Ghana Insurance Q4 2018
Growing quickly, but remaining largely under-developed, Ghana's insurance industry will present significant growthopportunities to multinational providers and investors over the next few years. Against the backdrop of a fast-growing economy andfalling interest rates, robust consumer and business spending will drive demand for key lines, including life and property insurancecovers, as well as more niche products, such as health and personal accident and credit and financial guarantee insurance. As thecountry's poverty levels continue to fall, we also note the rapidly growing popularity of microinsurance products in the country. Withrelatively few multinationals currently established in Ghana, overseas providers will be able to take advantage of a favourablecompetitive landscape and low penetration levels. However, rising inflationary pressures and potential currency depreciation areamong the headwinds facing investors.
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