Ethiopia Realizing Very Much Needed Reforms in Financial Sector: AIO President

Addis Ababa, May, 28, 2025 (ENA) -- Ethiopia is implementing the very much needed reforms in the financial sector, Africa Insurance Organization (AIO) President Patty Karuaihe-Martin told ENA.

The president who took part in the 51st African Insurance Organization (AIO) Conference held in Addis Ababa, Ethiopia, said the country's progress in the financial sector in particular and its comprehensive economic reform in general is conspicuous.

She added that the rest of Africa is looking forward to do more business with the country which has been setting the pace of reforms in the financial sector.

And “together as partners, we will definitely collaborate and learn from each other,” Karuaihe-Martin stated.

According to her, there would be more harmonization in terms of the regulations and the laws in the insurance sector and in the financial sector in Africa.

Commenting on the continental conference that concluded, the president said “we had a very successful annual general assembly and annual conference. We had close to 2,000 participants, and everything went absolutely successful.”

She expressed her gratitude to the Government of Ethiopia for the best hospitality and treatment.

“The conference brings us together to network, to do bilateral relations, and also to come together as partners, to collaborate, to have various discussions; and we have just achieved that.”

The debt situation in Africa, the impact it is having on the insurance sector and possible solutions were among the major discussion topics during the conference.

 

AIO Vice President Yared Molla said the participants had the chance to see Ethiopia’s hospitality and its massive economic reform.

The country also had the chance to share best experiences from other countries in the insurance industry.