Business A.M
No Result
View All Result
Saturday, October 17, 2026
  • Login
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • ONLINE & DIGITAL CONTENT PACKAGE
Subscribe
Business A.M
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • ONLINE & DIGITAL CONTENT PACKAGE
No Result
View All Result
Business A.M
No Result
View All Result
Home Insurance & Pension Business

ABSF reimagines Africa’s insurance narrative through storytelling

by Joy Agwunobi
April 9, 2026
in Insurance & Pension Business
ABSF reimagines Africa’s insurance narrative through storytelling

The Africa Bancassurance Storytellers Forum Conference and Film Showcase 2026 is set to bring a fresh narrative to Africa’s insurance industry as stakeholders prepare to gather in Lagos for a unique blend of dialogue, film, and industry engagement.

Scheduled for May 23, 2026, at Radisson Blu Hotel Ikeja, the event will centre on the theme, “From Tales to Trust: Reimagining Africa’s Insurance Story,” a concept designed to reposition insurance through the lens of storytelling and human experience.

Speaking ahead of the conference, Chima Nwachukwu, convener of the ABSF, said the initiative is a deliberate attempt to address one of the industry’s long-standing challenges of public perception. He noted that while insurance has inherent value, its adoption across many African markets has been constrained by a lack of relatable narratives that connect with everyday realities.

“In many African homes, stories are not told for entertainment alone; they serve as bridges between ignorance and understanding. Insurance in Africa has long suffered not from lack of value, but from lack of story,” he said.

According to him, the forum is designed to move insurance away from abstract concepts and reposition it as a lived experience that resonates with individuals and communities. He added that through storytelling, film, and open dialogue, the platform seeks to give the industry a more authentic and accessible voice.

Participants attending the event are expected to experience more than a conventional conference format.The gathering will feature the unveiling of what is described as Africa’s first insurance-themed storytelling film experience, where themes such as risk, protection, relationships, and everyday life are explored through relatable narratives.

Beyond the film showcase, the programme will host in-depth conversations aligned with the event’s central theme, alongside discussions involving regulators, innovators, and practitioners working to shape the future of insurance across the continent. Networking sessions and an award segment recognising individuals who have contributed significantly to the growth of the industry in Africa are also part of the agenda.

The conference will bring together a broad mix of industry leaders and stakeholders across Nigeria’s insurance ecosystem, alongside representatives from the broader African market, reflecting the industry’s growing emphasis on collaboration and shared growth.

Leading the event as conference chairman is Rotimi Olukorede, managing director and chief executive officer of Floodgate Insurance Brokers Limited. He will be joined by Ekeoma Ezeibe, president of the Nigerian Council of Registered Insurance Brokers, who will attend as special guest of honour.

Delivering the keynote address is Shina Gbadegesin, managing director of GOXI Microinsurance Company Limited, while other prominent figures expected at the conference include Bola Odukale, director-general of the Nigerian Insurers Association, and Kunle Ahmed, chairman of the same body.

Other distinguished industry leaders are Yetunde Ilori, president of the Chartered Insurance Institute of Nigeria; Patrick Loweh, president of the African Association of Young Insurance Professionals; Joyce Odiachi, acting managing director of International Energy Insurance; and Abimbola Tiamiyu, registrar of the CIIN.

The list also extends to Jeff Duru, managing director of Universal Insurance Plc, as well as Chizoba Perpetua Ehiogu, rector of the College of Insurance and Financial Management.

Beyond Nigeria, the conference will also draw virtual participation from leading voices across the continent, underscoring its pan-African outlook. These include Abiba Zakariah, commissioner for insurance in Ghana; Patty Martin-Karuaihe, managing director and chief executive officer of Namib Reinsurance; Rose Wanda of the Organisation of East and Southern Africa Insurers; and Getachew Beshahwred, a Chartered Insurance Institute ambassador to Ethiopia.

The breadth of participation highlights a deliberate effort to deepen cross-border engagement, facilitate knowledge exchange, and strengthen ties within Africa’s insurance industry as it navigates evolving risks and emerging opportunities.

Nwachukwu emphasised that the forum should be seen as more than a one-off gathering, describing it as the beginning of a broader movement aimed at reshaping how insurance is perceived across the continent.

“I see this not as an event, but as a seed. ABSF is planting a new narrative, one where insurance is no longer feared, ignored, or misunderstood, but embraced as a trusted companion in life’s journey,” he said.

Joy Agwunobi
Joy Agwunobi
Previous Post

$40 smartphones face network reality check in Nigeria

Next Post

Climate change threatens Nigeria, Africa’s cassava production

Next Post
Climate change threatens Nigeria, Africa’s cassava production

Climate change threatens Nigeria, Africa’s cassava production

  • Trending
  • Comments
  • Latest

How UNESCO got it wrong in Africa

May 30, 2017

CBN to issue N1.5bn loan for youth led agric expansion in Plateau

July 29, 2025
MMA2 enters new commercial era after 20-year concession dispute

MMA2 enters new commercial era after 20-year concession dispute

August 28, 2026
NGX taps tech advancements to drive N4.63tr capital growth in H1

Insurance-fuelled rally pushes NGX to record high

August 8, 2025

6 MLB teams that could use upgrades at the trade deadline

Top NFL Draft picks react to their Madden NFL 16 ratings

Paul Pierce said there was ‘no way’ he could play for Lakers

Arian Foster agrees to buy books for a fan after he asked on Twitter

Methane rules spread across 67% of global production as Nigeria faces compliance test 

Methane rules spread across 67% of global production as Nigeria faces compliance test 

October 17, 2026
Onafriq, a pan-African payments company, is set to discontinue its Baxi agent banking business in Nigeria after five years, citing naira depreciation, rising operating costs and intensifying competition that have weakened the segment’s profitability. The planned shutdown will affect the agent banking operations conducted through Baxi under Onafriq Nigeria Payments Limited. However, the decision does not signal the company’s withdrawal from Nigeria, as it intends to retain its cross-border payments network and card issuing services in the country. In a statement, Onafriq said changes in Nigeria’s operating environment since 2024 had significantly altered the economics of its offline agent banking business, making the existing model unsustainable. The move marks a strategic shift for the company, which entered Nigeria’s agent banking market to expand access to financial services through a network of agents providing transaction services outside traditional bank branches. Onafriq attributed the decision to a combination of macroeconomic pressures and structural changes in the country’s payments industry. According to the company, naira depreciation and inflation have affected transaction volumes, increased operating expenses and undermined the sustainability of its agent banking operations. The growing adoption of instant account-to-account transfers has also changed the mix of transactions handled by agents, while heightened competition among payment service providers has put further pressure on margins. These developments have made it increasingly difficult for the business to remain viable under its existing operating structure, prompting the company to reassess its long-term strategy. Dare Okoudjou, founder and chief executive officer of Onafriq, said the decision to close the business was difficult, particularly given the efforts of employees, agents and business partners who helped build the Baxi network. “We entered Nigeria with conviction and commitment, but did not achieve the outcome we set out for. Closing this business was a difficult decision to arrive at, one that affects colleagues, agents, and business partners across Nigeria who poured their hearts and soul into building out the Baxi network,” Okoudjou said. Despite the closure, he reaffirmed the company’s commitment to the Nigerian market, noting that the group would continue to serve customers through its payments network and card issuing operations. Onafriq entered Nigeria’s agent banking market in 2021 through the acquisition of Baxi, also known as Capricorn Digital Limited. The company said it continued investing in the business through 2023, with efforts focused on expanding and strengthening its agent network. However, a subsequent review of the business’s long-term prospects and financial sustainability led to the decision to wind down the operation. As part of the transition, Onafriq said agents onboarded through the Baxi platform had been moved to another principal bank, a step intended to facilitate continuity for the affected agents. The company has also directed agents to transfer their funds to their preferred principal bank within 30 days, adding that its teams would provide support throughout the transition process. Employees whose roles are linked to the agent banking business will also be consulted and supported during the wind-down, with Onafriq pledging to treat affected workers fairly.

Onafriq winds down Baxi as Nigeria’s agent banking economics worsen

October 17, 2026
LCFE links petroleum trading to capital market in pricing transparency drive

LCFE links petroleum trading to capital market in pricing transparency drive

October 17, 2026
Copper rebounds to $14,480 as US tariff risks cloud price outlook

Copper rebounds to $14,480 as US tariff risks cloud price outlook

October 17, 2026

Popular News

  • How UNESCO got it wrong in Africa

    0 shares
    Share 0 Tweet 0
  • CBN to issue N1.5bn loan for youth led agric expansion in Plateau

    0 shares
    Share 0 Tweet 0
  • MMA2 enters new commercial era after 20-year concession dispute

    0 shares
    Share 0 Tweet 0
  • Insurance-fuelled rally pushes NGX to record high

    0 shares
    Share 0 Tweet 0
  • Glo, Dangote, Airtel, 7 others prequalified to bid for 9Mobile acquisition

    0 shares
    Share 0 Tweet 0
Currently Playing

CNN on Nigeria Aviation

CNN on Nigeria Aviation

Business AM TV

Edeme Kelikume Interview With Business AM TV

Business AM TV

Business A M 2021 Mutual Funds Outlook And Award Promo Video

Business AM TV

Recent News

Methane rules spread across 67% of global production as Nigeria faces compliance test 

Methane rules spread across 67% of global production as Nigeria faces compliance test 

October 17, 2026
Onafriq, a pan-African payments company, is set to discontinue its Baxi agent banking business in Nigeria after five years, citing naira depreciation, rising operating costs and intensifying competition that have weakened the segment’s profitability. The planned shutdown will affect the agent banking operations conducted through Baxi under Onafriq Nigeria Payments Limited. However, the decision does not signal the company’s withdrawal from Nigeria, as it intends to retain its cross-border payments network and card issuing services in the country. In a statement, Onafriq said changes in Nigeria’s operating environment since 2024 had significantly altered the economics of its offline agent banking business, making the existing model unsustainable. The move marks a strategic shift for the company, which entered Nigeria’s agent banking market to expand access to financial services through a network of agents providing transaction services outside traditional bank branches. Onafriq attributed the decision to a combination of macroeconomic pressures and structural changes in the country’s payments industry. According to the company, naira depreciation and inflation have affected transaction volumes, increased operating expenses and undermined the sustainability of its agent banking operations. The growing adoption of instant account-to-account transfers has also changed the mix of transactions handled by agents, while heightened competition among payment service providers has put further pressure on margins. These developments have made it increasingly difficult for the business to remain viable under its existing operating structure, prompting the company to reassess its long-term strategy. Dare Okoudjou, founder and chief executive officer of Onafriq, said the decision to close the business was difficult, particularly given the efforts of employees, agents and business partners who helped build the Baxi network. “We entered Nigeria with conviction and commitment, but did not achieve the outcome we set out for. Closing this business was a difficult decision to arrive at, one that affects colleagues, agents, and business partners across Nigeria who poured their hearts and soul into building out the Baxi network,” Okoudjou said. Despite the closure, he reaffirmed the company’s commitment to the Nigerian market, noting that the group would continue to serve customers through its payments network and card issuing operations. Onafriq entered Nigeria’s agent banking market in 2021 through the acquisition of Baxi, also known as Capricorn Digital Limited. The company said it continued investing in the business through 2023, with efforts focused on expanding and strengthening its agent network. However, a subsequent review of the business’s long-term prospects and financial sustainability led to the decision to wind down the operation. As part of the transition, Onafriq said agents onboarded through the Baxi platform had been moved to another principal bank, a step intended to facilitate continuity for the affected agents. The company has also directed agents to transfer their funds to their preferred principal bank within 30 days, adding that its teams would provide support throughout the transition process. Employees whose roles are linked to the agent banking business will also be consulted and supported during the wind-down, with Onafriq pledging to treat affected workers fairly.

Onafriq winds down Baxi as Nigeria’s agent banking economics worsen

October 17, 2026

Categories

  • Frontpage
  • Analyst Insight
  • Business AM TV
  • Comments
  • Commodities
  • Finance
  • Markets
  • Technology
  • The Business Traveller & Hospitality
  • World Business & Economy

Site Navigation

  • Home
  • About Us
  • Contact Us
  • Privacy & Policy
Business A.M

BusinessAMLive (businessamlive.com) is a leading online business news and information platform focused on providing timely, insightful and comprehensive coverage of economic, financial, and business developments in Nigeria, Africa and around the world.

© 2026 Business A.M

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • ONLINE & DIGITAL CONTENT PACKAGE

© 2026 Business A.M