IFoA President Visits Zimbabwe
The Insurance and Pensions Commission (IPEC) today had the honour of hosting the President of the Institute and Faculty of Actuaries (IFoA), United Kingdom, Ms Kartina Tahir Thomson, at its Head Office in Harare.
The high-level engagement brought together senior representatives from IPEC, led by Commissioner, Dr Grace Muradzikwa, and the Actuarial Society of Zimbabwe (ASZ) led by its president, Mr Prosper Matiashe.
In her welcoming remarks, Dr Grace Muradzikwa expressed Zimbabwe’s delight at hosting the IFoA President, commending her global leadership and focus on emerging markets.
“Your decision to visit Zimbabwe, following engagements in Kenya and South Africa, speaks volumes about your commitment to understanding the unique challenges and opportunities in Africa,” said Dr Muradzikwa.
Zimbabwe continues to play a significant role in developing actuarial talent on the continent, ranking third after South Africa and Kenya. The Commissioner noted that Zimbabwean actuaries are spread across the globe and actively contribute to the IFoA in various capacities, including as examiners and markers.
At IPEC alone, there are currently 16 actuarial personnel, including one qualified actuary and three nearly qualified professionals.
The Commissioner also highlighted several local actuarial initiatives supported by both local and international professionals, including:
- The development of Zimbabwe-specific Mortality Tables,
- The Farmers’ Basket, a parametric insurance product developed for smallholder farmers to protect against climate-related risks, and
- The development of a local solvency framework, Zimbabwe Integrated Capital and Risk Programme (ZiCARP).
Reflecting on Zimbabwe’s unique historical context, including the 2009 currency reforms, Dr Muradzikwa acknowledged the importance of enhancing actuarial regulation to restore and maintain public trust.
Ms Thomson said IFoA boasts of 35,000 members from 150 countries, adding that she is in Zimbabwe to support the growth of the actuarial profession.
“I am very passionate about the next generation of actuaries, and part of that, is building accessibility to the profession, making sure that we give opportunities to people who might not be able to join the profession because they can’t afford it. So we want to ensure that we take that away and bring in talent into the profession,” Ms Thomson said.
During her visit, Ms Thomson is meeting several other stakeholders, including the Reserve Bank of Zimbabwe, industry executives, and the Zimbabwe Council for Higher Education.
