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TEF gives beneficiaries insurance cover

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Heirs Insurance Limited, HIL, and Heirs Life Assurance (HLA) have through the Tony Elumelu Foundation, given the TEF beneficiaries insurance cover.

According to the company, targeted at reducing business risks, the bundled insurance package comprises elements that will protect business owners against risks concerning the loss of property and lives, while providing financial security in times of uncertainties.

Also, the company noted that the insurance intervention addresses the fear of loss caused by a post-Covid-19 economy while further demonstrating the mission of the Foundation to empower African entrepreneurs and catalyze the continent’s economic development.

Speaking on the importance of the partnership, the Director, Partnership and Communications, TEF, Somachi Chris-Asoluka, stated that events of the past year have triggered the need to educate entrepreneurs on the importance of risk alleviation to ensure their survival.

He said: “Our core mandate is to empower African entrepreneurs across all 54 African countries with training, funding, mentorship and other valuable resources that will enable them successfully operate their businesses in order to create socio-economic hope for the continent.

“We have funded nearly 16,000 entrepreneurs and trained hundreds of thousands of young entrepreneurs across the continent. As economies look to recover from the effects of the pandemic, there is no better time to launch this intervention with Heirs Insurance and Heirs Life, which is focused on small business owners from the TEF Alumni network.

“With these unique product offerings, entrepreneurs in Nigeria can further mitigate the impact of external factors on their operations, protect their investments and secure their finances. At the Tony Elumelu Foundation, we believe that entrepreneurs are the engines of economic growth and prioritizing their welfare and businesses will drive significant growth and employment opportunities.”

Chief Marketing Officer, Heirs Insurance and Heirs Life, Ifesinachi Okpagu, described the partnership as timely and of immense value to all the entrepreneurs. According to her, both companies place entrepreneurs on a pedestal because of the critical role they play in the development of the country’s economy.

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