Ghana Post, Star Microinsurance launch ‘abusua nkyemfa’

The Minister of Communications, Haruna Iddrisu, has stated that with the advent of new and emerging technologies, the stage has now been set for Ghana Post to take advantage of the numerous opportunities to re-assess itself as a major player and promoter of economic development of the country.

The Minister said this in an address read on his behalf by Mrs. Charlotte Morgan-Asiedu, Director of Human Resource and Development of the Ministry of Communication at the official launch of a partnership dubbed "Abusua Nkyemfa" between Ghana Post and Star Microinsurance Services on Friday, at the head-office of Ghana Post in Accra.

"Strategic partnerships focus on developing external relationship that will lead to new business development, and being collaborative will bring an instant competitive advantage for businesses to expand into new markets. The ministry will provide necessary support that will upgrade Ghana Post to the level of an effective development tool for rendering services to the entire populace," the Minister added.

The Managing Director of Ghana Post, Mr. Abdulai Rafui, said: "In the last couple of years, Ghana Post has been making strategic moves in transforming the fortunes of the company in the face of stiff competition and the introduction of technology into postal operations. One of such moves is the forming of partnerships and alliances to move our business forward.

“It is under this score that Ghana Post is collaborating with Star Microinsurance Company for the provision of microinsurance products to the low-income group of our society. As part of the agreement, Ghana Post is to provide counter-space and a supervisor at selected post-offices to sell insurance policies to Star Microinsurance clients while Star Microinsurance will have the primary responsibility for policy administration."

On her part, the Executive Director of Star Microinsurance Afua Boahemaa Donkor said: "Microinsurance is insurance that caters to the needs of the informal sector. Unlike the traditional insurance, Microinsurance provides affordable premiums, which are collected more frequently and distributed through a variety of channels that are accessible to the informal sector.

"Today, we are here to launch a New Partnership between Ghana Post and Star Microinsurance Services Ltd. For us to enter into a partnership, we look out for certain qualities:

1. Infrastructural reach of the proposed partner

2. Availability of a good payment platform

3. And their Operational ability

Star Microinsurance recognised all these three essential qualities in Ghana Post. Ghana Post has about 350 offices across the country and 300 agencies, creating a massive network. They have a unique payment platform, the cash-post, which reaches across the country. They have also partnered with other organizations, making their experience in working with other third-parties a rich one," the Executive Director added.

The short but impressive ceremony was chaired by Mr. Oppong Yeboah, Executive Vice Chairman of Star Life Assurance. In attendance were Mr. George Addison, Managing Director of Star Life Assurance; Mr. Nicholas N.Y. Dery, Director-Postal Policy of the Ministry of Communications; and other high-profile officials from the two organisations and business partners.