Board of Directors

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

The full profiles of the Directors on our Board are given below:

Mr. Kofi Duffuor

Chairman

Mr. Kofi Duffuor, 53, 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. Fatai K. Lawal

Managing Director - Sterling Assurance Nigeria Ltd

Mr. Fatai Kayode Lawal is an accomplished Insurance Executive. He holds B.Sc. (Hons.) Insurance and MBA of the University of Lagos, in addition to Fellowship of the Chartered Insurance Institute of London and Nigeria FCII, FIIN. He is an alumnus of the prestigious Lagos Business School (CEP13).

With over twenty five years post qualification experience spanning across Insurance Broking, Direct Insurance, and Reinsurance, Mr. Lawal worked for Glanville Enthoven and Continental Reinsurance Company Limited before assuming the Chief Executive position of Refuge Insurance Company Limited (1993 – 1999) and Universe Reinsurance Company Limited (1999-2007). He is presently the Managing Director/CEO of Sterling Assurance Nigeria Limited, which is a product of a successful merger of Universe Re, Sterling Insurance and Newline Insurance in 2007.

Mr. Lawal is a Council member of both Chartered Insurance Institute of Nigeria and Nigeria Insurers Association. He is an ambassador of the International Insurance Society Inc., USA. FK, as he is popularly known, is a director of Golden Capital Plc and Golden Securities Limited. A devout Muslim, F. K. Lawal is widely travelled and happily married.


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.


Mrs. Alice Onomake

Managing Director - Reliance Insurance Trust Corporation (RITCORP)

Alice Onomake is currently Managing Director/CEO of Reliance Insurance Trust Corporation Limited based in Freetown, Sierra Leone for whom she has worked since completing her undergraduate studies at Fourah Bay College, University of Sierra Leone. Mrs. Onomake has held many of the professional positions within the company but during which time, she has also held numerous positions in insurance and industry in Sierra Leone and the sub region.

She is an Associate of Chartered Insurance Institute of London (ACII) as well as being a Fellow of West Africa Insurance Institute (WAII). Alice also holds an MBA from the University of Sierra Leone and has attended several courses at home and abroad. Alice is also Chairman of the Business Coalition against Aids in Sierra Leone (BCAASL), Chairman of the Capital Discount House Limited, President of the Sierra Leone Insurance Association (SLIA), a member of the Board of Trustees of the University of Sierra Leone as well as being a past President of the West African Insurance Companies Association (WAICA).

Alice continues to serve as a member of the governing council of WAII as well as being Chairman of the Academic Board. Alice has also been a board member of the Sierra Leone Chamber of Commerce, Industry and Agriculture.Alice is married with children.


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

Vice-President (a Deputy CEO) in charge of Finance and Corporate Services 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 Vice-president, Finance and Corporate Services, 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)

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Mr. Ekow Nyarko Dennis Dadzie

Executive Director - Unibank (Ghana)

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