The NDSI participated in the recently concluded Annual General Assembly of the African Insurance Organization (AIO), where it was hosted a panel session on whether African insurance markets can afford the cost of ESG amid the continent’s high debt levels. It became clear that ESG adoption is not just necessary, but increasingly vital for the insurance sector to attract future investment. Strengthening collaboration between national regulators and private sector insurers was identified as key to accelerating this shift.

Importantly, managing debt and ESG risks were recognized as complementary strategies essential for long-term economic resilience. The conversation emphasized that ESG should not be viewed as a burden, but rather as a strategic business opportunity.

The insurance sector’s commitment to addressing climate risk continues to grow, and in this spirit, the NDSI is proud to welcome 17 new signatories following the AIO Conference. We look forward to working with these forward-thinking organizations to co-create solutions that enhance the resilience of African businesses and communities.