The informal sector has remained skeptical on taking insurance citing lack of accountability and transparency by most insurance companies.

While most people understand the importance of the insurance industry, failure to access their money after the multicurrency regime has left most of the people in the informal sector skeptical about rejoining the insurance.

A survey carried out by ZBC in Magaba area in Mbare indicates that most people have lost confidence and want the insurance sector to be transparent and account for the contributions made by people before the coming in of the multicurrency.

Last week, the Minister of Public Service, Labour and Social Welfare, Cde Prisca Mupfumira expressed concern over the practice by some insurance companies. She however encouraged the companies to engage the informal sector as a key component of the economy.

The industry is believed to have invested large sums of money in properties using contributions by the populace but failed to honour their contracts.