The Evolving Role of Actuaries in Africa

This joint session by the Nigerian Actuarial Society (NAS), the Actuarial Society of Kenya (TASK), and the Actuarial Society of Ghana (ASG) will explore actuarial practice across the three countries with highlights on the following topics:

• How actuaries can influence policy and regulation
• Expanding beyond traditional actuarial fields (banking, healthcare, climate finance)
• Addressing the actuarial skills gap in Africa

A Nigerian PerspectiveAcross Africa, the actuarial profession is undergoing a period of transformation—marked by expanded frontiers, increased relevance in public policy, and a growing need for local capacity. In Nigeria, the largest economy on the continent, the profession stands at a critical juncture. The evolving socio-economic landscape, combined with regulatory reforms and emerging risks, has created a unique opportunity for actuaries to redefine their role—not just as technicians but as strategic partners in national development.This session explores how actuaries in Nigeria are influencing policy and regulation, expanding into non-traditional fields, and addressing the deep-rooted skills gap that continues to constrain the profession. It also highlights the efforts of the Nigerian Actuarial Society (NAS) in positioning the profession for greater relevance within the African context. A Kenyan PerspectiveThe actuarial profession in Kenya is undergoing a significant transformation, marked by a growing presence in public policy, regulatory engagements, and emerging sectors such as climate risk and climate finance. Actuaries are leading efforts by working directly with regulatory bodies, such as the Insurance Regulatory Authority to support innovation in microinsurance and the development of inclusive insurance solutions.To address the actuarial skills gap, structured apprenticeship programs, academic curriculum enhancements, and promotion of international certification pathways are underway. These developments reflect efforts to strengthen the profession’s capacity to influence national development and manage complex risks in an evolving socio-economic landscape.A Ghanaian PerspectiveAs Africa’s economies evolve, so too must the actuarial profession. This presentation explores how actuaries in Ghana — and across the continent — can redefine their role to meet the continent’s emerging needs in policy, finance, and capacity development.