The Office of the President has formally acknowledged receipt of a petition from policy think tank IMANI Africa, which raises concerns about political interference in Ghana’s insurance sector, and has assured that President John Dramani Mahama will be briefed on the matter.
In a letter dated April 1, 2026, signed by Secretary to the President, Dr. Callistus Mahama, the Presidency confirmed receipt of IMANI’s March 30 correspondence. The letter, with reference number ORS307/26/487, stated that the petition’s contents “have been duly noted and will be brought to the attention of His Excellency, the President, for his necessary action.”
The response was addressed to IMANI founder Franklin Cudjoe.
Allegations of a ‘Systematic Takeover’
IMANI’s petition, titled “Safeguarding Procurement Integrity, Market Confidence and National Risk Governance in Ghana’s Insurance Sector,” was formally presented to President Mahama during a civil society engagement at the Presidency on March 30.
In the document, Cudjoe warned of what he described as a systematic takeover of the insurance sector by “unseen political hands” hiding behind administrative directives. He alleged that legitimate contracts were being overridden and state insurance business redirected through non-competitive means.
The petition pointed to irregular insurance renewal patterns, reduced participation of private insurers in state-linked placements, and a growing perception of predetermined procurement outcomes. It also cited formal complaints from market players, including GLICO General Insurance, regarding market distortion and concerns over regulatory neutrality.
The Paper Trail
IMANI has since published a full set of documents underpinning its concerns. Central to the issue is a letter dated December 11, 2025, from the State Interests and Governance Authority (SIGA), bearing reference SIGA/SOE.SIC/1225 and the subject heading: “Directive to State-Owned Enterprises to Prioritise the Use of State-Owned Insurance Companies.”
The letter references an earlier communication to CEOs of all state-owned enterprises (SOEs) and specified entities, which SIGA said directed those institutions to prioritise SIC Insurance PLC and SIC Life Company Limited for their insurance needs. The December 11 letter served as a follow-up, requesting compliance reports from SIC, including lists of SOEs doing business with the company, premium volumes, and renewal status.
A second document, a letter from SIC Life to GIHOC Distilleries dated December 23, 2025, showed the directive moving through the system, explicitly referencing guidance from the Ministry of Finance and SIGA while requesting to be “favourably considered” in GIHOC’s upcoming insurance renewal.
Industry Reaction and SIC’s Denial
The controversy has drawn public comment from industry veteran Sir Sam Jonah, who described the alleged interference as “deeply troubling and dangerously systemic,” warning that what was once an occasional disruption had become “more embedded, more dangerous.”
SIC Managing Director James Agyenim-Boateng pushed back on the allegations during an appearance on JoyNews’ Newsnite, insisting the claims were “totally baseless and unfounded.” He argued that SIGA’s communications amounted to encouragement, not a directive.
However, the December 11 letter, authored and signed by SIGA, uses the word “directive” in its subject heading and references “compliance” follow-up in its body, directly contradicting that characterisation.
A Familiar Pattern
Cudjoe’s petition reminded President Mahama that this is not the first time such concerns have emerged during his tenure. In 2014, during his first administration, the Ghana Insurers Association, through the National Insurance Commission, formally petitioned him over the allocation of state insurance business along non-competitive lines. Mahama intervened at the time, reversing the directive and reaffirming that placements must be guided by merit, value for money, and competitive process.
“That the issue has resurfaced during your return to office underscores a deeper structural persistence, but also affirms that you have the credibility, precedent, and institutional memory to correct this drift decisively,” Cudjoe wrote.
Government Communications Minister Felix Kwakye Ofosu had earlier indicated on The Pulse that appropriate action would be taken “where it is required.”
The Presidency has yet to announce any specific next steps or timeline for the President’s response.
