Prime Insurance Company has entered into a partnership with the Chamber of Small and Medium Business Association (CSMBA) so as to help entrepreneurs get insurance services with ease. The partnership was further deepened on Thursday when Prime Insurance sponsored the CMSBA Chamber at Lilongwe Hotel.
Speaking in an interview Business Development Manager for Prime Insurance, Beston Mhango and Marketing Officer, Charity Skeva said the partnership is crucial because SMRE’S are the ones who make the economy tick.
According to Skeva Prime Insurance has an SMRE policy which provides protection to assets belonging to small scale traders. “We are a wholly Malawian insurance company which has embarked on a new journey and we are confident that we are moving in the right direction. As a company we believe that SME’s are the drivers of the economy and there is a need to have their assets fully protected by having an affordable insurance cover,” said Skeva.
On his part Mhango urged SMRE’S to insure their equipment, premises as well as their household belongings because fire accidents, burglary and other accidents can happen anytime. Deputy Director for Enterprise and Cooperatives in the Ministry of Trade Industry and Tourism George Mwase hailed CSMBA and Prime for the partnership saying it will help deepen the culture of entrepreneurship. “As a government we welcome the launch of this chamber because it will advocate for the interests of SMRE’s. We will be very happy to see SME’s grow because they have been meeting various challenges,” he added.
Executive Secretary for CSMBA James Chiutsi said the new body has a secretariat and will work hard to make sure that the interests of SMRE’s are safeguarded. “The body will be holding trade fairs, to leverage on market exposure and will provide markets to SMRE’s within the general membership of the chamber itself. Our partnership with Prime Insurance is also crucial because we can help SMRE’s get insurance coverage,” he added.
Members of CSMBA include those in the leather, oils, legumes, general food processing, import and export, construction, services and supplies, metal and fabricating works, small scale miners, small scale machinery providers, tailors, agriculture and those in the tourism sectors.