The Nigerian Commissioner for Insurance, National Insurance Commission, NAICOM, Mr. Sunday Thomas has implored individual African insurance markets and the new leadership of the African Insurance Organisation to individually and collectively by vigorous persuasion make “the governments across the continent to play their roles in providing the necessary support” to make Africa Continental Free Trade Agreement AfCFTA the bastion for insurance growth and development.
Mr. Thomas said the signing of the AfCFTA by governments in Africa has provided an avenue to foster unity and integration within the African region. He welcomes it and comments, “It provides an avenue for achievement of a common market for goods and services; guaranteeing free movement of human resources, investment and technology.”
Despite these lofty ideals the trade agreement according to the submission of the CFI, is still a far away clean and clear stream good enough for all but it is now flowing into government policy reservoir and will need vigorous persuasion to make the flow cascade gown to economy for the good of all citizens and especially insurance market operators. He minced no words as he called on government across the continent to continue lifting border barriers pointing out that restrictions still stay and are “making movement of resources almost impossible.”
Thomas who declared this at the investiture of Mr. Tope Smart, AIO new president, said the trade agreement will 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.
He also charged the new leadership to uptick the AIO golden jubilee which comes up in 2022, he explains that the charge is to make them write their names in gold “for coming on board at this critical time.”
Optimistic that the new leadership is up to the task, he streams his optimism, “We expect to see great stride and landmark achievements when your tenure is over and the baton will change hands.”