Burkina-Faso: Airtel Launches an M-Health Insurance Service, Following Success in Ghana, Reveals New Report

Despite fresh investment in Burkina Faso’s telecom sector, new technologies have been slow to take hold. Delays in the development of a 3G service have hobbled the potential of broadband services. Nevertheless, the poor state of fixed-line networks have meant that in recent years the number of fixed-line subscribers has fallen steadily as customers migrate to the limited services available from the three mobile network operators. The fixed-line incumbent Onatel, majority-owned by Maroc Telecom, operates the country’s fixed-line network, a CDMA2000 wireless network, a fibre optic backbone and one of three GSM mobile networks, Telmob.

Mobile telephony has experienced strong growth since competition was introduced in 2000 by Celtel/Zain (now Bharti Airtel) and Telecel International (now Moov). Although market penetration remains below the African average, is continues to grow steadily, including a 30% growth in the number of subscribers in 2012 alone.

Onatel’s FasoNet is the country’s leading internet service provider, dominating the broadband market with its ADSL and EV-DO offerings. Penetration rates in this sector are still extremely low and services remain expensive despite some price cuts since 2011. Being landlocked, Burkina Faso for long depended on expensive satellite links for its international bandwidth, though in recent years connectivity has been facilitated by transit fibre links through neighbouring countries which have access to the region’s international fibre optic submarine cables: the four submarine cables which land in Ghana have reduced the cost of international bandwidth. A number of Burkina Faso’s other neighbouring countries also have access to multiple international cables. However, consumers and the country’s entire economy will only benefit from lower broadband prices if Onatel passes these cost savings on to them and also to other ISPs on the wholesale level.

The mobile operators have entered the underdeveloped internet sector by offering mobile data services using GPRS and EDGE technology, but third generation (3G) mobile broadband technology has not yet been introduced except for Onatel’s EV-DO fixed-wireless service. An international tender for a new combined fixed and mobile licence was unsuccessful in 2010, but a much-delayed fourth mobile licence and 3G licences for all operators are expected in 2014, with Viettel emerging as a bidder early in the year.

Spanning over 30 pages, Burkina Faso – Telecoms, Mobile and Broadband – Market Insights and Statistics” report covering the Executive summary, Key statistics, Telecommunications market, Regulatory environment, Regulatory environment, Internet market, Broadband market, Mobile communications. The report covered 13 companies – Onatel, Telmob, Bharti Airtel (Zain, Celtel), Moov (Telecel, Etisalat), FasoNet, ZCP, Delgi, Cenatrin, CFAO Technologies, River Telecom, Net Access, Maroc Telecom, Vivendi

For more information visit at – http://mrr.cm/ZB8

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  • Cote d Ivoire (Ivory Coast) – Telecoms, Mobile and Broadband – Market Insights, Statistics and Forecasts – visit athttp://mrr.cm/ZBX

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The Insurance Industry in Burkina Faso, Key Trends and Opportunities to 2017, New Report Launched

Burkina Faso has a small insurance industry that was liberalized in 1978. Prior to liberalization, there was only one state-owned insurance company: Society National Insurance and Reinsurance (SONAR). Following the liberalization, Union des Assurances du Burkina Vie (UAB) and AGF Burkina Assurances began operations.

Foreign-based insurance companies entered the industry in the 1990s. The country’s economy is heavily reliant on exports and its main export partners are Switzerland, China, Belgium, Nigeria and Singapore. The global financial crisis in 2008 caused a decline in exports from the country, which adversely affected the industry due to its negative economic impact. However, the country’s insurance industry exhibited gradual growth in line with the economy, the gross written premium increased by 11.9% in 2012 and 9.6% in 2013. The industry is projected to benefit from an estimated GDP growth rate of 7.9% in 2014 (according to IMF).

The report provides in-depth industry analysis, information and insights of the insurance industry in Burkina Faso, including:

  • The Burkinabe insurance industry’s growth prospects by insurance segments and categories
  • The competitive landscape in the Burkinabe insurance industry
  • The current trends and drivers of the Burkinabe insurance industry
  • Challenges facing the Burkinabe insurance industry

Scope

This report provides a comprehensive analysis of the insurance industry in Burkina Faso:

  • It provides historical values for the Burkinabe insurance industry for the report’s 2008–2012 review period and forecast figures for the 2012–2017 forecast period.
  • It offers a detailed analysis of the key segments and categories in the Burkinabe insurance industry, along with forecasts until 2017.
  • It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions.
  • It profiles the top insurance companies in Burkina Faso, and outlines the key regulations affecting them.

Reasons To Buy

  • Make strategic business decisions using in-depth historic and forecast industry data related to the Burkinabe insurance industry and each segment within it.
  • Understand the demand-side dynamics, key trends and growth opportunities within the Burkinabe insurance industry.
  • Assess the competitive dynamics in the Burkinabe insurance industry.
  • Identify the growth opportunities and market dynamics within key segments.
  • Gain insights into key regulations governing the Burkinabe insurance industry and its impact on companies and the industry’s future.

Key Highlights

  • In terms of gross written premium, Burkina Faso has one of the smallest insurance industries in West Africa
  • There were only 11 insurance companies and one reinsurance firm operating in the country, of which seven operated in the non-life insurance segment and four in the life insurance segment
  • The higher interest rate of life insurance savings in comparison to general banking and additional facilities such as life cover encouraged the population to invest in individual life insurance products
  • During the review period, the non-life segment’s written premium increased at a CAGR of 8.0%
  • The industry comprises both domestic and foreign insurance companies
  • During the review period, the industry was led by domestic companies

Spanning Over 123 pages, 94 tables, 92 figures, “The Insurance Industry in Burkina Faso, Key Trends and Opportunities to 2017” report covering the Burkinabe Insurance Industry Overview, Industry Segmentation, Competitive Landscape, Economic Indicators, Appendix. The report covered 6 companies – Union of Burkina Insurance, Society National Insurance and Reinsurance (SONAR), General Insurance, Allianz Insurance Burkina, Colina SA, Raynal Assurances SA.

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