By James Kanu
Sierra Leone’s President, Julius Maada Bio, on Tuesday inaugurated the headquarters of the West African Insurance Companies Association Reinsurance Corporation (WAICA Re) in Freetown, reaffirming the country’s ambition to position itself as a regional financial and investment hub.
The new headquarters, located at Hill Station, marks a milestone for both Sierra Leone and WAICA Re, a regional reinsurance institution established under a 2011 agreement with the government.
In his keynote address, Bio said the commissioning underscored Sierra Leone’s commitment to maintaining a stable legal and regulatory environment for investors, adding that the government would continue to honor its obligations under the headquarters agreement.
“Sierra Leone is open for credible investment and honors its agreements; we welcome institutions that contribute to regional cooperation and economic resilience,” he said.
Bio noted that the establishment of a permanent headquarters fulfilled a long-standing commitment and demonstrated progress in strengthening the country’s financial services sector.
WAICA Re’s Group Managing Director and Chief Executive Officer, Abiola E. Ekundayo, thanked the government and people of Sierra Leone for their continued support since the corporation’s inception, describing the new facility as a symbol of the institution’s growth and long-term commitment to Africa.
Group Chairman of WAICA, Kofi Duffuor, also commended the government and parliament for hosting the institution, praising the administration’s commitment to upholding agreements and fostering regional cooperation.
The commissioning is expected to bolster Sierra Leone’s role in regional financial services and support broader economic integration efforts across West Africa.
