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Young Man from Mdantsane Township Taking Big Steps in Insurance Industry

02 August 2022 IF Insurance
Yanga Duma

Yanga Duma

Yanga Duma (34), a native of the Mdantsane township in East London is no stranger to the insurance or financial services industry. His journey started when he joined Standard Bank's Business Banking Division and served as a Business Banker and Manager. He also worked at Liberty Life before starting his own financial services business.

Duma's passion for helping people and giving back to society, led to him starting his own business, IF Insurance, in 2015. Duma aims to keep South Africans informed on issues of finances and he wants to make a lasting impact on people's lives.

Duma completed qualifications in Internal Auditing at the Cape Peninsula University of Technology (CPUT) and Post Graduate in Financial Planning at the University of the Free State. While he worked in the insurance space, he learned how expensive the products are and that many people are struggling to afford them.

"People have to pay an arm and a leg for insurance. Even though I worked for an insurance company, I found that I was unable to cover my entire family. It became my mission to look for affordable insurance options, not only for myself but also for others," Duma says.

IF Insurance is located in Somerset West in Cape Town, Western Cape. The financial advisory practice assists its clients with financial planning, which includes investment, retirement, and estate planning. The company can also assist you with affordable funeral cover and life insurance.

Duma believes his experience equips him to assist people during difficult times and provide them with a seamless experience. The company has ground-breaking agreements with the major insurance companies and is licensed by the Financial Sector Conduct Authority. Duma believes that what sets his business apart from other businesses in the sector is that IF Insurance finds tailor-made insurance solutions for its clients.

"The insurance sector is highly regulated. What sets us apart is the understanding that we don't just sell products, but we advise our clients based on our wealth of knowledge," he pointed out.

"With our business being run by someone with a Postgraduate qualification in Financial Planning and vast financial services experience, our advice is holistic and extensive, and we are equipped to talk our clients through the challenges they face."

IF Insurance is also playing its part in the fight against the country's 65.5% youth unemployment rate.

"Our company offers internships and bursaries annually, and we have two internships and three bursaries granted for 2022, thanks to our partnership with the INSETA (Insurance Sector Education and Training Authority)," Duma said.

"We train our interns for a year and employ them afterwards. We also pay a monthly salary."

The company has also developed an app that allows the public to access its services.

"We pay people R300 for referring clients to us, and while it is not much, it has helped many in these times of need," he added.

IF Insurance will be opening its second office in Johannesburg soon. Duma's goal is to eventually have presents in all provinces.

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