AYV News, April 2, 2026

Sierra Leone has taken a significant step toward strengthening its role in regional finance with the commissioning of the headquarters of the West African Insurance Companies Association Reinsurance Corporation PLC by President Julius Maada Bio.

The inauguration of the facility signals growing confidence in the country’s financial sector and its ambition to serve as a hub for insurance and reinsurance services in West Africa. President Bio used the occasion to highlight Sierra Leone’s readiness to attract and sustain long-term investment through a stable legal and regulatory framework.

He noted that the project fulfills a commitment made under the 2011 agreement that established WAICA Re in Sierra Leone, describing the new headquarters as a symbol of trust, continuity, and institutional growth. The President reaffirmed government’s obligation to uphold the Headquarters Agreement, ensuring a conducive environment for the corporation’s operations.

“We welcome institutions that contribute to regional cooperation and economic resilience,” President Bio said, adding that Sierra Leone remains committed to honoring its agreements and supporting private sector development.

Group Managing Director and CEO, Abiola E. Ekundayo, praised the government and citizens of Sierra Leone for their longstanding support, noting that the new headquarters represents the company’s expansion and enduring commitment to the African market.

Similarly, Group Chairman Kofi Duffuor commended the government and Parliament for creating a welcoming environment for regional institutions, describing the development as a testament to Sierra Leone’s credibility and leadership in fostering cooperation.

Analysts say the commissioning of WAICA Re’sheadquarters not only enhances Sierra Leone’s investment profile but also strengthens regional collaboration in the financial services sector, positioning the country as a key player in West Africa’s economic landscape.