Advans Ghana Supports Kantamanto Traders with Over GHS 8.5M in Insurance Claims and Loans

In the aftermath of the devastating fire that engulfed the Kantamanto Market on January 2, 2025, Advans Ghana Savings and Loans has reaffirmed its commitment to supporting micro, small, and medium-sized enterprises (MSMEs) by disbursing over GHS 8.5 million in insurance claims to 227 affected clients.

To further assist in the rebuilding of businesses and livelihoods, Advans Ghana granted restart loans worth GHS 2.5 million to nearly 60 traders, helping them to restock and resume operations. This vital support was made possible through a collaborative partnership with Turaco Insurance and Enterprise Insurance.

Recognizing the need for broader community rebuilding, Advans Ghana also donated GHS 20,000 to the Kantamanto Union to assist with the reconstruction of infrastructure and restoration of trading spaces. The gesture underlines Advans Ghana’s long-standing commitment to inclusive finance and social impact.

Speaking during the engagement, Mr. Guillaume Valence, CEO of Advans Ghana, stated, “These payments provide peace of mind and financial breathing space. Our mission has always been to support Ghana’s small businesses—not just in recovery, but in building resilience.”

He added that rebuilding is not simply about replacing what was lost, but about creating the conditions for stronger, more sustainable growth.

Mr. Bernard Ohemeng-Baah, Deputy Commissioner of the National Insurance Commission (NIC), commended the initiative, stating, “The support offered shows that insurance can be a vital recovery tool for underserved communities. It proves the value of accessible insurance in times of crisis.”

He called for broader insurance coverage, noting that the NIC pays out around GHS 7 million daily in claims nationwide and is working to improve insurance penetration for informal and underserved segments.

Madam Leona Lillian Abban, General Manager of Turaco Ghana, emphasized the impact of embedded micro-insurance in Advans’ loan products, describing it as a “lifeline for livelihoods.” She highlighted that funds were quickly disbursed and directly placed into traders’ hands to accelerate recovery.

This initiative serves as a benchmark for how inclusive financial services and collaborative partnerships can empower vulnerable communities during times of crisis and recovery.