Ghana’s Ministry of Finance has inaugurated a newly appointed seven-member Governing Board of the National Insurance Commission (NIC), tasking it with strengthening regulation of the insurance sector and improving the Commission’s efficiency and transparency. The Board is chaired by Christopher Boadi-Mensah and includes Abiba Zakariah (NIC), David Klotey Collison (Ministry of Finance), Emmanuel Amofa (Ghana Bar Association), Mathew Kwaku Atta Aidoo (Insurance Industry Trade Bodies), Jean-Marie Formadi (Member of Parliament and presidential nominee), and Simon Akibanga Aworigo (presidential nominee). At the Accra ceremony, Deputy Minister for Finance Thomas Nyarko Ampem administered the oaths on behalf of Finance Minister Cassiel Ato Forson, and called for a focus on regulatory reform, transparency, inclusivity, consumer trust and wider insurance coverage. The Board’s stated priorities include strengthening regulatory frameworks, enhancing monitoring and compliance, improving public understanding of insurance, and increasing penetration in underserved areas while keeping services accessible and affordable.
Ministry of Finance (Ghana) 2025-05-19
Ghana’s Ministry of Finance inaugurates new National Insurance Commission governing board to drive regulatory reform and transparency
Ghana’s Ministry of Finance has inaugurated a new seven-member Governing Board of the National Insurance Commission (NIC) to enhance regulation, efficiency, and transparency in the insurance sector. Chaired by Christopher Boadi-Mensah, the Board aims to strengthen regulatory frameworks, improve public understanding, and increase insurance penetration in underserved areas. Deputy Minister for Finance Thomas Nyarko Ampem emphasized the importance of reform, transparency, and consumer trust.