Hill Station, Freetown, Tuesday 31 March 2026 – His Excellency, President Dr. Julius Maada Bio has officially commissioned the headquarters of the West African Insurance Companies Association Reinsurance Corporation (WAICA Re) PLC, reaffirming government’s commitment to providing a stable legal and regulatory environment for investment.
Delivering his keynote address, President Bio described the occasion as a significant milestone for Sierra Leone, WAICA Re, and the broader West African financial sector. He noted that the commissioning fulfills a longstanding commitment stemming from the 2011 agreement that established WAICA Re in the country and paved the way for the construction of its permanent headquarters.
The President emphasized that the Headquarters Agreement outlines the government’s responsibility to ensure an enabling environment for the corporation’s operations, reaffirming Sierra Leone’s commitment to honoring its obligations. He assured continued support for financial sector development, regulatory stability, and the protection of institutional rights, stressing that the country remains open to credible, long-term investment.
“Sierra Leone is open for credible investment and honors its agreements; we welcome institutions that contribute to regional cooperation and economic resilience.” The President said.
Group Managing Director and CEO, Abiola E. Ekundayo, expressed appreciation to the government and people of Sierra Leone for their sustained support since 2011. He noted that the new headquarters symbolizes the institution’s growth and long-term commitment to Africa, highlighting WAICA Re’s expanding footprint across the continent and beyond.
Also speaking, Group Chairman of WAICA, Kofi Duffuor commended the Government of Sierra Leone, Parliament, and citizens for hosting the institution. He praised President Bio’s leadership and commitment to upholding agreements, describing it as a demonstration of confidence in building strong, enduring regional institutions.
The commissioning marks a key step in strengthening Sierra Leone’s position as a hub for regional financial services and advancing economic cooperation across West Africa.
