Insurance in Africa must evolve beyond its current peripheral role to become a central pillar of the continent’s economic development.
The rise of global debt and fiscal deficiency is affecting Africa’s insurance industry. For insurers, this is not just background noise. It shapes everything — from the investment climate to asset safety, consumer demand to economic stability.
“Insurance in Africa must evolve. It must become more than a peripheral service. It must be a pillar of economic development, a safeguard for families, a driver of credit, and magnet for investment.
Deputy Prime Minister Temesgen Tiruneh said during the opening ceremony of the 51st African Insurance Organization (AIO) Conference and Annual General Assembly
– Tackling sovereign debt essential to build resilient insurance industry: NBE Governor
Tackling sovereign debt is crucial to building dynamic and resilient insurance industry in Africa. Several African countries are implementing crucial economic reforms, backed by international financial institutions and ongoing debt restructuring efforts.
For insurers Sovereign debt levels are not just numbers on balance sheet, but they shape investment strategies, asset liability matching, and, of course, consumer confidence as well. Hence, addressing debt crisis is essential to build a resilient insurance industry in the African continent.
Ethiopia’s ongoing Homegrown Economic Reform Agenda makes the private sector as engine of economic growth, job creation and innovation in Ethiopia. The reforms are modernizing the nation’s financial and insurance sectors to align with international standards, and create a transparent, competitive environment for investment.
Mamo Mihretu, Governor of the National Bank of Ethiopia (NBE) said during the 51st African Insurance Organization (AIO) Conference and General Assembly in Addis Ababa
– Ethiopia targets 100% clean water coverage by 2030: MoWE
Ethiopia is preparing new Water and Energy policy where the preparation is well under way. The draft policy is expected to serve the nation for the next 20 years, ensuring fairness and accessibility to all citizens with fair distribution is one of the basic principles of the water policy.
Ethiopia is advancing efforts to achieve universal clean drinking water access by 2030. To realize this plan, Ethiopia is expanding infrastructure and prioritizing cities with high shortages. Over the past four years, 17 million citizens have gained access to potable water.
The government is implementing targeted initiatives to ensure sustainable supply in underserved areas and to reach full coverage by 2030, coordinated efforts among stakeholders is vital. Parallel to infrastructural development, collaborative action among stakeholders is crucial to achieve nationwide clean water access and energy sustainability.
Engineer Habtamu Itefa (PhD), Water and Energy Minister said during a discussion with stakeholders
– Over one million youths enrolling the 5 Million Ethio Coders Initiative: MInT
Ethiopia’s 5 Million Coders Program has reached a major milestone, with over one million young Ethiopians enrolling in its first ten months. The initiative aims to equip the workforce with digital skills as part of Ethiopia’s Digital 2025 strategy.
So far, over 400,000 trainees already graduated and certified in fields like web development, Android programming, and data science, the program seeks to train 5 million citizens at the end of the initiative.
Abiyot Bayou (PhD), Senior Advisor to the Minister of Ministry of Innovation and Technology (MInT)
– Ethiopia repatriates over 700 stranded citizens from Myanmar: MoFA
The Ethiopian government is committed to assisting Ethiopians in dire situation abroad. With its citizen-centered diplomacy, the Ethiopian government has successfully repatriated more than 700 citizens who were stranded in Myanmar under dire conditions.
The government remains dedicated to repatriating other Ethiopians in distress across various countries. The government will continue its efforts to repatriate citizens in dire situation and to combat to illegal migration. The public should avoid using unlawful migration channels.
Despite repeated advisories against illegal migration, many citizens continue to use unauthorized channels to travel overseas.
Ambassador Nebiat Getachew, Ministry of Foreign Affairs (MoFA) Spokesperson
THE ETHIOPIAN HERALD SATURDAY 31 MAY 2025
