Browsing: European Microfinance Award

Campaign seeking to boost numbers

APA Insurance, Kenya has won $110,000 in the 10th European Microfinance Award in recognition for its response to “Strengthening Resilience to Climate Change”.

Speaking at a ceremony held at the European Investment Bank in Luxembourg, Apollo Group CEO Ashok Shah, of Kenya said that it is the poor in developing countries who feel the most impact of these climatic changes.

“Since 2006, Luxembourg Directorate for Development Cooperation and Humanitarian Affairs, the European Microfinance Platform and the Inclusive Finance Network Luxembourg have been awarding a EUR 100,000 (USD 110,000) prize to the winner and, starting two years ago, EUR 10,000 (USD 1,100) to the two finalists,” said APA Insurance in a statement.

This year’s winner, APA Insurance Ltd, is a Kenyan insurance company that provides index-based agriculture insurance to cover yields and livestock, thus providing farmers with a safety net. Index-based insurance is an innovative approach to insurance whereby payments are …