The high-level panel session under the theme, “Strengthening Africa’s Financial Architecture to Finance Agenda 2063”, highlighted some of the constraints affecting the development agenda of the continent, including high risk perception, limited risk mitigation and unexploited opportunities for domestic resource mobilization. It positioned AAMFI members as key stakeholders who can help address these challenges through collaboration, advocacy, and partnerships. The session also noted the opportunity that technology presents to address some of these constraints.

Dr. Corneille Karekezi emphasizing institutional collaboration stated: “Africa’s development finance must be anchored in collaboration and innovation. By strategically sharing risk, strengthening our institutions, and mobilizing both domestic and private capital, we can build a resilient financial ecosystem capable of delivering transformative infrastructure and industrial growth across the continent.”

Dr. Corneille Karekezi, in his statement on mobilising domestic capital, highlighted the potential of the insurance industry, comparing African countries to other emerging and advanced economies of the world in terms of insurance penetration

(insurance premium income over GDP) and insurance assets size (insurance assets over GDP). He noted that insurance is a goldmine and advocated that the continent should engage in policy reforms that prioritize risk sharing through local content policies and African preference at regional and continental levels before engaging the international market.