By: Kenneth Appiah Bani.
The National Insurance Commission (NIC) of Ghana has officially inaugurated a new seven-member Governing Board, tasked with strengthening regulatory oversight and promoting transparency and efficiency within the country’s insurance sector.
Chaired by Mr. Christopher Boadi-Mensah, the newly constituted Board includes distinguished professionals drawn from both the public and private sectors. Members are Dr. Abiba Zakariah of the NIC, Mr. David Klotey Collison, Coordinating Director at the Ministry of Finance, Mr. Emmanuel Amofa from the Ghana Bar Association, Mr. Mathew Kwaku Atta Aidoo representing Insurance Industry Trade Bodies, as well as two presidential nominees Ms. Jean Marie Formadi, Member of Parliament, and Mr. Simon Akibange Aworigo.
The inauguration ceremony took place in Accra, with the Deputy Minister for Finance, Hon. Thomas Nyarko Ampem (MP), administering the Oaths of Office and Secrecy on behalf of the Finance Minister, Hon. Dr. Cassiel Ato Forson (MP).
Addressing the newly sworn-in Board, Hon. Ampem highlighted the crucial role the NIC plays in maintaining the stability and growth of the insurance sector. He called on the Board to champion regulatory reforms, transparency, and inclusivity, while working to make insurance more accessible to the Ghanaian public.
“The insurance sector is vital to our economic development,” Hon. Ampem noted. “We count on the NIC to lead reforms that build consumer confidence and broaden insurance coverage nationwide.”
In his acceptance remarks, Board Chair Mr. Boadi-Mensah expressed appreciation to the President and the Finance Minister for the confidence reposed in the Board. He reiterated the Board’s commitment to strengthening the Commission’s regulatory capacity, improving industry standards, and deepening stakeholder collaboration.
“We are honored by this responsibility,” he said. “Our focus is to ensure the NIC serves all Ghanaians by encouraging innovation, upholding international best practices, and protecting consumer interests.”
The new Board is expected to drive strategic reforms to enhance compliance across the industry, boost insurance penetration particularly in underserved communities and raise public awareness on the value of insurance. Their leadership comes at a time when the Commission is seeking to modernize its operations and expand its impact on Ghana’s socio-economic development.
