Casava Gets $4m Pre-Seed to Make Insurance Affordable and Accessible to Nigerians

African countries are yet to catch up with social security and safety programs commonly used in the West, where the government provides health insurance and unemployment benefits to citizens.

The general perception of insurance on the continent has been bland for years, and its penetration rate, except South Africa, is subpar. Per a McKinsey study in 2018, Africa's insurance market stood at a 3% penetration rate; with South Africa excluded, it was 1.12%.