As the Ethiopian government opens the country’s financial industry to international competition, concerns are growing over the shortage of skilled professionals in the insurance sector, which could pose significant challenges in the coming years. The financial sector has been closed to foreign players for decades, and with its recent liberalization, local institutions are expected to face intense competition. This is particularly concerning for the insurance industry, where the lack of adequately trained professionals is seen as a major hurdle.
In response to this challenge, Bruh Finance, in collaboration with the Ethiopian Insurers Association, has launched a diploma program through the Chartered Insurance Institute aimed at addressing the skills gap in the sector. This program is designed to provide international-level training to 50 insurance professionals, equipping them with the knowledge and skills necessary to compete in a more demanding market and to adapt to new technologies.
This initiative follows a successful training program conducted by Bruh Finance three months ago, where over 70 insurance workers completed a 12-month certification course through the Chartered Insurance Institute. Building on this success, the new diploma program will further enhance the qualifications of those who have already completed the certificate level.
Getachew Beshawared, CEO of Bruh Finance, emphasized the importance of this initiative for the professional development of Ethiopia’s insurance sector. “This program will play a vital role in enhancing knowledge and raising the standards of the industry,” he said, adding that it marks a significant step forward for the financial industry and will inspire future professionals to excel in the field.
Bruh Finance has extensive experience in the financial sector, working in collaboration with financial institutions from various countries to provide support in banking, insurance, and capital markets. The institution’s efforts are focused on enhancing the capacity of insurers and modernizing Ethiopia’s financial sector to better meet the demands of a competitive global market.
