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‘Address Challenges To Deepen Insurance Penetration In Africa’



The president, African Insurers Organisation (AIO), Mr. Tope Smart has called on insurance stakeholders on the continent to unite and address the challenges bedeviling insurance growth.

Smart, in his New Year message to insurance fraternity in Africa said, insurance penetration rate in Africa remains low when compared with global average.

To this end, Smart, who is also the group managing director of NEM Insurance Plc, stressed that,” we need to bridge this gap by addressing all the challenges confronting us as a sector in Africa. With determination and commitment, we can do this.”

While calling on African insurers to  remember and renew their trust in AIO executives, he looks forward to a better African insurance industry in the years to come.

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Stating that insurance industry is growing bigger, stronger, and more resilient, he added that, ‘together, we are working on several projects which we believe will bring us closer and make us stronger and better.’

“So, it is with distinct pleasure that I join you in welcoming this New Year 2022. AIO will be celebrating 50 years of existence this year 2022 in Nairobi, Kenya and this is a milestone we need to celebrate in grand style. We have done much, and we will do more,” he pointed out.

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