The Cross River State Microfinance and Enterprise Development Agency (CRSMEDA) has initiated a preliminary review of leading insurance firms across the state to strengthen safety nets for Micro, Small, and Medium Enterprises (MSMEs). This strategic safeguard follows a recent devastating fire incident that destroyed several local businesses, resulting in severe financial losses and hardship.
Speaking on the initiative, the Director-General and Chief Executive Officer of CRSMEDA, Great Ogban, emphasized that the evaluation is part of a broader commitment by the state government to mitigate risks from unforeseen disasters and guarantee financial resilience for small business owners.
Great Ogban affirmed that eligible small businesses will be enrolled into selected insurance programs at zero cost to the owners. He noted that the ongoing screening aims to identify underwriters offering the most MSME-friendly policies, comprehensive coverage, and robust security guarantees.
The insurance companies being evaluated are Fortis Global Insurance (FGI) led by Anthonette Odey, Unit Manager; Leadway Assurance led by John Orisa, Branch Manager; AXA Mansard led by Ubong Edet, Business Development Lead; and International Energy Insurance (IEI) Plc, led by Grace Ikpa, Head, Business Development, Cross River State
