With insurance penetration hovering below the 2% mark, authorities in Ghana have been attempting to increase awareness and the percentage of the population that are covered by insurance schemes. Many of these efforts have been directed towards driving the adoption of micro-insurance products, as the government and underwriters see the...
Ghana’s current energy shortage and the effects of climate change on a number of sectors are driving the exploration of renewable energy use. Since the country’s electricity needs currently exceed existing supply, and electricity and gas tariffs are increasing, the government is encouraging the diversification of its energy sources, creating a...
The restructuring of the financial market facilitated the creation and growth of the bond market in Ghana. The bond market has improved since the first trading of Ghana Stock Exchange (GSE) commemorative registered stock in 1990. These bonds were five-year debt instruments issued to provide a foundation for active bond trading on the newly...
The large number of insurers in Ghana – and the high level of fragmentation at the lower end of the market – has led to intense competition and a history of rate-cutting, which has often softened margins and led to higher expenses. This in turn led to a situation where a number of firms were unable to quickly settle legitimate claims,...
Established in 2004, the National Health Insurance Scheme (NHIS) was Ghana’s first step towards a sustainable system of universal health care. In order to provide a social safety net for the most vulnerable segments of the population, the scheme initially targeted lower-income residents, with the intention of expanding coverage to the entire...
In line with financial markets around the globe, the Ghana Stock Exchange (GSE) experienced a tumultuous year in 2015, with the GSE Composite Index ending 11.77% lower than at the close of 2014. This was driven by a slowing economy and softening performance in the financial services sector. The financial index, which accounted for less than a...
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