41 jostle for Africa Re’s Chief Operating Officer post
By FAVOUR NNABUGWU
After series of screening of candidates from the 41-member states of the African Union that make up Africa Reinsurance Corporation (Africa Re) and the subsequent interviews of those shortlisted by the corporation’s governing board, Nigeria’s Ken Aghoghovbia emerged as the newly appointed Deputy Managing Director/Chief Operating Officer of Africa Re.
The 41-member countries of Africa Re that vied for the position are: Algeria; Angola; Benin; Burkinafaso; Burundi; Cameroon; Central African Republic; Chad; Congo Brazzaville; Congo (Democratic Republic); Côte d’Ivoire; Egypt; Eritrea; Ethiopia; Gabon; Gambia; Ghana; Guinea; Guinea Bissau and Kenya.
Others include: Liberia; Libya; Mali; Madagascar; Mauritania; Mauritius; Morocco; Niger; Nigeria; Rwanda; Senegal; Seychelles; Sierra Leone; Somalia; Sudan; Swaziland; Tanzania; Togo; Tunisia; Uganda and Zambia
The decision to pick Mr Aghoghovbia has since been approved by the Board of Directors whose actions have always been driven by the dreams of the founding fathers of Africa Re.
The purpose of Africa Re, as defined in Article 3 of the Agreement Establishing the corporation is “to foster the development of the insurance and reinsurance industry in Africa, to promote the growth of the national, regional and sub-regional underwriting and retention capacities and to support African economic development.”
The governing board of Africa Re comprises Musa Al Naas, Chairman; Mr. Thami EL Barki , Morocco; Mr. Mohamed Lemine Ould Naty, Mauritania; Mrs. Nyamikeh Kyiamah, Ghana; Mr. Israel Kamuzora, Tanzania; Mr. Kamel Maram, Algeria; Mr. Adel Mounir, Egypt; Fola Daniel, Nigeria; Mr. Bernd Tummers, Germany; Mr. Blaise Ezo’o Engolo, Cameroon and Mrs. Marie Laure Akin-Olugbade with alternative directors including Nigeria’s Alhaji Bala
Zakariya’u.
Mr Musa Al Naas, Africa Re chairman said at the reinsurer’s annual general meeting that “Extending the marketing network is one of the projects the corporation embarked on over the past years and is still striving to carry out. This expansion, aimed at better controlling the African market has to continue relentlessly.
“As such, we are pleased to announce that the negotiation on the establishment of a contact office in Addis Ababa, Ethiopia is at an advanced stage with the imminent signing of the headquarters’ agreement between the Corporation and the Ethiopian authorities.”
Africa Re has its headquarters in Lagos, Nigeria and operates from six regional offices based in Nairobi, Casablanca, Abidjan, Cairo, Lagos, and Port Louis. It also has a contact office in Addis Ababa and two subsidiaries in South Africa and Egypt.
Aghoghovbia holds a Bachelor’s degree in Insurance (BSc) and a Master’s degree in Business Administration (MBA). He is also a Fellow of the Chartered Insurance Institute (FCII), London.
He has over 25 years cognate experience in reinsurance and had a brief stint with Nelson Insurance Brokers before settling with Africa Re. He is a highly respected professional in the African insurance industry and has held several managerial positions in Africa Re, the latest of which is the Regional Director of West Africa until the current appointment as Deputy Managing Director/Chief Operating Officer.
He has delivered several papers within and outside the African continent, many of which have been published in newspapers, journals and professional magazines.
