Namibia to host African insurance regulators’ regional seminar

The Namibia Financial Institutions Supervisory Authority (Namfisa) chief executive Kenneth Matomola says Namibia is set to host the African insurance regulators’ regional seminar which aims to promote sound financial systems and effective prudential supervision worldwide.

In a statement on Monday, Matomola emphasised the seminar’s significance in collectively addressing the challenges and opportunities facing the insurance sector.

“The potential of the insurance industry as a driver of sustainable development and financial inclusion across Africa, underscores the need to bridge protection gaps and increase insurance penetration rates for greater inclusivity and sustainability,” said Matomola.

The seminar will focus on capacity building and will also delve into various gaps that hinder progress and sustainability of the insurance industry.
These include protection gaps stemming from climate change, barriers to financial inclusion, technology challenges and opportunities, particularly in the realm of supervisory technology (SupTech), and skills shortages within the sector.

The event will include insightful discussions, interactive workshops, and knowledge-sharing.

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