Ghana, Zambia urged to partner in boosting insurance growth

The Ghana Insurance Association (GIA) has called for stronger collaboration with the Insurance Association of Zambia (IAZ) to drive insurance penetration and accelerate sector growth in both countries.

GIA Chief Executive Officer, Kingsley Kwabahson, said the two markets shared striking similarities, making it essential for the associations to exchange knowledge, experiences, and best practices.

Speaking in an interview on the side-lines of the just ended 2025 Insurance Conference in Livingstone, Kwabahson stressed the importance of learning from each other’s successes and challenges.

“I observed many commonalities between our insurance landscapes. For instance, Zambia is discussing the sandbox framework, which Ghana has already implemented. That is where the conversation should begin,” he said.

He added that joint efforts could help both markets design practical strategies to increase insurance uptake, which remains low in Zambia and Ghana.

Partnerships, he suggested, could also integrate various forms of insurance to provide a clearer picture of coverage levels across the two countries.

Turning to emerging technologies, Kwabahson urged regulators to work collaboratively as Zambia considers adopting Artificial Intelligence (AI) in the insurance sector.

“Regulators in insurance, communications, health, and security must create a platform for dialogue if they are to minimize AI risks while maximizing its benefits,” he advised.

The call for collaboration comes at a time when both countries are pursuing innovation and regulatory reforms aimed at making insurance more accessible and relevant to their populations.

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