Breaking Down Barriers: Preparing Africa's Insurance Market for AfCFTA Success

Author(s)	Agripah Marangwanda
Country	Tanzania
Abstract	This article examines the regulatory challenges that affect the readiness of the African insurance sector for expansion and integration under the African Continental Free Trade Area (AfCFTA) framework. Employing a mixed-methods research design, the study integrates qualitative interviews with senior industry executives and quantitative survey data from key stakeholders to identify and evaluate the primary regulatory barriers impeding market preparedness. The analysis reveals several critical obstacles, including regulatory fragmentation, inconsistent enforcement of standards, and inadequate cross-border coordination. The findings suggest that addressing these challenges is crucial for realizing the full potential of AfCFTA in the insurance sector. The article concludes by providing strategic recommendations aimed at fostering regulatory coherence, enhancing market readiness, and supporting sustainable growth across Africa’s insurance markets.
Keywords	Regulatory Alignment, Market Expansion, African Continental Free Trade Area (AfCFTA), Insurance Sector, Compliance Challenges
Field	Business Administration
Published In	Volume 6, Issue 5, September-October 2024
Published On	2024-09-26
DOI	https://doi.org/10.36948/ijfmr.2024.v06i05.27449

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