
Advans Ghana, partners provide GH¢8.5m relief to Kantamanto traders
THREE financial institutions have paid GH¢ 8.5 million to 227 Small and Medium Enterprise (SME) owners affected by the Kantamanto fire outbreak.
They are Advans Ghana, Turaco Inclusive Ghana (T/A Turaco) and Enterprise Insurance Ltd.
The timely gesture has helped traders to clear their outstanding loans, while providing capital to rebuild their businesses during this challenging period.
The January 2 fire at the Kantamanto Market claimed one life, injured 14 people and left over 30,000 traders affected, with more than 7,000 shops reduced to ashes.
Speaking to the media after a short presentation in Accra, the Chief Executive Officer (CEO) of Advans Ghana, Guillaume Valence, said the payments were critical in giving their customers the peace of mind and the needed financial relief in such a difficult time.
He said, “At the core of our mission is the understanding that when we support traders and small businesses, we are supporting the entire economy of Ghana."
“At Advans, we are intentional about embedding insurance into our services so our customers are protected in moments like these.
Our partnership with Turaco and Enterprise Insurance is part of that proactive approach to safeguarding livelihoods and this payout demonstrates the power of building financial resilience in advance,” he said.
Promoting insurance
The Deputy Commissioner for the National Insurance Commission (NIC), Bernard Ohemeng-Baah, said the commission was focused on promoting insurance for underserved communities.
He said the support provided to victims of the January fire outbreak in Kantamanto demonstrates that insurance works and plays a key role in helping affected individuals recover and rebuild their businesses.
He urged the partners to expand their coverage beyond the 227 individuals supported so far to enable a greater number of people to have access to the benefits of insurance in future occurrences.
For her part, the General Manager for Turaco Ghana, Leona Lilian Abban, explained that micro insurance was a customer-centric service that made it possible for the most vulnerable people to access financial protection when they needed it most.
This is evident in our partnership with Advans Ghana and Enterprise Insurance, where insurance is embedded directly into financial services.
Together, we have insured over 200,000 customers across Ghana, helping them bounce back from life’s unexpected shocks. The Kantamanto response shows that strategic partnerships and seamless delivery can turn risk into resilience,” she said.