprise loans to members to purchase and install cleaner energy technologies. KWFT has already started the process of linking women entrepreneurs with LPG companies. It recently held a workshop with women from Nakuru town to educate them on business opportunities in the sale of LPG gas.
About 80% of Kenya’s population, mostly in the rural areas, depends on biomass for domestic energy needs. Use of low-grade biomass fuels and open fires in poorly designed kitchens leads to extremely high levels of indoor air pollution. Exposure to indoor air pollution, from the combustion of biomass and kerosene, has been identified as a causal agent of acute respiratory infections (ARI) and eye infection, which account for over 10% of the total burden of disease in developing countries. Acute lower respiratory infections are a leading cause of death from infectious diseases.
The Breathing Space Fund is being coordinated by IT Power Ltd, a leading international consultancy firm in renewable energy and climate change. |
