By Favour Nnabugwu
The African insurance market is waiting for the much collaboration of their Goverment and markets which the new African Insurance Organisation, AIO have unveiled in his five points agenda.
Commissioner For Insurance (CFI) Mr. Sunday Thomas stated this during his address at Investiture Ceremony of Mr. Tope Smart as the 23rd President Of The African Insurance Organisaition (AIO) at the just concluded 47th AIO conference and general assembly in Lagos
He believed that Tope Smart will make fulfil his agenda which the continent desperately needed to move to the next level.
Smart one-year administration will anchor on five key areas namely: increased awareness; adoption of digitalization; collaboration with other markets; collaboration with government and regulators and building customers trust.
Thomas affirmed that AIO President Mr. Tope Smart that the journey ahead may not be all smooth especially due to aftermath effect of the COVID19 pandemic and the shapes of our economies across Africa presently. I am sure we are all going to be proud of your tenure in the AIO, he assured stakeholders.
“There is huge task ahead of you and your team, but working with you over the years gives me high confidence that you are equal to the task and I can vouch for your hard work, resilience, foresight and determination.
“We will give the organisation necessary support it requires as we have always done and in return, we expect that Nigeria as a member is going to reap all benefits of its membership in the organisation in line with the new strategic objectives of the AIO.
According to him, “The African insurance market is in dare need of serious collaboration and synergy now than in other time in the past as we rightly agreed here that we must look inward if truly we want to make an impact.
Thomas pointed out that not only in Nigeria that there is huge growth potential in insurance but is over Africa that we can unite and develop insurance business there is a lot our governments will get economically.
The CFI stressed that the signing of the Africa Continental Free Trade Agreement (AfCFTA) has provided an avenue to foster unity and integration within the Africa region. Therefore, he noted that it provides an avenue for achievement of a common market for goods and services; guaranteeing free movement of human resources, investment and technology.
Thomas charge the new leadership of the AIO to cap it by vigorously persuade the governments across the continent to play their roles in providing the necessary support, creating an enabling environment for insurance activities to flourish, continued lifting of border barriers making movement of resources almost impossible, promote healthy competitions amongst member states and promoting knowledge sharing across the continent among other objectives that will make insurance business thrive within the African markets.
He also charged the new leadership that by the year 2022 the AIO will celebrate its Golden Jubilee (50 years) being established in 1972 which means you can also write your achievements in gold for coming on board at this critical time.
“We expect to see great stride and landmark achievements when your tenure is over and the baton will change hands.
“I urge member states, Management and staff of the AIO to give the incoming President the necessary support and encouragement he requires from them in his tenure, I pledge the support of the Nigerian Insurance industry to your success as President of the AIO.”
He applauded the outgoing President, saying a Woman General in time of war who has done extremely well, a well that deserved rest on the successful completion of her tenure.
He also prays that Mr. Tope Smart obtains divine strength and wisdom to build on existing legacies of the AIO and create new opportunities for the African insurance market as you take over the leadership.