The Insurance Brokers Association of Ghana (IBAG) has sworn in a new council with a focus on reforming and strengthening the insurance broking sector.

The council is led by Stephen Kwarteng Yeboah, Managing Director of OLEA M&G Insurance Brokers Ltd, who now serves as the 11th President. Bianca Noshie is the Vice President. Other members include Kofi Okoampah Akoto, supported by Sheila Wristberg, Philip Atinga with Leticia Baidoo, and Shaibu Ali as Ex-Officio member.
The ceremony took place in Accra. It brought together industry professionals, including Dr Abiba Zakariah, who chaired the event, and Nana Appiagyei Dankawoso I as Special Guest of Honour.
In his address, Mr. Yeboah thanked past leaders and stakeholders for their role in IBAG’s growth. He said his new role carries both honour and responsibility and promised to lead with clear direction and teamwork. He outlined plans to improve professionalism, strengthen regulation, and protect brokers’ interests.
A key focus is training. IBAG will run practical programmes for brokers in partnership with Ghana Insurance University College.
Mr. Yeboah also plans to work with the National Insurance Commission to simplify regulations, especially issues with multiple licences. He called for better methods to measure Ghana’s insurance penetration, with attention to medical insurance.
The council also aims to set clear rules for engaging and disengaging brokers, revisit the idea of an upstream energy insurance pool, and develop IBAG’s property at Kanda to serve as its secretariat and a base for GIICU.
He assured stakeholders that the council will build on existing programmes, work closely with regulators, and address unethical practices to improve discipline in the market.
At the event, Louisa K. Amo from the Ministry of Finance urged the industry to play a stronger role in national development. She noted that the sector’s current impact falls short of the economy’s needs. She added that despite stability after the Domestic Debt Exchange Programme, the insurance sector must expand coverage, improve service, and build public trust.
Dr Zakariah congratulated the new council and said Mr Yeboah’s appointment reflects trust in his competence and integrity. She stressed that brokers play a key role in giving access to insurance, protecting clients, and building trust. She added that the Commission will continue to support IBAG in promoting professionalism, compliance, and growth in the industry.