The Ministry of Finance has announced that, effective February 1, 2026, all cargo imports into Ghana will be required to be insured locally, a move expected to significantly deepen the domestic insurance market and retain premiums within the economy.
According to the Ministry, the directive—issued under Section 222 of the Insurance Act, 2021 (Act 1061)—will be enforced in collaboration with the Ghana Revenue Authority (GRA) and the National Insurance Commission (NIC).
Speaking on behalf of the Finance Minister, Dr. Cassiel Ato Forson, at the investiture ceremony of the 11th President (Stephen Kwarteng Yeboah) and Executive Council of Insurance Brokers Association of Ghana, the Director of the Financial Sector Division at the Ministry of Finance, Louis Amu, said the policy comes at a time of improving macroeconomic conditions that create opportunities for insurers and brokers to scale up.
“Compliance with this directive is not optional,” he said.
“Ghana’s economy has stabilised and returned to a path of inclusive growth,” he said, citing 6.1% GDP growth in the first three quarters of 2025, inflation easing to 5.4% by December, and a more stable exchange rate.
These, he noted, should enable industry players to “expand market reach, improve risk coverage and support productive economic activity.”
Mr. Amu also revealed that government has rolled out a 10-year Insurance Master Plan starting in 2026, aimed at “expanding insurance penetration, promoting financial inclusion, encouraging innovation and digitalisation, and positioning Ghana as a competitive regional insurance hub.”
While insurance sector assets grew 18.6% to GH¢17.9 billion, he said this remains “insufficient relative to the size and needs of the economy,” signalling tighter expectations on performance, professionalism and market impact from insurers and brokers going forward.
