Ghana is positioning itself as a continental front-runner in sustainable finance, having successfully hosted Africa’s first-ever Sustainability Insurance Conference in Accra. The pioneering three-day summit marks a transformative moment for the region’s insurance sector, with Ghana setting the tone for a climate-resilient and future-ready industry.
The conference jointly organised by Ghana’s National Insurance Commission (NIC) and the Secretariat of the Nairobi Declaration on Sustainable Insurance (NDSI) was themed, “Building a New Sustainability Culture for Africa’s Insurance Markets.” It drew insurance leaders, policymakers, climate finance experts, and regulators from across the continent to deliberate on integrating sustainability into the very fabric of Africa’s insurance landscape.
Delivering remarks on behalf of Finance Minister Dr. Cassiel Ato Forson, the government reaffirmed its strategic commitment to advancing green financing and developing insurance solutions for climate-sensitive sectors such as agriculture, energy, and infrastructure.
“A sustainable insurance industry is essential for safeguarding livelihoods and promoting long-term economic stability,” the Minister’s statement underscored.
Dr. Abiba Zakariah, Acting Commissioner of Insurance, emphasized that the conference aligns with NIC’s ambition to attract investment, technical expertise, and innovation into Ghana’s insurance ecosystem. She called on fellow African regulators to adopt ESG (Environmental, Social, and Governance) principles and move beyond traditional compliance frameworks to embrace climate risk disclosures and forward-looking regulation.
Industry heavyweights, including Philip Lopokoiyit (CEO of ICEA Lion Group and NDSI Chair), Kelvin Massingham (FSD Africa), Emeka Akwiwu (Continental Reinsurance), and Patty K-Martin (NamibRe), echoed the need for robust public-private sector collaboration to drive meaningful change in sustainable underwriting and climate risk adaptation.
Discussions at the conference spotlighted emerging solutions such as parametric insurance for climate events, risk transfer mechanisms for agriculture, and sustainable underwriting strategies critical tools to build resilience across African economies.
The summit urged African insurance regulators to shift from traditional compliance to Environmental, Social, and Governance (ESG) frameworks, embedding climate risk disclosures into regulatory regimes.
The conference spotlighted the role of parametric insurance, agricultural risk products, and sustainable underwriting as tools for climate adaptation and financial inclusion.
Ghana’s leadership in hosting this inaugural event is more than symbolic it lays the groundwork for the country to become a regional center for sustainable insurance innovation. By spearheading ESG adoption and integrating climate-conscious practices into insurance regulation.
Ghana stands to attract green investments and technical expertise. Through active engagement in sustainability-focused dialogues, Ghana aims to position its insurance industry as a destination for ESG-compliant capital and innovation.
Building a Climate-Resilient Economy, by integrating sustainable insurance practices, Ghana can enhance risk mitigation strategies in agriculture, infrastructure, and energy sectors highly susceptible to climate shocks.
The NIC’s alignment with global ESG principles sets the stage for reforms that improve transparency, promote resilience, and attract multinational insurers seeking compliant markets.
As the inaugural host, Ghana now leads a continental conversation that could define the future of insurance in Africa. The conference’s momentum creates an opportunity to drive policy influence, share best practices, and spearhead regional initiatives.
The conference concluded with a clear message: sustainability must move from theory to action. Stakeholders were called upon to translate insights into policies that future-proof the African insurance market while aligning with global climate targets.
With this bold step, Ghana has not only raised the bar for insurance innovation but has also signaled its ambition to become a sustainability hub for Africa’s evolving financial ecosystem.
