AXA Mediterranean and South America region (AXA MedLA), a subsidiary of AXA Group, and Grameen-Jameel Microfinance Ltd., one of the largest private supporters to microfinance institutions in MENA and Turkey, have signed a memorandum of understanding (MoU), to jointly provide micro insurance solutions for clients in the region.
The objective of this partnership is to capitalize on AXA’s insurance expertise and Grameen-Jameel’s microfinance proficiency offering insurance products to microfinance clients. The MoU was signed by Jean-Laurent Granier, CEO of AXA Mediterranean and Latin American Region and chairman and CEO of AXA Global P&C Line of business, and Zaher Al-Munajjed, chairman, Grameen-Jameel Microfinance Ltd. in the presence of Fady Abdul Latif Jameel, president of Abdul Latif Jameel Community Service Initiative and Grameen-Jameel board director.
AXA’s micro insurance products would be delivered by leveraging Grameen-Jameel’s microfinance network, proposing insurance products to their microfinance clients. By accessing protection covers against any form of casualty, working disability or unexpected events, such as floods or fires, micro-entrepreneurs and their families will be protected and able to pursue their day to day activities.
“We are very proud to become the first global insurance provider to develop a micro insurance offering for MENA microfinance clients, through the network of Grameen-Jameel Microfinance Ltd. As a leading insurer, our role is to protect our clients and allow them to develop their projects, their businesses and plans for their beloved one’s future.” said Granier.
He added: “It is all the more important that we support those who are more fragile and need more protection. We are very happy to launch this partnership with an experienced and respected organization such as Grameen-Jameel, in a region where we have been present for many years and in which we want to grow further.”
Al-Munajjed said: “Grameen-Jameel is delighted to partner with a renowned global insurer such as AXA. With over 80 million individuals living in poverty in the MENA region, the demand for micro credit and micro insurance particularly is critical to help alleviate poverty. Many microfinance clients have been left in financial ruin and with no indemnity after the unfortunate death of the breadwinner of the family. Now, micro entrepreneurs can have assurance that their families are protected and will not carry the debt burdens in the event of death.”
Grameen-Jameel, AXA to provide micro insurance
Grameen-Jameel, AXA to provide micro insurance
Jeeny launches First–Last Mile Access in partnership with Medina Bus
Jeeny has announced the introduction of its First-Last Mile Access Program in collaboration with Medina Bus, marking a significant step forward in Saudi Arabia's transportation reform.
Passengers who buy a Medina Bus ticket can now get discounted Jeeny rides to and from key bus stops, making public transportation more accessible for both residents and pilgrims.
While the initiative appears modest, it represents a far wider vision: the first operational phase of Jeeny's goal to develop Saudi Arabia's next-generation Integrated Mobility Platform, an integrated framework that will eventually connect numerous modes of transportation under one seamless consumer experience.
Medina was chosen as the launch location because of its national importance and growing demand for efficient transportation.
In 2024, the city's bus network handled 1.72 million people, and demand is predicted to increase further in 2025.
Medina, being one of the Kingdom's most popular destinations, provides a real-world setting for evaluating concepts that can then be scaled across the country.
“This marks the beginning of a mobility shift in Saudi Arabia, where public transport and private operators can work together to offer a seamless journey,” said Hammad Ehtesham, CEO of Jeeny. “Making it easier for people to reach public transport is the foundation of a future where every mode of mobility in the Kingdom connects effortlessly.”
With millions of rides every year in Saudi Arabia and Jordan, Jeeny has developed into one of the top mobility platforms in the area.
The company, which employs over 400 people and has one of the biggest active driver networks in the Kingdom, is currently getting ready for its next stage: a nationwide mobility ecosystem that will support buses, ride-hailing, micro-mobility, pilgrim mobility services, and end-to-end travel solutions, including direct flight booking through Jeeny.
Despite the fact that Medina's First-Last Mile initiative is relatively new, early feedback shows that users are really interested in more accessible transportation options.
Similar First-Last Mile initiatives can increase public transportation usage by 15 to 25 percent, according to international research, underscoring the wider potential impact as Jeeny considers expanding to more Saudi cities.
“What begins in Medina will become a blueprint for the Kingdom’s connected mobility future,” Ehtesham added. “This is the first step toward a nationwide ecosystem that will make movement simpler, smarter, and more accessible for everyone.”
Passengers on Medina Bus are now able to make use of the Jeeny First-Last Mile Access Program, which supports Saudi Arabia's vision for contemporary, sustainable, and inclusive mobility while providing a new, more convenient means of accessing public transportation.
