Microfinance Focus March 28, 2011: Oceanic Bank recently launched micro health Insurance services in the agriculture-rich town of Epe populace through its Oceanic Micro Savings Account (OMSA).

The product will offer low-cost health coverage in partnership with Oceanic Health Management Limited. Oceanic Health provides health care through a network of reputable hospitals strategically located across Nigeria. These health care providers include primary, secondary and tertiary care institutions, amongst others.

Felix Oyakhamoh, Head of Development Finance Department, said, “Oceanic Bank is the first financial institution to combine micro-health insurance services with a savings product for microfinance customers.”

He added, “Oceanic Bank’s Micro Health Insurance Scheme is designed to ensure protection for its current and potential OMSA customers against health risks and serves as yet another poverty alleviation platform employed by Oceanic Bank to empower small businesses.”

The Oceanic Micro Savings Account (OMSA) as the savings product for microfinance customers offers access to health care while addressing the need for new methods of health financing targeting the unbanked and under-banked.