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Preparing for emerging risks in Africa: skills, capacity & the future of insurance

As risk complexity accelerates across Africa, the insurance industry faces a growing skills gap. Insights from the Mukfin Roundtable highlight the urgent need for practical training, multidisciplinary capability and continuous learning to ensure the sector can respond effectively to emerging risks.
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Published on
April 24, 2026

The African insurance industry is no longer operating in familiar territory.

At the latest Mukfin Roundtable, industry leaders from across the region gathered to unpack how the sector is responding to a rapidly evolving risk landscape, and whether it has the skills to keep pace.

The discussion brought together Simba Mukonzo (Mukfin), Opelo Lefhoko (Mayfair Botswana), Muzi Shongwe (Ezulwini Re), Webster Twaambo (Finsbury Re Zimbabwe), and Kopano Radebe (IISA). Together, they explored a central theme: as risk becomes more complex, the industry’s ability to respond will increasingly depend on the depth and quality of its talent.

A risk environment in flux - Opening the discussion, Simba Mukonzo framed the challenge clearly. The industry has moved beyond a period where risks were relatively stable and predictable. Today, risks vary significantly across markets, shift in severity and frequency, and are becoming more complex by the day.  

Cyber threats, climate-related losses, and the rapid introduction of artificial intelligence into business operations are not just adding new layers of exposure, they are fundamentally changing how insurers think about liability, underwriting, and business continuity.

This is not simply an evolution of risk. It is a transformation.

And it is placing unprecedented pressure on the skills base of the industry.

The growing gap between knowledge and application - A key theme that emerged early in the discussion was the disconnect between what professionals know and what they are able to do.

Webster Twaambo reflected on the importance of academic qualifications in building foundational knowledge and credibility. At the same time, he emphasised that formal education alone cannot keep pace with the speed of change in the market. Practical, industry-specific training is essential to bridge that gap.

Simba Mukonzo reinforced this point by highlighting the role of academic learning in building capacity, particularly the ability to think critically and absorb new information. But he was equally clear that this must be complemented by practical training that translates theory into real-world application.

The conclusion was not that one is more important than the other, but that the two must work together. Without that balance, capability remains incomplete.

Why training is falling short - Despite significant investment in training across the industry, there was a shared sense that outcomes are not always matching expectations.

Kopano Radebe pointed to a lack of structure as a core issue. Training often takes place in isolated pockets, without a clear link to career progression or organisational needs. As a result, development efforts can become fragmented, with limited impact on performance.

Simba Mukonzo added another critical layer to this challenge: relevance. Training that does not address real needs or reflect the realities of the workplace risks becoming a wasted exercise. When individuals attend programmes that do not resonate with their roles, engagement drops, and the value of the investment is lost.  

What is required is a far more deliberate approach, starting with understanding where gaps exist and ensuring that development interventions are aligned accordingly.

The future of insurance in Africa will be shaped not only by how well we understand risk, but by how effectively we develop the people managing it.

COVER

Making learning meaningful - The discussion repeatedly returned to the importance of practical, relevant learning.

Professionals are no longer looking for theoretical refreshers. They want to engage with real scenarios, test their thinking, and develop the ability to navigate complex situations. This is where practical training, delivered by experienced practitioners, becomes particularly powerful.

Simba Mukonzo highlighted the importance of designing learning experiences that simulate real-world challenges and help individuals work through actual problems they face in their roles. This shift from passive learning to active engagement is critical in building meaningful capability.

At the same time, there was recognition that training must also consider where individuals are in their careers. A junior professional and a future leader require very different development journeys, and treating them the same risks diluting the effectiveness of both.

The role of the individual - While organisations carry significant responsibility for skills development, the panel was clear that individuals also play a crucial role.

Muzi Shongwe noted that motivation is often linked to visibility. When professionals can see how learning connects to their career progression, they are more likely to invest time and effort into developing themselves.

Simba Mukonzo took this further, emphasising the importance of personal accountability. Strong academic foundations, continuous learning, and a willingness to engage with development opportunities all contribute to an individual’s ability to grow.

There was also a broader call for professionals to recognise the value of giving back, to apply what they have learned in ways that strengthen their organisations and, by extension, the industry as a whole.

Beyond technical expertise - As the discussion evolved, it became clear that technical skills alone are no longer sufficient.

Opelo Lefhoko highlighted the growing need for multidisciplinary capability. Today’s insurance professionals must navigate not only risk, but also data, technology, regulatory change, and shifting client expectations.

Equally important are the so-called soft skills, communication, adaptability, and critical thinking, which enable professionals to operate effectively in increasingly complex environments. These are no longer optional attributes; they are essential capabilities.

The challenge of building expertise - A further concern raised during the roundtable was the limited pool of experienced trainers and subject matter experts.

Simba Mukonzo acknowledged the difficulty of securing time from highly skilled professionals to deliver training, given the demands on their roles. At the same time, Kopano Radebe pointed to a broader industry challenge: an ageing workforce and the risk of losing critical knowledge if it is not actively transferred.

This creates a dual challenge, not only developing new talent, but also ensuring that existing expertise is captured and shared.

A shift in mindset - What ultimately emerged from the Mukfin Roundtable is the need for a shift in how the industry approaches skills development.

Training can no longer be treated as a routine or compliance-driven activity. It must be seen as a strategic priority, directly linked to the industry’s ability to respond to change.

This requires greater alignment between organisations, industry bodies, and individuals. It also requires a commitment to continuous learning, not as a once-off intervention, but as an ongoing process.

Looking ahead

The African insurance market continues to present significant opportunity. But realising that opportunity will depend on more than products or pricing.

It will depend on people.

As risks become more complex and interconnected, the ability to interpret, adapt, and respond effectively will define success. And those capabilities are built, deliberately, continuously, and collectively.

The message from the roundtable is clear: The future of insurance in Africa will be shaped not only by how well the industry understands risk, but by how well it develops the people managing it.

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