NAIROBI, Kenya – Fortune Credit, a leading digital credit provider, has partnered with TuracoMicroinsurance Limited (T/A Turaco), Africa’s foremost insurtech, to launch Fortune Boda Cover — an innovative health and life insurance solution bundled directly into motorcycle loans.
With over 20,000 active borrowers, this partnership aims to protect thousands of current and future boda boda riders by offering simple, affordable, and accessible insurance.
Turaco Microinsurance Company is the Kenyan underwriting arm of Turaco Group, a Pan-African embedded insurtech driving financial resilience in emerging markets with simple and affordable health and life insurance for the underserved population.
How Fortune Boda Cover supports riders
Fortune Boda Cover shields riders from the financial burden of medical emergencies, accidents, temporary income loss, and funeral costs.
“Our customers face real risks every day on the road. Many of them are young people striving to build a better future through boda boda riding. This partnership makes it easier and more affordable for them to access meaningful protection and stay financially secure,” said Janet Kuteli, CEO of Fortune Credit.
Fortune Credit Limited is a Digital Credit Provider, licensed by the Central Bank of Kenya. Founded in 2014, Fortune Credit seeks to catalyse economic empowerment of the rural population in Kenya through appropriate savings, credit, and insurance services. It offers products such as boda boda loan, agribusiness loan, green finance, working capital, and education finance.
For many riders, out-of-pocket healthcare costs remain out of reach, putting both their income and families at risk during emergencies. With premiums starting as low as Sh100 per month, this initiative brings critical insurance within the reach of Kenya’s informal transport sector.
Key Product Highlights:
Motorcycle loan borrowers with Fortune Credit will automatically receive Fortune Boda.
Cover, with premiums seamlessly bundled into loan repayments. Benefits include:
- Hospital Cash Benefit – up to Sh20,000/year
- Accidental Medical Reimbursement – up to Sh50,000/year
- Total Temporary Disability Benefit – up to Sh20,000/year
- Last Expense (Life Cover) – Sh100,000
“Insurance should be simple and within reach for everyone, especially those in high-risk jobs like boda boda riders. By embedding protection into loans, we’re removing barriers and giving riders the safety net they deserve,” said Ted Pantone, Group CEO of Turaco.
While reacting to the launch of this new initiative, Peter Mwangi, a boda boda rider and Fortune Credit customer in Nairobi said:
“I’ve seen friends struggle after accidents — no money, no support. This cover gives me peace of mind. Even if I’m off the road, I know I can still take care of my family.”
This partnership reflects a shared commitment between Fortune Credit and Turaco to deliver inclusive financial solutions, combining access to credit with critical protection.
Where does Turaco Microinsurance Company operate
Boda boda riders can access Fortune Boda Cover at any Fortune Credit branch nationwide.
Founded in 2019, Turaco is present in Kenya, Uganda, Nigeria, and Ghana. Turaco partners with leading microfinance institutions, mobile network operators (MNOs), and technology-enabled companies to distribute simple and affordable insurance products for their customers.
With Turaco, individuals can secure insurance coverage with premiums starting as low as $1 (Sh129) per month. Turaco processes claims in less than three business days, ensuring customers receive their money when they need it the most. With a vision to insure 1 billion lives in Africa, Turaco has insured more than 3.5 million lives.
Meanwhile, Fortune Credit Limited, the digital credit provider aims to offer solutions designed to accelerate access to innovative financial products and services that have an economic and social impact in Kenya. Fortune Credit’s customers include small and medium-sized entrepreneurs such as boda boda riders and farmers.
