“Ethiopia is working to become a leading insurance hub in Africa”, DPM.

The 51st Annual Conference and General Assembly of the African Insurance Organization has commenced in Addis Ababa.

This major assembly brings together insurance regulators, service providers, policy issuers, and stakeholders from 93 African and other countries around the world to discuss ways to strengthen insurance in Africa.

The insurance sector in Africa needs improvement; the sector should contribute to the economic growth of the continent.

In Ethiopia, a system is being developed that gives special attention to innovation, promotes trade, and supports investment. For this, we emphasize the key role of a strong financial sector.

Since the insurance sector is central to the financial sector, important measures are being taken to encourage innovation, ensure effective regulation, and protect policyholders by establishing a dedicated insurance regulatory authority.

Recently, the government has prepared a new law regarding the use and ownership of immovable property, which supports financial and insurance capacities based on housing development and the real estate sector.

Ethiopia is working to become a promising insurance market in Africa; now is the time for investors to collaborate and work with Ethiopia. The government is ready to provide all necessary support for this.

Deputy Prime Minister Temesgen Tiruneh