DAKAR, Senegal, June 23/APO Group: Faced with a major paradox accounting for nearly 19 percent of the world’s population while accounting for less than 1 percent of global insurance premiums African insurance stakeholders are mobilizing resources.
From July 6 to 8, 2026, the Federation of African National Insurance Companies (FANAF) will organize the General Assembly on Insurance for All at the Sofitel Hotel in Cotonou, Benin, a major pan-African gathering dedicated to inclusive insurance.
The event will bring together nearly 400 African decision-makers from governments, regulatory and supervisory authorities, insurance and reinsurance companies, technical and financial partners, as well as professional organizations from across the continent.
The ambition is clear: to foster a shared vision and concrete commitments aimed at accelerating access to insurance, all while strengthening the sector’s contribution to the continent’s economic and social development priorities.
The discussions will culminate in the adoption of the Pan-African Pact for Insurance Inclusion and a 2026–2030 Strategic Action Plan, designed to structure collective action around an ambitious objective: contributing to the doubling of insurance penetration across the FANAF region by 2040.
Within the CIMA zone, insurance penetration remains below 1 percent of GDP, compared to more than 6 percent on the global front. It has led to millions of households, farmers, entrepreneurs, SMEs and informal sector actors remaining deprived of essential protection mechanisms against health, climate, economic and social risks.
For FANAF, this reality now constitutes a major development challenge. “Africa cannot build sustainable growth without strengthening protection mechanisms for its populations, businesses and investments. The Cotonou General Assembly must mark the starting point of a new continental ambition for African insurance and its role in the continent’s economic transformation,” said President of FANAF Mamadou Koné.
The conclusions of the General Assembly will lead to the adoption of the Pan-African Pact for Insurance Inclusion, a reference framework intended to mobilize governments, regulators, market players, financial institutions and development partners around shared objectives.
The Pact will be accompanied by a 2026–2030 Strategic Action Plan defining priority intervention areas, coordination mechanisms and monitoring arrangements for the commitments undertaken.
A broad mobilization of public, private and financial partners will support its implementation in order to translate commitments into tangible results for African populations and economies.
