Group Board of Directors

In accordance with the dictates of proper Corporate Governance practices, WAICA Re is directed by a Group Board of Directors, comprising ten members of high repute in the Insurance/Reinsurance, Banking and Oil/Energy Industries.

The full profiles of the Group Board of Directors are outlined below:

Mr. Kofi Duffuor

Chairman

Mr. Kofi Duffuor is the Managing Director of Star Assurance Company Limited, Ghana. Prior to his elevation to the highest executive position in 2001, he was the General Manager in charge of Finance and Administration. He was instrumental in Star Assurance’s restructuring in 1996, as the General Manager. With hard work and dedication, Kofi and his executive team moved Star Assurance from almost the bottom of the league of insurance companies to become the third largest non-life insurance company in Ghana. Star Assurance has also won the prestigious Chartered Institute of Marketing Ghana (CIMG) Insurance Company of the Year award twice under his leadership.

Mr. Duffuor in March 2011, was unanimously appointed by the West African Insurance Companies Association (WAICA) to chair the Board of the newly established WAICA Reinsurance Corporation PLC, a multinational reinsurance company, headquartered in Freetown, Sierra Leone, which currently has a balance sheet size of almost US$100 million as a result of his business acumen and great leadership skills, a position he still occupies.

He was once an executive member of the Ghana Insurers Association and also chairman of the Association’s Finance and Secretariat’s Board Committee. Kofi was adjudged the Best CEO of the Year 2018 – General Insurance Category by the CEOS Network Ghana. He is also a recipient of Ghana Business Leaders Excellence GOLD Award.

Kofi holds a Master of Business Administration degree in Entrepreneurial Management from the University of Ghana. Kofi had his insurance training in the United Kingdom. He is a Chartered Insurer and Fellow of the prestigious Chartered Insurance Institute (FCII) – UK. He is also a Fellow of the Chartered Insurance Institute of Ghana (FCIIG). He is well oriented in insurance management, business development and marketing. He has over twenty eight (28) years’ experience in insurance underwriting, claims management and insurance marketing.

He has attended several conferences and seminars both at home and abroad in insurance management and financial management.

He is married and the marriage is blessed with four (4) children.


Mr. Abiola E. Ekundayo - Group Managing Director/CEO

Group Managing Director/CEO - WAICA Reinsurance Corporation plc

Mr Ekundayo started his insurance career in 1984 with a brokerage firm and later moved to WAPIC Insurance Company Limited. He joined Globe Reinsurance Plc in December 1989.

The hard working and resourceful Mr. Ekundayo was consistently identified with the growth of the company. He was appointed Executive Director in 2000 and was later confirmed as the Deputy Managing Director in 2001. In 2007, he became the Group Managing Director/CEO of the company.

His experience as insurance practitioner covers large areas of the profession including brokerage, marketing, underwriting, reinsurance, investment and risk management. He piloted the company to the Francophone countries in the West Coast thus making Globe Re the first Nigerian Reinsurance Company to do business with the Francophone world, being a bilingual Executive.

He has varied and a broad spectrum experience in executive management and technical educational fields having attended courses, both locally and internationally. These include leading the team course at Lagos Business School, Reinsurance Strategic Management at the prestigious Wit Business School, University of Witwatersrand, Johannesburg, South Africa and Managing People Effectively at D & B Business Training Services, London.

He graduated from the Lagos State Polytechnic where he studied Insurance and holds a Masters Degree in Business Administration (MBA) from Lagos State University, he is a fellow of both Chartered Insurance Institute London (with specialization in reinsurance) and Chartered Institute of Marketing of Nigeria.


Mr. BENJAMIN MUTUKA KAMANGA

Finance Director, Zep – Re (PTA Reinsurance Company Limited)

Mr. Benjamin Mutuka Kamanga is an accountant by profession and an experienced business leader with over 29 years working experience – 16 in executive management, 7 in senior management and 6 in business advisory (Deloitte & Touche).

Over this period, Benjamin has stood out as a diligent and well skilled professional who has a strategic perspective of issues and an entrepreneurial mindset. Has demonstrated ability to lead diverse teams of professionals to new levels of success in highly competitive and fast-paced environments and has strong technical and business qualifications with an Impressive track record.

He obtained a Master of Business Administration from Strathmore business school, Strathmore University, Nairobi, Kenya and a Bachelor of Commerce Degree from the University of Nairobi.

Benjamin Mutuka Kamanga is a member of the Institute of Certified Public Accountants and the Institute of Certified Public Secretaries in Kenya and holds a certificate from the Commonwealth Association of Corporate Governance and is Certified executive Leadership Coach.

He is a diligent and well skilled professional who has a strategic perspective of issues and entrepreneurial mindset. He is currently the Finance Director of Zep – Re (PTA Reinsurance Company Limited) with key responsibilities such as Strategy, Finance, Investment, Performance Management and Member of the Executive Management team.

Prior to his work with Zep – Re (PTA Reinsurance Company Limited), he worked as Chief Accountant and then Assistant General Manager at the Lion of Kenya Insurance Company Limited. In this capacity he successfully executed a product differentiation strategy for the motor business to create a competitive advantage and target premium business; conceptualized and implemented a performance management programmed to attract, retain and reward best performance, developed an IT strategy which is currently being executed by the company.

In addition, Benjamin has attended many other seminars/workshops in and out of Kenya in the areas of Human Resource Management, Investment Management, Taxation, Financial Management, ICT Management, Strategic Management and in Particular Insurance Business Management.

Benjamin Mutuka Kamanga has demonstrated the ability to lead diverse teams of professionals to new levels of success in highly competitive and fast – paced environments and has strong technical and business qualifications with an impressive track record.


Mr. William B. Coker

Director-General WAICA Secretariat

A Gambian by birth and nationality, Mr. William B. Coker started his insurance career in 1980 with the Gambia National Insurance Corporation and rose through the ranks to become its first Deputy Managing Director/Deputy CEO in 1994 and later in 1998 was appointed its Managing Director/CEO. William held this position until 2005 after which he was appointed to his current position as Secretary General/CEO of the West Africa Insurance Companies Association (WAICA) – a sub regional body of insurance institutions in West Africa.

William is a Chartered Insurer after having attending the CII College of Insurance in Sevenoaks, Kent, U.K. and qualifying in 1992 as an Associate of the Chartered Insurance Institute of London, U.K. He attended the prestigious Maastricht School of Management Netherlands and earned a Postgraduate Diploma (with Distinction) in General and Strategic Management in 1995.

He has attended many conferences/seminars/workshops over the years, is currently also a part-time lecturer at the West African Insurance Institute, (WAII) in The Gambia and is a Fellow of that institute. Mr. Coker is also a part-time lecturer at the Ghana Insurance College in Accra, Ghana. Mr. Coker has served or is still serving on numerous Boards of Directors/Governing Councils and such bodies.


OLATOYOSI ALABI (MRS.)

Barrister and Solicitor

Mrs. Olatoyosi Alabi is a Barrister and Solicitor with over 20 years’ experience and proficiency in Intellectual property, notably trademarks enforcement, and has prosecuted and defended a number of lawsuits involving passing off claims, trademark, design, patent and copyright infringement and revocation of trademarks. She also represents clients in Mergers and Acquisitions transactions, advising on transfer and acquisition of IP rights.

She obtained a Master of Arts from Kings college, University of London, United Kingdom and LL. B from the London School of Economics and Political Science and is currently a partner at Olaniwun Ajayi LP, Lagos. As Partner and Former Head, Corporate Affairs, Planning & Strategy she has been charged with ensuring good governance, strategic planning, development of efficient systems and processes, knowledge management, client management and business development.

Mrs. Olatoyosi Alabi’s portfolio as partner currently includes “External Relations” and her role includes a core liaison between the firm and foreign relationship firms and alliances and to ensure effective relationship Management of these partners and growth of the business.

As previous head of the Enterprise practice of Olaniwun Ajayi LP, she led her team as both Company Secretary and Legal Adviser to various clients to wit; in the manufacturing, hospital, and information technology sectors, and advised local and international clients on company law matters and establishment of businesses in Nigeria.

Mrs. Olatoyosi Alabi has a keen interest and growing passion in the dispensation of justice and settlement of disputes through judicial means as well as through alternative dispute mechanisms, notably, mediation.

She has attended several key conferences and knowledge exchange programmes which has also added to her wealth of experience in areas such as Women in Leadership in Law, Growing a thriving IP Practice, Managing Legal Staff & Millennials in a law firm.

In general, Mrs. Olatoyosi Alabi provides thought leadership on subjects within her core legal areas and is passionate about people development and offers coaching and counselling sessions.


Mrs. Senor Thomas-Sowe

Executive Vice Chair - Royal Insurance Gambia Limited

Senor Thomas-Sowe is the Executive Vice Chair, Royal Insurance Gambia Limited. Mrs Senor Thomas-Sowe started her insurance career with Senegambia Insurance Company Limited in 1987 where she rose to the rank of Deputy Manager before which she had been head of various departments. She joined Gamstar Insurance Company Limited in 1996 before joining Global Security Insurance Company limited in 1997 as immediate Assistant to the Managing director.

She joined International Insurance Company Gambia Limited in December 2000 as Technical Manager where she rose to be the Managing Director for 10 years. She retired in February 2013 and was promoted to the Group as Group Chief Operating Officer-Insurance to oversee all the Insurance Companies in the FIBank Group, that is International Insurance Company Limited in Guinea, Liberia, Sierra Leone and The Gambia. She left in February 2014 to take up appointment as Executive Vice Chair Royal Insurance Gambia Limited.

She is an alumnus of the College of Insurance and Risk Management (WAII), a Member of The Chartered Insurance Institute of London as well as Fellow of The West African Insurance Institute. She has attended various courses and Seminars both in The Gambia and abroad. Mrs Senor Thomas-Sowe is a Past President of The Insurance Association of The Gambia, Past President of the West African Insurance Companies Association (WAICA) and was a member of the Governing Council and Academic Board of the West African Insurance Institute.

She currently holds directorships including Group Investment Gambia (GIG) and Gambia Radio and Television Services (GRTS).


DR. GEORGE AGYEKUM NANA DONKOR

President of the ECOWAS Bank for Investment and Development (EBID)

Dr George Agyekum Nana Donkor, a Ghanaian lawyer, banker and Marketing Expert was appointed to serve on the Board of WAICA Re in August 2019. He is currently the President of the ECOWAS Bank for Investment and Development (EBID), a regional Bank owned by the fifteen West African States and based in Lome, Togolese Republic. With over twenty-five (25) years in senior management positions, Dr Donkor brings on board a wealth of relevant experience in various disciplines including Finance, Strategic Management, Marketing, Legal, Compliance and Administration. As a veteran in the field of corporate sustainability, Dr. Donkor possesses unique skills in leadership, change management and policy formulation. He has hands-on experience in innovation, organizational design, development and improvement. He has spearheaded and implemented several strategic initiatives in his current role including opening up the Bank’s capital to non-regional members, rating of the Bank by international rating agencies, first time adoption of the International Financial Reporting Standards (IFRS), and valuation of the Bank’s stock. He led the Bank in its first non-deal roadshow initiative into the United States and the United Kingdom financial markets which has paved way for the preparation of the Bank’s maiden issuance of Eurobond. Operationally, he led significant growth in the Bank’s assets, profitability and shareholders’ value creation. Dr Donkor is highly successful in implementing business processes, achieving goals and optimizing business procedures. As an exceptional leader with excellent written and communication skills, he is extremely talented in leading diverse teams from multi-cultural environment.                              

He holds a Doctor of Business Administration (DBA) and a Master of Applied Business Research (MABR) from the SBS Swiss Business School, Zurich, Switzerland. He also earned a Ph.D. (Marketing) from the Commonwealth Open University (CoU), British Virgin Island, and MBA from the University of Ghana Business School, Legon, Accra, Ghana. He also possesses a Postgraduate Certificate in Contemporary Management from the Nobel International Business School (NIBS), Ghana. Dr. Donkor obtained Bachelor of Laws (LLB) degree from the University of Ghana, Legon, Accra, and a Post-graduate Professional Certificate in Law from the Ghana Law School.

 

A Barrister and Solicitor of the Supreme Court of Ghana, he was appointed a Notary Public by the Chief Justice of the Republic of Ghana and sworn into office in February 2010. Dr. Donkor serves and chairs many Boards locally and internationally.


Mr. Mohamed Babatunde Cole

Former Managing Director - National Petroleum (Sierra Leone)

Mr. Mohamed Babatunde Cole holds a first division Bachelor of Engineering degree with Mechanical Option. He has furthered his acquisition of knowledge through several studies and trainings in England, the United States of America, India, Singapore, Kenya among others. With regards to his personal achievements, he has been:

• Director at the Leonoil Company Limited from 1994 to present

• Chairman of the Board of Directors of the Reliance Insurance Trust Corporation (RITCORP), a position he has held from 2004 to present Director at the Ecobank (Sierra Leone) Limited for six years from 2009 to 2014 and Chairman of the Board of Directors for the last four years.

• Director at the Petrol Leone Company Limited.

• Council member of the Sierra Leone Chamber of Commerce, Industry and Agriculture, a position he has held from 2004 to present. He was elected the 1st Vice President of the Chamber of Commerce in 2007 and subsequently the president from 2009 to 2011.

• He is a member of the Freetown Dinner Club;

• Fellow of the Sierra Leone Institution of Engineers;

• Council member of the Professional Engineers Registration Council

He began his illustrious career as Pupil Engineer at the Forest Industry Corporation in 1977 and then as Design and Project Engineer at the Sierra Rutile Limited. In 1982, he joined BP Sierra Leone (which later changed to NP) as Operations Engineer and rose steadily through the ranks at NP as Marketing Manager, General Manager and eventually as Managing Director of the company. As Managing Director, he rebranded the NP Company and took it beyond the boundaries of Sierra Leone to become an international Group structured Company. He retired as Managing Director of the NP Company in 2015.

He is currently the Executive Chairman of the NP Group Limited which is the holding Company for NP Sierra Leone, NP Liberia, NP Gambia, NP Guinea and NP Cote D’Ivoire In summary, Mr. Cole has work experiences spanning over forty years which gives him the required expertise that the Board and WAICA Re would benefit from. He is an energetic and an unassuming person who has developed a mature and responsible approach to any task he undertakes or situation that he is presented with. As a Business executive and professional with several years of experience, he is excellent in working with others to achieve certain objectives on time and with excellence.

He is a shareholder of the WAICA Reinsurance Corporation Plc and he is married with three children.


Dr. Ekow Nyarko Dennis Dadzie

Ekow Nyarko Dadzie-Dennis has an impressive background in Banking and Finance. Having worked for over 25 years in this field, Ekow has attained quality work experience and good managerial exposure. Ekow worked at Standard Chartered Bank for 13 years and through hard work and selfless devotion to duty, attained good working knowledge in retail banking, risk management, credit administration, domestic and foreign operations as well as global markets and asset financing.

He left Standard Chartered Bank Ghana for United Kingdom in 2003 to pursue MSc in International Banking and Finance at Southampton University and completed in 2005. He is also a professional member of Ghana Institute of Bankers and Institute of Financial Services, U.K. and holds BSc in Financial Services and MSc in International Banking and Finance.

Ekow has been a resource material for both the Institute of Bankers Ghana and the Banking College, for the past ten (10) years; He is one of the best resource materials for APEX Bank Ghana Ltd and African Leasing Association (AFRO Lease). His expertise in Leasing and Assets Financing is excellent and has on many occasions been used by International Financial Corporation (IFC) as a resource person in its numerous advocacy and training programs in and out of Ghana.

He is very analytical, results-oriented and very dedicated to his work. He is a team player and a deep thinker.


Mr. Adeyemo Adejumo

Director

Mr. Adeyemo Adejumo is a Chartered Insurer with over 30 (Thirty) years of experience in the Insurance Industry. He is an Associate of the Chartered Insurance Institute of London and a Fellow of the Chartered Insurance Institute of Nigeria.

He holds a Bachelor of Science Degree (BSc.) in Biochemistry from the University of Ife, Ile Ife, Osun State and a Master of Business Administration (MBA) from the University of Lagos, Akoka, Yaba.

Mr. Adeyemo Adejumo worked with the National Insurance Corporation of Nigeria from 1979 to 1986 and then Continental Re were he started as a Technical Manager in 1986 and rose to the position of Managing Director/CEO in October 1995 up to 2010. As a result of his leadership and legacy, Continental Re Plc is a leading Private Reinsurance Company in Africa today.

He served as the President of the Chartered Insurance Institute of Nigeria and presided over the Council of Chartered Insurance Institute and headed various Committees of the Institute to strengthen Corporate Governance.

He also served as a Director on the Board of Equity Life Insurance Company Limited; Great Nigeria Insurance Plc; Zimre-Maputo, Mozambique, Southern Africa; Alliance Capital Stock Brokers; Competent Insurance Brokers; Cornerstone Insurance Company and Royal Exchange General Insurance.

The nature of his work has led him to interact with underwriters such as Munich Re, Swiss Re and Brokers such as Alexander Howden, Steward Wrightson, J. B. Boda and other top professionals in the industry.

He has attended several Professional Development Training in the following areas; Underwriting and Reinsurance, Management Appreciation, Managing by Objectives, Staff Development Workshop, Fire Risk Management and Underwriting, Finance Programme for Senior Executives, Chief Executive Programme.

Mr. Adeyemo Adejumo is the author of several key publications among which are: The Challenges of Continuous Professional Development Insurer’s View Point; The Millenium Bug, Implication for the Insurance Industry; International Trends and Development-Impact on a Regional Market.

He is a highly respected personality in the Africa Insurance Market and also very active in the Africa Insurance Organisation, West Africa Organisation, FANAF and the French Insurance Body.

He is an active advocate for community development and plays a great role in engaging community stakeholders for development.


Mr. Everett J. Clark

Director

Mr. Everett J. Clark holds a Bachelor of Science (BSc.) Degree in Business Administration from the Cuttington University College in Liberia. He is a seasoned development staff and has over Twenty (20) years of experience working for the United Nations Development Programme (UNDP) in Liberia.

In his capacity as Assistant Resident, Representative/Operations at the UNDP, Mr. Everett J. Clark supervised General Services delivery mechanism through regular consultations with the Deputy Resident Representative/Operations (DRRO), organized and implemented cost-recovery strategies and provided support to the DRRO in maintaining and coordinating the machinery to ensure consensus on common service issues.

Prior to his work at the UNDP, he served in various capacities as Underwriting Assistant, Office Manager, Assistant General Manager and then Senior Vice President of National Insurance Brokers. From 1984 to 1989, he also served as Manager, Non-Life Department of National Insurance Corporation of Liberia.

Mr. Everett J. Clark was also the Acting Director of West African Insurance Institute (WAII) in Banjul, The Gambia. He later served as the Chairman, Management Committee for the reactivation of the National Insurance Corporation of Liberia.

From 1993 to 1994, he served as the General Manager of Mano Insurance Corporation and his roles included but not limited to redesigning and implementing  technical and administrative policies; supervising all sectional heads and overall management of staff; ensuring the maintenance of adequate system for financial controls and supervision of reinsurance programs.

He has been presented with several Professional Development Certificates which include but not limited to certificates in Middle Level Insurance Management; Public Procurement; Accounting for Property, Plant and Equipment. Over the years, Everett J. Clark attended several training Programs in Life and Non-Life Insurance, International Marine Insurance, Corporate Security Evaluation and Incident Reporting Workshop.

He also served as an Instructor at the Monrovia College Business Night School, as a visiting Lecturer at the West African Insurance Institute (WAII), and as an Instructor at the University of Liberia. He is presently a part time Lecturer at WAII.