About Us

African Financial Group (UK) Ltd (“AFG” “the Company”) is a new special purpose vehicle formed in London. The Company is developing a project that would put it at the heart of a new market focused on DRC (“the Project”).

The Project was initiated in London following the UK Africa Investment Summit held January 2020 hosted by PM Boris Johnson and attended by African leaders including the President of DRC Mr Felix Tshisekedi.

During the 2020 Summit, the opportunity to develop the insurance market in DRC was discussed with Company founders as part of a wider aim of developing socio-economic stability in the region.

The AFG core concept is to deliver parametric insurance in the DRC via mobile telephony.

Parametric insurance is particularly important for providing protection in developing markets against the challenges of climate related catastrophe and perils such as earthquake, flood. Rather than the traditional model that puts premium holders through a laborious and bureaucratic claims process, the parametric model is data driven and automated – and this in turn helps vulnerable people in emerging markets secure rapid claims processing and customer pay-outs.

Mobile telephony currently with a penetration level estimated at 60 million people in DRC, offers a low cost, simple way for insurance to reach the uninsured.
The aim of AFG is to participate with all key stakeholders in the DRC in order to expand the country’s insurance sector for the benefit of its citizens, its domestic economy and to attract foreign direct investment. AFG intends to partner with credible international insurers to develop a realistic commercial model for personal micro insurance products and for commercial insurance in DRC.

The AFG Company brings together knowledge of and access to the international insurance and reinsurance market with local knowledge in DRC. The Company has access in London to world class expertise in parametric insurance products ideally suited to the DRC conditions.
The concept of AFG is to open up the London market for reinsurance to DRC. This is potentially worth many billions to the DRC and the direct pay-outs will provide positive socio-economic impact in the communities.