NIC Ghana News

Abiba Zakariah Elected Vice President of OAISA

Ghana's Commissioner of Insurance, Abiba Zakariah, was elected Vice President of the Organization of African Insurance Supervisory Authorities (OAISA) at its 2025 Annual General Meeting held November 16–21 in Harare, Zimbabwe. Issouf Traoré of Côte d'Ivoire was elected President, and both will serve two-year renewable terms. The meeting brought together insurance regulators from twenty-four African countries to advance cooperation and harmonization of supervisory standards across the continent.

Ghana Card Mandatory for All Motor Insurance Purchases from January 2026

The National Insurance Commission (NIC) Ghana has issued a public notice requiring all motorists to present their Ghana Card when purchasing or renewing motor insurance policies effective January 1, 2026. Corporate clients must additionally provide their Tax Identification Number (TIN) for motor insurance transactions. The initiative aims to improve claims handling, strengthen KYC and AML compliance, reduce fraud, and align Ghana's insurance sector with global financial service standards.

African Insurance Leaders Chart Path for Industry Growth and Resilience

Insurance industry leaders from across Africa gathered in Accra for the 4th Africa Network of Insurers Associations (ANIA) Annual General Meeting and Conference, discussing strategies for strengthening the continent's insurance sector and expanding market penetration. The Commissioner of Insurance highlighted that Africa's average insurance penetration rate stands at approximately 3%, far below the global average of 7.4%, and noted challenges including limited financial capacity for underwriting large risks and slow industry innovation. The 5-day event was hosted by the Ghana Insurers Association with participants from Ghana, Uganda, Kenya, Mauritius, and Zimbabwe calling for greater innovation, collaboration, and market development across the continent.