Disease risks never far from the surface

Disease risks never far from the surface

Disease risks never far from the surface

The Ebola outbreak, which ended in 2016, caused worldwide panic, raising fears of a global pandemic. It wiped millions off the economies of the affected west African countries and since then governments have continued to struggle to rebuild. At the time, risk managers had to make hard decisions around whether or not to leave staff in situ and how to…

Battling business challenges on the road to recovery

Battling business challenges on the road to recovery

Battling business challenges on the road to recovery

West Africa is enjoying a renaissance as its biggest economy comes out of recession, as Prince Cookey reports The countries of west Africa are crawling out of the recession that enveloped the region’s biggest economy, Nigeria. With Nigeria out of recession, the ripple effect is positively impacting on the region, even as challenges persist. However, across the region and Africa,…

Risks hang over insurance market in French Africa

Risks hang over insurance market in French Africa

Risks hang over insurance market in French Africa

With the appearance of new risks, the emergence of an African middle class presents opportunities for the insurance sector in French-speaking Africa. However, the risks linked to the political and institutional instability in certain states, the digital breakthrough and the weak insurance culture of the population threaten the insurance industry, reports Abdou Diaw Today, Africa’s insurance sector is in a…

Growth likely for CIMA markets

Growth likely for CIMA markets

Growth likely for CIMA markets

Changes in the rules among the francophone countries signed up to the CIMA Code are bearing fruit, according to ratings agency AM Best. Below, we discuss its latest report on the region Insurers and reinsurers have some excellent opportunities for growth in the CIMA countries of francophone Africa. According to an AM Best insurance market report on the 14 countries…

Ghana on upward trajectory

Ghana on upward trajectory

Ghana on upward trajectory

The Ghanaian economy is showing healthy signs of growth but challenges remain, particularly in the balancing act between the drive for mineral extraction and agriculture, as David Kaye reports Ghana’s macroeconomic performance has improved in 2017 after a difficult 2016, according to the World Bank, making it an increasingly attractive foreign investment destination. In fact, according to a recent World…

Economic risks reducing in anglophone west Africa

Economic risks reducing in anglophone west Africa

Economic risks reducing in anglophone west Africa

The economic forecast for anglophone west Africa is looking brighter as Nigeria, Africa’s largest economy, moves out of recession, Ghana’s growth continues to be strong and the region’s smaller countries are picking up as they shake off the lingering effects of the Ebola outbreak. According to analysis by Ecobank’s research team in the newly-published Anglophone West Africa section of its…

Arthur Yao joins Allianz Africa

Arthur Yao joins Allianz Africa

Arthur Yao joins Allianz Africa

Arthur Yao is to join Allianz Africa as chief underwriting and reinsurance officer, effective 1 September 2018. Allianz Africa Financial Services, Allianz Group’s regional company on the continent, said Mr Yao will drive and direct underwriting and reinsurance strategies across all lines of business in the region and will be based in Abidjan, Ivory Coast. He will report to Delphine Maïdou,…

CIMA insurance zone set to grow

CIMA insurance zone set to grow

CIMA insurance zone set to grow

Despite significant economic and, in some instances, political headwinds rendering the operating environment challenging, AM Best has reported that insurance and reinsurance companies within the Conférence Interafricaine des Marchés d’Assurances (CIMA) zone have continued to grow profitably in recent years. However, insurance penetration remains exceptionally low at 1.1%, against a worldwide average of 6.3% globally in 2016. It has found…

Chinese pull plug on illegal fishing in west Africa

Chinese pull plug on illegal fishing in west Africa

Chinese pull plug on illegal fishing in west Africa

Risk managers in the fishing sector have been told that the Chinese Ministry of Agriculture (MoA) is pulling the plug on three Chinese companies conducting illegal, unreported and unregulated (IUU) fishing in west Africa. According to Greenpeace, this demonstrates an increased intolerance by authorities towards Chinese vessels involved in IUU. The MoA has cancelled the distant-water fishing certificate of the…

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