{"id":474702,"date":"2021-12-08T13:51:52","date_gmt":"2021-12-08T13:51:52","guid":{"rendered":"https:\/\/www.kapitalafrik.com\/?p=474702"},"modified":"2021-12-08T13:51:52","modified_gmt":"2021-12-08T13:51:52","slug":"zlecaf-is-of-interest-to-the-african-insurance-sector","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2021\/12\/08\/zlecaf-is-of-interest-to-the-african-insurance-sector\/","title":{"rendered":"Zlecaf is of interest to the African insurance sector"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div><p>African Insurance Organization (AIO) President Tope Smart (pictured) has announced his organization\u2019s intention to integrate the insurance sector into the African Continental Free Trade Area (AfCFTA). It was during the 25th African Reinsurance Forum held from November 27 to December 1, 2021 in Kigali (Rwanda).<\/p>\n<p>\u201cAfter careful consideration, the IOA secretariat has seen fit to include insurance in this agreement. We are not only looking at how the insurance sector could best fit into the Zlecaf, but also provide a suitable place for the cream of the African insurance industry to think about the way forward, \u201dsaid Tope Smart.<\/p>\n<p>According to the president of the AIO, also managing director of New Insurance Plc, this continental agreement will create the largest free trade area in the world, given the number of countries involved.<\/p>\n<p>\u201cThe agreement connects 1.3 billion people in 55 countries with a combined gross domestic product (GDP) valued at $ 3.4 trillion according to the African Union. It has the potential to lift 30 million people out of extreme poverty, but realizing its full potential will depend on putting in place significant policy reforms and trade facilitation measures, \u201dhe said.<\/p>\n<p>According to Tope Smart, the objective of the AIO for the establishment of the reinsurance forum is to encourage the exchange of business through bilateral contacts and discussions, which is in line with the objective of the organization to promote inter-African cooperation and the development of a healthy insurance and reinsurance industry in Africa.<\/p>\n<p>\u201cOne of the instruments to ensure a healthy, resilient and robust economy for Africa was undoubtedly the Zlecaf. Also, I would like to highlight the contribution of the African insurance industry to the realization of this noble idea, the benefits of which cannot be overstated for the entire African continent, &#8220;he said.<\/p>\n<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div>","protected":false},"excerpt":{"rendered":"<p>African Insurance Organization (AIO) President Tope Smart (pictured) has announced his organization\u2019s intention to integrate the insurance sector into the African Continental Free Trade Area (AfCFTA). It was during the 25th African Reinsurance Forum held from November 27 to December 1, 2021 in Kigali (Rwanda). \u201cAfter careful consideration, the IOA secretariat has seen fit to<\/p>\n","protected":false},"author":527297,"featured_media":474703,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"","_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[11996,16200,12040,12046],"tags":[13306,20351,18238,15167],"class_list":["post-474702","post","type-post","status-publish","format-aside","has-post-thumbnail","category-finance-en","category-insurance","category-international-institutions","category-leaders-en","tag-african-insurance","tag-african-insurance-organization","tag-sector","tag-zlecaf","post_format-post-format-aside","pmpro-has-access"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Zlecaf is of interest to the African insurance sector - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. 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