Impact focus and investment
The company places a strong emphasis on making a positive impact across various domains. One notable endeavor was its acquisition of a 56% stake in ACRE Africa in 2020, an initiative that provides agricultural micro-insurance solutions to safeguard smallholder farmers against climate change and extreme weather risks. Additionally, the DRIVE Project (De-Risking, Inclusion and Value Enhancement of Pastoral Communities in the Horn of Africa) stands as another significant undertaking.
This project aims to mitigate risks within pastoral systems by offering a comprehensive suite of financial services, including drought index insurance, savings, digital accounts, and financial education. It also focuses on de-risking private sector investments in value chains to ensure stable markets for pastoralists.
The company has made noteworthy investments in technology, including a 20% stake in Medbook, a digital healthcare platform enabling seamless access to medical services. Another tech-focused venture is IMS, which specializes in cutting-edge risk management solutions and data analytics. ZEP-RE has also actively supported the establishment of national reinsurance companies, such as TANRE and Uganda Re, fostering the growth and development of the reinsurance sector in these respective countries.
In 2022, ZEP-RE partnered with Westerwelle to successfully launch its inaugural Insurtech incubation program in Kigali, Rwanda. This program supported insurance startups, encouraging innovation and the creation of digital solutions. The program culminated in a groundbreaking hackathon, marking a significant milestone for Rwanda and showcasing the potential for digital transformation in the insurance industry. Other notable initiatives include the establishment of the ZEP-RE Academy in 2016, offering capacity-building programs for insurance and reinsurance professionals in Africa, as well as the creation of a dedicated Environmental, Social, and Governance (ESG) department in 2021, underscoring the company’s commitment to sustainability and responsible business practices. The publication of its first impact report in 2022 further demonstrates ZEP-RE’s dedication to transparency and accountability in driving positive change.