Malawi is now one of the COMESA member states that have embraced what is known as the Yellow Card Scheme, which will cover third party Insurance obtained from country of origin — and in the case of Malawi, from life insurance companies.
Speaking during the launch in Blantyre, President of Insurance Association of Malawi, Dorothy Chapeyama, highlighted that the scheme is essential for easy processing of pay-outs to motorists as they travel, both locally and internationally. She further said that with the yellow card scheme, motorists will no longer be required to be buying insurance at every border post along their way.
Calvin Mutyavaviri, who is the Chief Executive Officer for Secretariate of the Council of Bureaux Yellow Card Scheme based in Zambia, said that the yellow card will strengthen cross border trade as well as strengthen regional partnerships.
And the Director of Trade under the Ministry of Trade and Industry, Charity Musonzo, said the yellow card will boost trade and stimulate growth of the Malawi economy.
She added that congestion in borders will now be history due to fast processing of the insurance verification using the yellow card digitally,making goods and services to move faster.
Alex Moyo who is the Deputy Commissioner responsible for Road Traffic at the Malawi Police Service said that the card will be essential for fast payments during road accidents and it will serve as a great tool to curb dubious insurance transactions.
Using any mobile phone, one can dial *384*10# to transact and verify on their insurance.
By Ghwabupi Mwabungulu
