LeapFrog select Ghana as one of their priority countries by announcing $25 million of investment
Modern Ghana, 29 March 2010
LeapFrog Investments has selected Ghana as one of three priority countries on the continent, meaning that ultimately up to $25 million could be invested in local Ghanian companies.
LeapFrog Principal Doug Lacey, explains: “We see significant potential in the Ghanaian market particularly given the rapid growth of the insurance industry since it was privatised, and the strong demand and need among the majority of the population – who are still underserved by insurance products. The Commissioner of Insurance has on many occasions stressed the importance of promoting and developing microinsurance, and we see genuine openness to foreign investment. LeapFrog will invest to help Ghanaian insurance companies to grow and help the Ghanaian people to achieve greater financial inclusion and security.”
“Millions of people in Ghana still do not have access to affordable and relevant financial services. With this latest capital injection to the fund, we look forward to partnering with local companies and insurers, bringing to bear substantial capital and global best practice to ensure microinsurance is delivered with commercial success and profound social impact in Ghana.” adds Lacey.
In addition to Ghana, Leapfrog's priority countries for investment include Kenya, South Africa, India, and the Philippines.
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