The National Insurance VimoSEWA Cooperative Ltd, promoted by the Self-Employed Women's Association, (SEWA), is assisting the government of Namibia, southern Africa to set up microfinance in .
The Namibian government's financial services authority, NAMFISA, and FIDES Bank, a microfinance institution, had invited VimoSEWA in this regard. "Namibia is already providing NAM $ 450 per month (Rs. 2700) pension to its elderly citizens. NAM $ 200 (Rs. 1200) per month to all its disabled citizens. But there was no microinsurance in the country and our role was to share our 18 years of global and Indian experience in reaching out with microfinance. The Namibian government is encouraging banks and financial institutions to provide microinsurance and the process is on to set up microinsurance in the country," Mirai Chatterjee, chairperson, VimoSewa and director, SEWA Social Security, said during a press conference in Ahmedabad.
Besides, VimoSEWA has also been invited by the West Bengal government to initiate microinsurance with the self help groups (SHGs) in the state. "The West Bengal government has invited us to talk about microinsurance to the SHG there. Also, we are planning an intensive insurance education campaign for the low income market soon. We are also looking at reaching out to more NGOs and state governments with microinsurance," Chatterjee said.
India's first insurance co-operative owned and run by women workers in the informal economy expects to sell policies worth Rs 1.56 crore in 2010.
