Prime News Ghana

We’re creating the environment for Insurance to thrive – Dr Bawumia

By Clement Edward Kumsah
Dr Bawumia_meets_allianz_group

The Vice President of Ghana, Dr Bawumia, has re-echoed the Government’s resolve to create an enabling environment for businesses to grow and create avenues for employment.

According to Dr Bawumia, the Nana Akufo-Addo government is undertaking the necessary structural and economic reforms in order to create a solid base for the accelerated take off of the economy while maintaining macro stability.

Dr Bawumia gave the assurance when Dr. Christof Mascher, the Global Chief Operating Officer of global financial services provider Allianz SE, and other senior management of the company paid a courtesy call on him at the Jubilee House in Accra.

“We are happy to see Allianz here; this is a good time to be in Ghana, we want a growing and strong economy, and this goes hand in hand with insurance.

“We remain committed to our resolve to make Ghana the most business-friendly country in Africa, and we are working hard to put the necessary building blocks in place. We have already implemented a national digital property addressing system, our national ID card is just about to be issued, financial interoperability, which will make payments easier than ever, will be launched soon.

“Another important plank, the issue of land, is being addressed by a task force. We intend to digitise land records and eventually create a mortgage market and other financial instruments.
“So, we expect you to expand your business and grow in Ghana.” Dr Bawumia charged.

Dr. Christof Mascher indicated his company’s desire to learn from Ghana in its global expansion drive and outlined plans to further expand its operations after it was granted the licence to offer Life Insurance packages.

The Regional CEO for Africa, Dr. Coenraad Vrolijk, disclosed that as part of Allianz’s Africa growth plans, a number of Africans including Ghanaians, are being trained to undertake underwriting operations. This is directly creating jobs, and will help push the company’s expansion drive, he explained.

The Allianz Group is a global financial services provider, headquartered in Munich, Germany, with services predominantly in the insurance and asset management business. As of 2014, it was named the world’s largest insurance company and the largest financial services company with 86 million retail and corporate clients in more than 70 countries.

In Africa, Allianz is currently present in 17 countries and accompanies clients in 38 countries. Allianz Ghana is a 100% solely owned subsidiary of Allianz Group which began operations in 2009.

Allianz Group in Ghana is currently operating in 7 Regions namely Greater Accra, Ashanti, Western, Eastern, Northern, Volta, and Brong –Ahafo.