MICROCAPITAL BRIEF: Appui au Developpement Autonome, BSB, Confederation des Institutions Financieres Partner on Microinsurance in West Africa

Appui au Developpement Autonome (ADA), a Luxembourg-based nonprofit organisation, recently partnered with Confédération des Institutions Financières (CIF), a Burkina-Faso-based association of six West African savings cooperatives, to implement microinsurance projects across five countries in West Africa. The project will be supported by BSB, a Belgian-based business and technology service provider whose insurance policy software, Solife, will be used by CIF members to develop microinsurance products targeted at low-income families.
Reseau des Caisses Populaires du Burkina Faso (RCPB), a cooperative based in Ouagadougou, will be the first to roll out the Solife software under the scheme, with implementation expected to commence before the end of 2012. The software will also be introduced to four additional CIF members in Benin, Mali, Senegal and Togo. Eventually, CIF Plans to offer insurance products to its entire client base, which encompasses about 1.6 million people.

By Chioma Okwudiafor, Research Associate

About Appui au Développement Autonome (ADA)
Founded in 1994, Appui au Développement Autonome (ADA) is a nonprofit organization based in Luxembourg. ADA’s activities include developing new financial products, assisting in the capacity building of microfinance institutions (MFIs) and improving information on and awareness of microfinance activities. As of December 31, 2009, ADA reported total assets of EUR 3.7 million (USD 5.4 million). Newer financial data on ADA is not available as of 2012. ADA works with 25 microfinance institutions in Africa, Asia and South America.

About BSB
BSB is a provider of business solutions and information technology services for insurers, bankers, portfolio managers, holding companies, financial advisors and investment funds. BSB commenced operations in 1995, employs 350 people and has its headquarters in Belgium. It also has offices in France, Ireland, Luxembourg, the Netherlands, Switzerland and the United Kingdom. Its core products are Solife for life insurance administration and Soliam for institutional asset management and private-client wealth management.

About Confédération des Institutions Financières (CIF)
Confederation des Institutions Financieres (CIF) is a regional association encompassing six financial cooperatives offering savings products in West Africa: The Federation of the Saving and Banks and Mutual Farm Credit Banks of Benin (FECECAM), Reseau des Caisses Populaires du Burkina Faso (RCPB) in Burkina Faso, The Union of the Saving and Credit Mutual Banks of Mali (Kafo Jiginew), The Network of the Savings Banks of Mali (NYESIGISO), The Partnership for the Mobilization of Savings and Credit in Senegal (Pamecas) and The Central Savings and Credit Cooperative Units of Togo (Fucec). It has its headquarters in Ouagadougou ,Burkina Faso.

Sources and Additional Resources:

Investment Europe Story: IEPlus: Luxembourg aid project and tech firm back Africa microfinance
http://www.investmenteurope.net/investment-europe/news/2207269/ieplus-luxembourg-aid-project-and-tech-firm-back-africa-microfinance

MicroCapital Universe Profile: Appui au Développement Autonome (ADA)
https://www.microcapital.org/microfinanceuniverse/tikiindex.php?page=Appui+au+D%C3%A9veloppement+Autonome+%28ADA%29

MicroCapital Story: December 22, 2009, MICROCAPITAL BRIEF: KNOW A MICROFINANCE FUND: Luxembourg Microbanking Intermediary Scheme Appui au Developpement Autonome (Luxmint ADA), Microcred Group, MicroCredit Enterprises, CRS CORDAID Microfinance Alliance Fund
https://www.microcapital.org/know-a-microfinance-fund-luxembourg-microbanking-intermediary-scheme-appui-au-developpement-autonome-luxmint-ada-microcred-group-microcredit-enterprises-crs-cordaid-microfinance-alliance-fund/

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