Broker sector worse hit by state interference - IBAG president reveals
Stephen Kwarteng Yeboah, President of the Insurance Brokers Association of Ghana, says the broker segment of Ghana's insurance industry is the hardest hit by growing state interference. Speaking on PM Express on Joy News on Tuesday, he described the situation as dire, warning that the trend is undermining brokers' role. He said, "when you come to the broker sector, it's worse, it is absolutely terrible."
At the association's annual conference in Accra on March 26, Sam Jonah warned of a "deeply corrosive" crisis facing the industry, driven by interference, unethical conduct, and systemic distortions. Mr. Yeboah linked the situation to a broader environment where political affiliation is increasingly seen as a factor in doing business. He said that now you need to have either a blue or green hat to be able to do insurance business in Ghana, and that's not healthy.
Mr. Yeboah maintained that the increasing politicisation is distorting competition and weakening professionalism across the sector, with brokers facing the most intense pressure.
Quick Summary
IBAG's President, Stephen Kwarteng Yeboah, highlights growing state interference in Ghana's insurance sector- with brokers feeling it most. He warns of a deeply corrosive crisis undermining their role- driven by unethical conduct and systemic distortions.
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