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African Development Bank grants $510,000 to ACAPS to expand insurance access in Morocco
via Le Matin1 min read
The African Development Bank has approved a $510,000 grant for the Insurance and Social Welfare Supervisory Authority ACAPS to support financial inclusion in Morocco's insurance sector. This funding, provided through the Africa Digital Financial Inclusion Facility, aims to promote the use of innovative technologies and improve access to insurance services, particularly for vulnerable populations. ACAPS will contribute an additional $170,000 to the project's implementation. The initiative seeks to develop solutions tailored for women and youth by enhancing the accessibility and clarity of insurance products. The program also includes technical and methodological support to facilitate the integration of InsurTech solutions into the market. It aims to remove barriers related to access, understanding, and use of insurance products, while assisting operators in adapting to sector changes. This intervention aligns with the national financial inclusion strategy, intending to strengthen the economic protection of targeted populations, broaden insurance offerings, and support the emergence of new distribution channels, with regulatory adaptation to innovation. The African Development Bank's office in Morocco stated that this support is part of efforts to promote digital innovation and financial inclusion. ACAPS highlighted that this partnership continues its actions to develop more inclusive insurance and strengthen access to services. The African Development Bank, present in Morocco
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