Asantehene urges insurance companies to support housing industry

BY: Daniel Kenu
Mr Forkuo Kyei, Vice-President of the association (with microphone) led his team to greet Otumfuo
Mr Forkuo Kyei, Vice-President of the association (with microphone) led his team to greet Otumfuo

The Asantehene, Otumfuo Osei Tutu II, has charged the Ghana Insurers Association (GIA) to ensure that its members created a variety of funding modules to assist workers own their individual houses with ease.

He said in the face of low salary levels among workers, insurance companies needed to help in the mortgage system to encourage individuals, especially workers to own their own houses.

Otumfuo gave the advice at last Wednesday's Awukudae celebration at the Manhyia Palace in Kumasi where members of the GIA called on him to wish him well.


It is celebrated nine times in a year within every 42 days intervals per the Asante calendar.

It is a day of remembering the heroes of the kingdom, mainly chiefs from the various stools.

On such occasion, the  Asantehene visits the Banmu or the burial sites of all the dead chiefs to perform rituals before sitting in state to receive guests.


The Asantehene said insurance companies ought to do more in educating people to see insurance beyond just their vehicles.

He expressed worry at the over concentration of  motor insurance to a holistic approach insurance covering both private and public facilities.

While commending the GIA for helping uphold standards, Otumfuo urged the association to encourage long term investment policies to promote development.

He said Ghana's developmental agenda largely depended on how well they invested their resources and churning out right policies.


The First Vice-President of  the GIA and Managing Director of GLICO Life, Mr Edward Forkuo Kyei, assured Otumfuo of the association's preparedness to assist and roll out policies that would inure to the benefit of Ghanaians.

He said the association was working hard to correct some erroneous impression associated with insurance in general through proper education.