Extend insurance to informal sector — Industry players urged
The acting Commissioner of Insurance, Dr Abiba Zakariah, has called on industry players to intensify efforts in expanding insurance coverage to reach underserved populations, especially in rural and informal sectors.
She said while Ghana’s insurance industry had made significant progress over the years, penetration levels remained relatively low, particularly among low-income earners and informal workers.
That, she said, posed a challenge to the country’s financial resilience and economic stability.
Dr Zakariah, who made the call last Friday at the inauguration of the newly constructed Insurance House in Accra, said, “the insurance industry must rise to the task. We cannot build a resilient financial sector without including the majority of our working population, market women, farmers, artisans, who remain largely uninsured.”
“No one should be left behind in terms of financial protection, inclusion and security. The collective effort that brought this building to life must now reflect in how we serve the public,” she added.
She said the new building was a symbol of unity and a deep sense of collaboration of industry players who used to work in silos.
"It was not an easy road, there were funding challenges, competing priorities, bureaucratic hurdles. And at times, downs that tested the resolve of even the most determined mind. This building stands because of a collective perseverance and unshakable unity,” Dr Zakariah added.
Features
The Insurance House, constructed by Spektra Global, a Ghanaian architectural and construction firm, is a modern, three-story office building with a single basement level, located in Kanda, Accra, Ghana.
It occupies approximately 1,750 square metres of the land and features a reception hall, banking hall, conference and meeting rooms, offices for the Ghana Insurers Association, lounges, washrooms, a restaurant, and a rooftop terrace.
Commitment to growth
The President of the Ghana Insurers Association (GIA) and Managing Director of Ghana Re PLC, Seth Aklasi, indicated that the project, which was a landmark achievement for the industry, stood as a fiscal commitment to the growth and transformation of the sector.
He said the new building will improve accessibility to enable Ghanaians to see the tangible aspect of insurance adding that “anybody who goes around and sees that we have a building here should know that if it is anything insurance, whether complain or enquires, he should be able to get it from this place.”
“The facility will serve as a hub where ideas will flourish, partnerships will be forged, and the relevance of insurance will be elevated as a national priority. The Insurance House is more than a building, it’s a symbol of unity, resilience and progress,” he said.
For his part, the Chairman of the Ghana National Bureau of the ECOWAS Brown Card Insurance Scheme and Managing Director of Activa International Insurance, Benjamin Yamoah, lauded the vision behind bringing insurance institutions under one roof.
“This is not just a space for administrative work; it should become a space of real transformation. The energy in this building must translate into action,” he advised.