African startups need more than just funds from their investors

At a business breakfast last week, FSD Africa and the Financial Sector Conduct Authority issued a call to action to commit to the Nairobi Declaration on Sustainable Insurance as a first step toward creating a sustainable insurance industry and building resilience for the continent.

The Financial Sector Conduct Authority (FSCA) plans to host stakeholder engagements and public workshops with the aim of releasing a Final Sustainable Finance Roadmap during the course of this year. It is estimated that South Africa holds 70% of the African insurance industry’s market premiums.

Formally launched in April 2021, the Nairobi Declaration on Sustainable Insurance (NDSI) is a declaration of commitment by African insurance industry leaders to support the achievement of the UN Sustainable Development Goals (SDGs).

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