The Insurance Institute of Uganda has asked proprietors of microfinance institutions operating in the country to insure their respective companies against emerging risks.
The Chief Executive Officer of the Institute Elvis Khisa says currently financial institutions are facing various challenges which call for protection.
He adds that this will stimulate development of the country’s insurance sector.
He advises insurance companies to design affordable products which will address the demands of small scale enterprises in Uganda.
He says also to be targeted are farmers and village cooperatives among others, saying this will help raise the uptake levels.