News
COVID-19: Insurers discuss impact on industry
Krif Ghana Limited, distributors of office stationery and equipment, and publishers of Integrity Magazine, has held its 4th Webinar series on the effects of COVID-19 on Corporate Ghana.
Last Tuesday’s event, which focused on the insurance industry, brought on board insurers across the country, who touched on various aspects of the insurance sector, with a call on Ghanaians to “be interested in insurance”.
Experts took turns to explain the present and future outlook of the insurance industry amidst the COVID-19 outbreak.
Rev. Kennedy Okosun, the Chief Executive Officer of Krif Ghana Limited, urged insurance companies to do more in building trust with its stakeholders.
According to him, a well-developed insurance industry was “a requisite necessity in the efforts to improve the stability of the financial markets and protect individuals and businesses from losses” in the difficult times of COVID-19.
He believes the period could be “the catalyst for the insurance industry to cash in as the world is at the mercy of natural disasters and accidents.”
Making further reference to the pandemic, he urged the public to ensure they were “well covered and protected in case of any eventuality.”
Mr Edward Forkuo Kyei, Chief Executive Officer, GLICO Group, also agreed that insurance companies could take advantage of the “opportunities amidst the difficulties.”
He said COVID-19 had opened the doors for the use of various technologies to conduct virtual meetings, which were as effective as face-to-face meetings.
“These turbulent times may very well be the turning point that will drive transformational change across the insurance industry. Those who take a customer-first attitude, reset and fundamentally rethink how they do business will find themselves emerging from a position of strength when the dust settles,” he said.
Mr Shaibu Ali, Chief Executive Officer of KEK Reinsurance Brokers (Africa) Ltd said insurance brokers had as well adopted new approaches to doing business and interacting with clients.
Madam Ernestina Abeh, Managing Director of Enterprise Insurance Company Limited, in her analysis, said the country’s general insurance industry had not been plagued by “large claims as a result of the pandemic” as compared with western markets.
She explained that the pandemic had enabled insurance companies to go digital to reduce operational cost to some extent.
By Spectator Reporter
Ghana has made progress in the way it manages public resources and delivers services to citizens, with improvements in financial management and access to education and healthcare helping to raise its governance score.
The country ranked 92nd out of 133 countries worldwide and ninth in Africa in the 2026 Chandler Good Government Index (CGGI), according to a report released last Thursday.
The improvement offers a positive sign for Ghana, although the country still faces challenges in areas such as leadership, long-term planning and creating an attractive environment for businesses.
The index showed that Ghana’s performance in Financial Stewardship, which measures how governments manage public finances and maintain fiscal sustainability, almost doubled this year after declining between 2021 and 2024.
Its score in Helping People Rise, which looks at how government policies and services improve people’s lives, also increased for the second consecutive year, reflecting progress in areas including education and healthcare.
However, the country recorded declines in Leadership and Foresight and Attractive Marketplace, indicating areas where further attention may be needed.
Ghana’s performance comes at a time when several African countries are also making progress in governance. The report found that 71 per cent of African countries assessed in both 2025 and 2026 improved their overall scores.
Dinesh Naidu, Director of Knowledge at Chandler Governance Group, said the continent’s strongest gains were in financial management, followed by efforts to improve citizens’ lives.
He said the progress suggested that improvements in government capabilities were beginning to translate into tangible benefits, including better access to education and healthcare.
However, Africa continues to face significant challenges. Although average scores improved in six of the index’s seven pillars over the past year, the region’s overall average remains below its 2021 level.
The report also found that 23 of the 35 African countries assessed ranked outside the global top 100, while none made it into the top 50.
Globally, 61 per cent of the 120 countries assessed in both 2025 and 2026 recorded higher scores, representing the highest annual share of countries improving since the index began in 2021.
The Chandler Good Government Index assesses government capabilities and effectiveness across 133 countries, representing 94 per cent of the world’s population.
It uses 35 indicators grouped under seven pillars to help governments identify their strengths, recognise gaps and learn from the experiences of other countries.
Mr Naidu said rankings should not be treated as an end in themselves but as a guide to identifying areas that need improvement.
He said sustained progress depended on strong institutions, responsible use of public resources and the ability of governments to turn policies into meaningful outcomes for citizens.
For Ghana, the latest results point to progress in some important areas, while highlighting the need to strengthen other aspects of governance to ensure that improvements are felt in the daily lives of ordinary people.
By Esinam Jemima Kuatsinu
President John Mahama has arrived in Moscow, Russia, from Ethiopia to participate in the 3rd Russia-Africa Summit.
The summit is being hosted by Russian President Vladimir Putin.
During the visit, President Mahama will join fellow African leaders at the Economic and Humanitarian Forum and summit plenary sessions.
He is also scheduled to hold high-level bilateral talks with President Putin and attend a Kente exhibition organised by the Russia-Ghana Parliamentary Forum.
As part of the visit, the President will receive honorary doctorate degrees from the Russian University of Transport and the Peoples’ Friendship University of Russia.
He will also engage Russian businesses and state institutions to advance bilateral cooperation between Ghana and Russia.
By Edem Mensah-Tsotorme
