Financial Services

Given the open regulatory framework, continued interest from foreign investors and current low penetration rate, there is strong potential for growth in the Ghanaian insurance sector. The industry is working to design and market products for uninsured populations, including the emerging middle class and those in the informal sector. For its...

Ghana’s emerging real estate sector contributes significantly to the development of the economy as far as housing is concerned. The government has helped to establish the Ghana Real Estate Developers Association as an initiative for public and private sector participation in housing investment and delivery. The association was formally...

A bill updating the 1993 Securities Industry Law is slowly making its way through the halls of Ghana’s Parliament. The existing law has become out of step with many of the advances of an increasingly global market. The new legislation would seek to tighten regulation, increase transparency, better facilitate cross-border transactions and allow...

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,...

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...