By Rosemary Iwunze
The National Insurance Commission, NAICOM, has called on African governments to support the insurance sector.
Commissioner for Insurance, Mr Sunday Thomas who made the call at the just-concluded conference of the African Insurers Association, AIO, urged governments to lift border barriers that make movement of resources almost impossible.
Thomas also urged them to promote healthy competitions amongst member-states and promote knowledge sharing across the continent among other objectives that will make insurance business thrive within the African markets.
Thomas said: “Developing the insurance markets across Africa is no longer a choice but a necessity.
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“The signing of the Africa Continental Free Trade Agreement, AfCFTA has provided an avenue to foster unity and integration within the Africa region.
“It provides an avenue for achievement of a common market for goods and services; guaranteeing free movement of human resources, investment and technology.
“But let me charge the new leadership of the AIO to cap it by vigorously persuading the governments across the continent to play their roles in providing the necessary support, creating an enabling environment for insurance activities to flourish, continue lifting of border barriers that make movement of resources almost impossible, promoting healthy competitions amongst member-states and knowledge sharing across the continent among other objectives that will make insurance business thrive within the African markets.”
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