Government rallies local insurers for AfCFTA business

September 6, 2021 Ghana Web 0 Comments

e AfCFTA Secretariat is located in Ghana-West Africa
Government is working with the Ghana Reinsurance Commission and other insurance firms to offer sustainable support to shippers seeking to take
advantage of the African Continental Free Trade Area (AfCFTA), Anthony Nyame-Baafi, Technical Advisor on Multilateral, Regional and Bilateral
Trade at the Ministry of Trade and Industry, has said.
According to him, a number of local insurers have already expressed interest in the support mechanism to cover Ghanaian goods bound for the
continental market against the risks of loss and damage.
“It has been observed that most of the imports that come to Ghana do not have insurance cover, with same for exports,” said Mr. Nyame-Baafi.
“Once this arrangement comes, Ghanaian produce for export to any of the African countries will be insured against all trade-related risks,” he told
journalists at the 4th Ghana Insurance Awards in Accra.
He said government has listed insurance as one of five core service sectors—in addition to finance, transport and tourism— that it will prioritise and
promote to boost the nation’s participation in the AfCFTA.

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