NIGERIA – Leadway Assurance, one of Nigeria’s largest insurance companies, has agreed to partner with Awabah Nigeria, a financial service company to bring financial services closer to the informal sector with a keen eye on further enhancing Nigeria’s financial inclusion goals.
Awabah Nigeria is a financial service company that is built to assist its audience take that big step in their lives and escape living paycheck to paycheck. To help its clients reach their desired financial goals, Awabah Nigeria says it aims at providing access to micro pensions and target savings products and using this as leverage to increase and build its clients’ wealth.
Awabah says it is a solution-driven entity and this has moved the company to seek partnerships with the Lagos State Employment Trust Fund and Riby (the Tech-based Financial solutions provider) to provide a plethora of strategies, to transform old and existing investments to practical and achievable products designed to deliver real value.
The ongoing worldwide pandemic has enlightened people on the need to be financially stable and successful, especially in a 3rd world country like Nigeria.
With a stretched economy and inflation at 13.22% in August 2020, there has been a surge in investments towards attaining financial security locally and internationally. This new normal has affected every industry in Nigeria.
Statistics show that in Nigerian universities, 5 out of 10 students drop out or defer their admission due to financial constraints, born of their parent’s inability to meet up financially.
In the entertainment industry, there are A-list and B-list artists who do not have the proper information to make legitimate financial investments and they quickly go broke after they stop being in demand.
Leadway was established in 1970 by Sir Hassan O. Odukale and commenced business in 1971 which started out as a direct motor insurer. It expanded into other areas of general business until it became a composite company underwriting both life and general insurance business.
The company’s financial capacity grew over time and can now underwrite risks of very high magnitude as regards heavy industries, such as Oil and Gas and big manufacturing concerns. It also offers subsidiary financial services like Bond, Secured Credit, Miscellaneous financial losses and Fund/Portfolio management.