IMANI Africa has welcomed a statement by the Ghana Insurers Association (GIA) reaffirming competitive and transparent procurement principles in the placement of public sector insurance business.
In a statement released earlier today, IMANI Africa described GIA’s intervention as a significant contribution to the national conversation on governance and market integrity stating that the call by the Association for no insurer to enjoy automatic entitlement to public insurance business outside proper procurement processes, aligns directly with its concerns raised in recent weeks.
Beyond this, IMANI in the statement also outlined four outcomes it considers necessary for durable clarity in the sector with these outcomes including a reaffirmation that public insurance procurement remains subject to the Public Procurement Act, that no insurer enjoys presumptive preference outside lawful processes, that support for state-linked enterprises must occur within transparent and competitive frameworks, and that inter-trading among state entities must not undermine market integrity or procurement discipline.
IMANI then went ahead to caution the government,that the current issue at hand goes beyond insurance, warning that public procurement is one of the key mechanisms through which the state ensures value for money and accountability in the use of public resources.
The think tank further noted that redistributing existing insurance business among market participants does not in itself deepen insurance penetration, arguing that true sector growth requires broadening coverage, improving claims experience, and bringing more uninsured Ghanaians into the formal insurance ecosystem.
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