New draft opens Ethiopia's insurance sector to foreign investment

27. april 2026

Rapporteret af AI

Ethiopia has drafted a new Insurance Proclamation to open its insurance sector to foreign investment for the first time. The move aligns with recent liberalizations in banking and telecommunications.

Ethiopia's government has prepared a draft Insurance Proclamation to allow foreign insurers into the market, ending decades of exclusive domestic control. Foreign firms will operate via local subsidiaries, and engagement with international reinsurers will boost capacity and risk distribution.

The proclamation establishes the Ethiopian Insurance Regulatory Authority (EIRA) as an independent body, transferring oversight from the National Bank of Ethiopia (NBE). EIRA will handle licensing, governance monitoring, and inspections.

A regulatory sandbox will enable testing of innovative products, including FinTech services. Banks and microfinance institutions can sell insurance through bancassurance, with micro-insurance and index-based products for agriculture.

Safety measures include mandatory external actuaries, a resolution authority for insolvency cases, and an Insurance Policyholders Protection Fund set by the Council of Ministers.

Relaterede artikler

National Bank of Ethiopia announces major forex liberalizations

The National Bank of Ethiopia announced key foreign exchange liberalizations on February 11, 2026, to enhance the market's efficiency and transparency. These measures build on macroeconomic reforms and draw from IMF policy advice. Notably, service exporters can now retain 100 percent of proceeds indefinitely, and bureau limits have been raised.

IRA places three insurance firms under statutory management

10. marts 2026 Rapporteret af AI

The Insurance Regulatory Authority (IRA) has placed KUSCCO Mutual Assurance Ltd, Trident Insurance Company Ltd, and Corporate Insurance Company Ltd under statutory management effective March 10, 2026. The firms cannot issue new policies from March 11, and existing policyholders are advised to seek alternative coverage.

Afrika

Ethiopia approves 1.5% telecom revenue levy for rural digital fund

Afrika

Egypt's FRA mandates insurance for consumer finance clients against death and disability

Afrika

Egypt's FRA tightens licensing framework for futures brokerage

New media regulatory system ensures accountability

Ethiopia's new media regulatory and administration system ensures accountability based on evidence, officials say. National Information Security Service Director General Ambassador Redwan Hussien announced this. The system was developed in collaboration with the Artificial Intelligence Institute.

FRA issues rules for registration of risk assessment experts

2. maj 2026 Rapporteret af AI

Egypt's Financial Regulatory Authority (FRA) has issued Decision No. 54 of 2026, outlining conditions and procedures for registering and practicing risk assessment and loss inspection experts. The decision completes the legislative framework for the insurance sector under the Unified Insurance Law No. 155 of 2024. FRA chair Islam Azzam stated it ensures professional standards and bolsters market confidence.

Afrika