The President of the Insurance Brokers Association of Ghana, Stephen Kwarteng Yeboah, has raised concerns that Ghana’s insurance industry is becoming increasingly politicised, warning that business survival is now being linked to political affiliation.
His remarks follow concerns expressed by Sam Jonah, who described the sector as facing a “deeply corrosive” crisis driven by political interference and unethical practices.
Speaking on Joy News’ PM Express on Tuesday, Mr Yeboah said the issues highlighted at IBAG’s annual conference in Accra reflect a troubling reality within the industry. He explained that the conference theme focused on building resilience in a politically polarised environment, a situation he believes is now affecting how business is conducted.
“Hitherto, we didn’t have this level of polarisation, but it has crept into the insurance industry. Now you need to have either a blue or green hat to operate, and that is not healthy,” he said.
According to him, the deepening political divisions in the country are influencing decision-making and opportunities within the sector, creating an uneven playing field for industry players.
Mr Yeboah noted that even participants at the conference were struck by the depth of insight shared by Sam Jonah, particularly given his experience as a key player in the business landscape.
He further warned that the situation is especially challenging within the brokerage segment of the industry, where political considerations are increasingly shaping access to business opportunities.
