Information

This barrier is unrelated to the end of the transition period, following the United Kingdom's departure from the EU.

Public ID: PID-GEL3Z9

Local presence requirements exclude UK insurers from Ghana

in 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.

Sectors affected

  • Financial and professional services

Resolved

No

Date reported

30 September 2020

Last updated

25 November 2021

Public ID

PID-GEL3Z9

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