Government says it will support legislation meant to support the insurance sector in Zambia.
Local government Minister Vincent Mwale says this is aimed at boosting the insurance sector which he said has remained slow in the country.
Mr Mwale bemoaned the low levels of insurance use in Zambia , saying it is only becomes a necessity only in times of calamity.
ZANIS reports that Mr Mwale was speaking at new Soweto Market in Lusaka yesterday during the launch of Tontozo, an insurance life cover for marketeers and small scale farmers initiated by the Zambia National Marketeers and Credit Association (ZANAMACA), Liberty Life Insurance and Uniturtle Industries.
The Minister cited the loss uninsured marketeers suffer whenever infernos are recorded at trading places that makes it difficult for them to restart their businesses.
Mr Mwale, who was represented by Justice Minister Given Lubinda said government is committed in supporting entrepreneurship and welcomes all initiatives meant to help improve the welfare of marketeers.
In its quest to help traders to development their businesses, government has come up with programmes such as the Presidential marketeers initiative and the construction of shelters on high way roadside markets among others.
Mr Mwale observed that government’s concern for marketeers springs from the fact that many Zambian families depend on income from markets for their livelihoods and personal development.
He urged marketeers to take up the life insurance cover to enable them continue with their normal business when faced with circumstances that require expenses such as funerals.
The minister has urged other insurance companies to extend insurance services to marketeers across the country.
At the same event, (ZANAMACA) President Mupila Kameya said the Tontozo insurance Scheme will help many people in the informal sector to meet funeral expenses each time they have a bereavement.
Mr Kameya appealed to all market committees in the country to encourage traders and small scale farmers to take up life insurance.
The Tontozo funeral cover whose monthly premier is K24 includes eight members of the family caters for coffin, funeral logistics and cash for incidentals the bereaved.