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 Chief Executive Officer of Star Assurance Group Limited, Ghana. Prior to his elevation to the highest executive position in 2020, he was the Managing Director of the Group’s General Insurance Subsidiary – Star Assurance Co. Ltd. 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 over US$260 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 thirty (30) 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. Ezekiel Abiola Ekundayo is a seasoned insurance Practitioner with more than 35 years of experience in the insurance industry.

He started this worthwhile career in 1984 with a broking firm in Lagos, Nigeria.  He worked with WAPIC Insurance Company Limited, Nigeria, for few years before joining Globe Reinsurance PLC in 1989.  The hard-working and resourceful Ezekiel was consistently identified with the company's growth, and in recognition of his contributions, he was appointed Executive Director in 2000 and later confirmed as the Deputy Managing Director in 2001. Ezekiel continued to be result-driven and goal-oriented, and he was eventually appointed as the Managing Director /CEO of the company in 2007. He piloted Globe Re to the Francophone countries on the West African Coast, thus making Globe Re the first Nigerian Reinsurance company to do business with the Francophone world.

Ezekiel Ekundayo joined WAICA Reinsurance Corporation in July, 2011 as the Pioneer MD/CEO.  He started this noble Corporation from the zero level and grew it to become one of the fastest growing/leading reinsurance companies in Africa today.

Under his leadership, the Corporation embarked on strategic business expansion which resulted in the establishment of four (4) Subsidiaries and four (4) regional offices within a short period.

Ezekiel was appointed the Group Managing Director/CEO in September 2018, and he sits on the Boards of the subsidiary companies.

His experience as an insurance practitioner covers wide areas of the profession, including brokerage, marketing, underwriting, reinsurance, investment and risk management. He has varied experience in executive management and technical fields, having attended courses, both locally and internationally. Some of the courses he has attended include 'Leading the Team Course' at Lagos Business school, Nigeria, '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 is a bilingual executive who speaks English and French fluently.

Ezekiel Abiola Ekundayo believes in insurance education and workforce development, as a result of which he has continued to train the younger professionals who can confidently take over tomorrow the mantle of leadership in the insurance profession. He is a member of the Governing Council, West African Insurance Institute. Member, Society of Fellows, West African Insurance Institute. He was conferred with the Fellowship of WAII for Academic Excellence and Development of the West African Insurance Institute, The Gambia, in 2019

He graduated from the Lagos state polytechnic, Nigeria, where he studied Insurance, and he holds a Master of Business Administration (MBA) from the Lagos State University. He is a Fellow of the Chartered Insurance Institute, London (with specialization in Reinsurance) and Chartered Institute of Marketing, Nigeria.


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 Donkor is the President and Chairman of the Board of Directors of the ECOWAS Bank for Investment and Development (EBID), a regional international financial institution belonging to the fifteen (15) ECOWAS Member States namely, Benin, Burkina Faso, Carbo Verde, Cote d’lvoire, The Gambia, Ghana, Guinea Conakry, Guinea Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone and Togo.

Dr. Donkor had previously held the position of Vice-President, Finance and Corporate Services, for seven (7) years and prior to that, Head of Legal Division/Compliance for four (4) years of the same institution. Before joining EBID, Dr. Donkor served in management capacities in many corporate positions including Head of Legal/Compliance for the ARB Apex Bank Limited, Ghana. His professional interest focuses on corporate law, leadership, change management and improvements.

Dr. Donkor has spearheaded and implemented several strategic initiatives in the Bank including opening the Bank’s capital to non-regional members, increasing the Bank’s authorised capital and calling the third tranche of its capital subscription, expanding the Board Committees to include Governance and Ethics Committee and strengthening the Bank’s risk management framework thereby reducing the non-performing loans in the Bank’s portfolio.

A lawyer and a development banker by training, Dr. Donkor’s illustrious career which spans close to three decades has been marked with outstanding success. He focuses on implementing change to drive progress not only in the West Africa sub-region but also stimulate a wider international impact through regional integration and engagement. Under his leadership, EBID has recorded unprecedented achievements including balance sheet growth of 22% and 158% oversubscription of its 2022 UEMOA bond issuance within a space of two (2) years. Additionally, the operational and financial performance recorded during the short period of Dr. Donkor’s leadership has earned the Bank an upgrade in its credit rating from B2 (negative outlook) to B2 (stable outlook) by Moody’s and B (negative outlook) to B (stable outlook) by Fitch rating agencies. Additionally, he has led the Bank to mobilize over one billion United States Dollars (USD 1 billion) within the short period of his appointment as President of the Bank.

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 earned a PhD (Marketing) from the Commonwealth Open University (CoU), British Virgin Island. Furthermore, he obtained an Executive MBA (Marketing) from the University of Ghana Business School, Legon, and 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, and a post graduate professional law certificate from the Ghana School of Law.

He is a Council Member of the University of Ghana and also the Chairman of the Investment Committee of the Council. He is also a Board member of Ecobank Transnational Incorporated (ETI), ASKY Airline, Waica Re Insurance, among others.

Dr. Donkor is a recipient of many awards including the 2022 Prix de la Fondation award at the prestigious Crans Montana Forum, Geneva, Switzerland, and Ghana Innovation Leadership Award organised by the Ghana Innovation/NIBS Award in 2019. He was recently named in the list of 100 personalities who are transforming Africa by financialafrik, a renowned international magazine.

Dr. Donkor is a Speaker and Resource Person of numerous international conferences and fora.


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.


DONALD CHARLES KAYE

Director

Donald Charles Kaye is a highly professional and experienced Accountant in Public Practice with over 38 years’ experience which includes leading KPMG in The Gambia and now PKF in The Gambia as Senior Partner, after working in several KPMG offices in other countries. He is result driven, self-motivated and resourceful with a proven ability to develop and strengthen management teams in order to maximise human capacity.

Donald Kaye’s extreme attention to details has helped companies of all types to maximize investments, cut spending and increase efficiency. He has strong knowledge of governing laws and regulations in the various locations he practiced and how to implement company procedures. He is a successful motivator who brings a good attitude to every meeting. He possesses excellent communication skills and is able to establish sustainable and profitable relationships with stakeholders.

He is a Fellow of the Association of Chartered Certified Accountants in the United Kingdom (FCCA); the Institute of Chartered Accountants in Nigeria (FCA); and the Institute of Chartered Accountants in Sierra Leone (FCA).

His responsibilities as a Senior Partner of PKF, The Gambia include but are not limited to; engagement partner for all the clients in the firm’s portfolio and in charge of overall

administration and management and also liaising with PKF in West Africa and PKF International.

He is currently serving as a Member of the Governing Board for PKF Africa. Donald Charles Kaye is a successful motivator who brings a good attitude to every meeting and he also has excellent communication skills.

He has a varied experience with audit, accounting, taxation and consultancy in banking and financial services (micro-credit), Insurance, air carriage, shipping, hospitality, oil and gas, service delivery etc. In the area of funded projects and programmes he has extensive experience in health, humanitarian relief, education, rural development and agricultural sectors, and other social projects.

He has an excellent command of the English language for accurate presentation of ideas in written and oral format as well as to comprehend the ideas of others. He is a qualified leader who is uncompromising when necessary and compassionate when required, and has the ability to get along with all types of people in a variety of situations.

He has a strong knowledge of administration and management as well as human resources, including strategic planning, leadership techniques, personnel recruitment,

compensation and benefits policies.

He is married with two children.


SAMUEL AMANKWAH

Director

Mr. Samuel Amankwah is an experienced Financial Executive with a pleasant personality that is accredited with unique abilities to resolutely manage and execute projects pertinent to financial solutions and innovative business ideas. His extensive skill-set strongly correlates with an expertise in problem solving, identifying operational inefficiencies, and organisational skills. He values hard work and is diligent and result driven with an appreciation for team and team orientation.

He became a member of the Association of Chartered Certified Accountants (ACCA), UK in 1999 and also obtained a MSc. in Accounting and Finance in 1999 at the De-Montfort University, UK. In addition to his educational qualifications, he attended several Professional Development Training in areas such as Corporate Governance and Capacity Training and Strategy, Risk and Reputation.

Samuel Amankwah served in various capacities at GCB Bank Limited, Ghana between 2000 and 2020 ranging from Consultant (Operations) in which his duties and responsibilities included advising and updating the Board on the strategic workflow of the Bank, assisting the Managing Director primarily on the division of labor throughout the organizational structure, providing advice on improving upon established Bank’s Standards and Procedures.

Deputy Managing Director (Operations) in which he assisted the Managing Director on regular delegated management issues, formulate and recommend strategies to enhance policies and procedures pertaining to operations to ensure effective service delivery and attainment of business goals. He was also the Chief Internal Auditor, General Manager, Treasury Division, and Deputy Head, Accounts Division respectively at GCB Bank Limited, Ghana.

He worked as an Accountant at Adomako Basoah & Co. UK, Production Accounts Manager at Guinness Ghana Limited, and Auditor at UAC Group Limited.

Samuel Amankwah served on various Board of Directors namely; GCB Securities Limited, Vivo Ghana Limited, and National Insurance Commission, Acherensua Secondary School as Chairman of the Board, and at GCB Bank Limited as an Executive Director.