Insurance must be mandatory to cushion traders – Subin MP

The Member of Parliament for Subin, Kofi Obiri Yeboah has called on the government for a mandatory insurance policy for traders to safeguard their livelihoods in the wake of unforeseen circumstances such as fire outbreaks.

A massive fire outbreak at Adum in the Central Business District of Kumasi on Friday, March 21, left nine persons injured with many shops and properties destroyed.

In a statement on the floor of Parliament on Monday, March 24, the Subin MP called on the government and international organisations to help alleviate the plight of the affected traders.

“I urge the government to introduce conscious policies that will support the informal sector to assess insurance packages. This will ensure that in the event of such unforeseen disasters, our traders and businesses have adequate opportunities to bounce back on their feet.

“Insurance can no longer be seen as loss-making, it must be made a necessity to safeguard the livelihoods of our traders and sustain our local economy.”