The company, which was studying the financial viability of the plans, looked to open general insurance businesses in the West African countries, Managing Director Doris Awo Nkani said by phone today. The units would have offered motor, accident, marine, aviation and fire insurance among other products, she said.
“Because of the Ebola situation, the board this year decided to put the plans on hold,” Nkani said. “I don’t think the plans will be revived anytime soon.”
Sierra Leone and Liberia join neighboring Guinea as the countries hardest hit by the Ebola outbreak in West Africa. About 5,000 people have died since December in the region, curbing economic growth. SIC’s shares fell 2.4 percent to 40 pesewas in Accra today, paring the 2014 advance to 2.6 percent.
Topics Carriers
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