Ghana has taken a bold step toward reshaping the future of the insurance industry in Africa by hosting the continent’s first-ever Sustainability Insurance Conference.
The three-day event, held at the Movenpick Ambassador Hotel in Accra, was organised through a collaboration between Ghana’s National Insurance Commission (NIC) and the Secretariat of the Nairobi Declaration on Sustainable Insurance (NDSI).
Held under the theme “Building a New Sustainability Culture for Africa’s Insurance Markets,” the summit convened insurance leaders, policymakers, and regulators from across the continent to explore how sustainability and climate resilience can be integrated into insurance practices.
In a speech delivered on behalf of Finance Minister Dr. Cassiel Ato Forson, the government reiterated its commitment to advancing green financing and sustainable risk management.
“A sustainable insurance industry is essential to protect policyholders,” the statement read, emphasising the need to develop tailored insurance solutions for climate-sensitive sectors such as agriculture and renewable energy.
Speaking at the conference, Acting Commissioner of Insurance, Dr. Abiba Zakariah, emphasised the strategic importance of sustainability in Africa’s insurance regulatory frameworks.
“This conference aligns with the NIC’s vision to attract investment, technical expertise, and innovation to Ghana’s insurance sector,” she said.
“We must move beyond traditional compliance models and embrace Environmental, Social, and Governance (ESG) principles. It is crucial that African regulators embed climate risk disclosures into their regulatory frameworks to build a resilient and future-ready industry,” she added.
Dr. Zakariah further urged stakeholders to see ESG not just as a reporting obligation, but as a transformative tool to strengthen the long-term viability of the insurance sector.
Key industry voices including Philip Lopokoiyit (NDSI Chair and CEO of ICEA Lion Group), Kelvin Massingham (FSD Africa), Emeka Akwiwu (Continental Reinsurance), and Patty K-Martin (NamibRe) highlighted the importance of collaboration between governments and the private sector in driving sustainable insurance solutions.
The conference addressed critical topics such as agricultural and parametric insurance, climate risk mitigation, and sustainable underwriting.
Discussions aimed to reposition the insurance industry as a key player in Africa’s broader development and climate resilience agenda.
The event concluded with a resounding call to action; for stakeholders to transition from dialogue to implementation by adopting concrete policies that bolster both environmental and economic resilience across the continent.
SP/MA
Watch the latest edition of BizTech below:
