African insurance players will be discussing the continent’s debt burden and its impact on their operations at the 51st African Insurance Organisation conference and Annual General Meeting in Addis Ababa, Ethiopia.
The conference opened on Saturday under the theme ‘Balancing the Books: Africa’s Debt Problem, Why Does Country Debt Impact Insurers?’ offers a platform for industry leaders, regulators, and stakeholders to engage in productive discussions and share best practices and innovative solutions for the African insurance landscape.
In his welcome address, the President of the Local Organising Committee, Mr Yared Mola, said, “This conference serves as a dynamic platform for industry leaders, policymakers, researchers and practitioners to converse, network and exchange ideas.
Together, we will explore the intricate links between national debt and the insurance sector while identifying strategies to navigate challenges and seize opportunities for sustainable growth. Join us as we share knowledge, foster collaboration and shape the future of insurance in Africa.”
The Commissioner for Insurance, Olusegun Omosehin, led the Nigerian delegation, which comprises officials from the National Insurance Commission; insurance company executives and brokers; loss adjusters and others.
In recent months, NAICOM has been pushing the African Continental Free Trade Area Agreement and engaging stakeholders in the industry. It is not yet clear whether this is an agenda that the CFI will be engaging other African countries on at the ongoing conference.
The Chairman of the Nigerian Insurance Industry Committee on AfCFTA, Mrs Ekeoma Ezeibe, has also highlighted the opportunities that AfCFTA offers, particularly for cross-border expansion and the harmonisation of insurance regulations across the African continent.
According to her, the vast potential of AfCFTA spans a region with a $3.4tn GDP and a population of 1.4 billion people. She pointed out that the sector is poised to experience increased demand for insurance services as regional value chains expand and diversify.
At the AfCFTA Workshop 2025 with the theme “Unlocking Opportunities: AfCFTA and the Nigerian Insurance Industry” held earlier in the year, Ezeibe described AfCFTA “as the largest free trade area in the world, encompassing 54 of the 55 African Union member states. The primary goal of AfCFTA is to foster intra-continental trade, boost investment, and support economic integration across the continent.”
