Public ID: PID-GEL3Z9
Local presence requirements exclude UK insurers from Ghana
Trade barrier summary
UK businesses hedging risks on global markets cannot offer insurance to Ghanaian customers. This is unless they move their investments within Ghanaian jurisdiction.
All businesses in Ghana must get insurance from local providers. This rule is set out in Section 2 of the National Insurance Act. It aims to cover risk within the country and support local insurance providers.
The legislation hinders Ghana's insurance sector. It limits the use of international mechanisms to safeguard risks.
- Financial and professional services
30 September 2020
25 November 2021