Ecobank Partners with Activa to Launch Affordable Life Care Insurance in Sierra Leone

By Ishmael Sallieu Koroma

FREETOWN — In a move to boost access to affordable insurance in Sierra Leone, Ecobank has partnered with Activa International Insurance to roll out the Ecobank Life Care Accident Insurance Policy. The official signing took place on Thursday, April 3rd, at Ecobank’s headquarters on Lightfoot Boston Street in Freetown.

The new policy offers 24-hour coverage to Ecobank account holders and prospective customers, providing financial protection in cases of fatal accidents, permanent or temporary disability, and medical expenses — all for just NLe 35 per month.

Kate Thompson, Head of Consumer Banking at Ecobank Sierra Leone, explained that the partnership follows the bank’s introduction of its bancassurance service in August 2024.

“We are here today to sign another partnership with an insurance company that has over 20 years’ experience and operates in nine countries, including Sierra Leone,” Thompson said.

“This product was specifically designed to meet the needs of our customers—affordable premiums, a simple claims process, and coverage especially beneficial to women and children.”

She added that the Ecobank Life Care Insurance bouquet was created based on customer feedback.

“We listened to what our customers wanted and worked with Activa to make it happen. A product that’s relevant, accessible, and gives peace of mind.”

Thompson urged customers to take advantage of the opportunity.
“For just NLe 35 a month, you can protect yourself and your loved ones from the financial shocks of accidents.”

Ecobank Sierra Leone’s Managing Director, Sebastian Ashong-Katai, described the launch as a bold step in the bank’s mission to provide holistic financial solutions.

“At Ecobank, banking is more than just transactions and numbers. It’s about people, families, and communities,” he stated.

“With this insurance product, our customers can be assured that they won’t face the financial burden of an accident alone.”
He emphasized that the insurance product reflects a customer-first approach.

“We designed this with our customers in mind, ensuring the product is integrated seamlessly with our financial services, accessible anytime, anywhere.”

Activa International Insurance Sierra Leone CEO, Festus Awuah, hailed the partnership as a milestone in expanding insurance accessibility.

“Through this bancassurance agreement and the introduction of our Life Care Program, we’re taking a major step toward providing financial security and peace of mind to more people,” Awuah said.
He stressed the need to improve insurance coverage in the country.

“This collaboration helps address the low insurance penetration in Sierra Leone. By using Ecobank’s extensive network, we’re reaching populations who previously found insurance unaffordable or inaccessible.”

Awuah called the partnership a model for customer-centric financial services in the country.
“We believe this sets a new standard for how insurance and banking can work together to serve communities.”

Yayah Kalokoh, a representative of the Sierra Leone Insurance Commission (SLICOM), commended the initiative, describing Ecobank as the first commercial bank in the country to launch such a scheme.

“Bancassurance increases accessibility and convenience for customers. We trust both institutions to implement this successfully and improve financial resilience for Sierra Leoneans,” he said.

Abubakar Trye, Retail and Business Development Manager at Activa, emphasized the real-world value of the product.
“Accidents are unpredictable. With this policy, customers have the assurance that they’ll be supported during their most difficult moments. Our goal is to ensure both financial security and peace of mind.”

The Ecobank Life Care Accident Insurance Policy is now available across Ecobank branches, offering vital financial protection for individuals and families across Sierra Leone.