Overview of the 5th African Actuarial Congress
The 5th African Actuarial Congress, to be held on March 15th and 16th in Morocco, comes after the success of the First International Professional Meeting of Leaders of the Actuarial Profession in French Speaking Africa in April 2003. It is a new opportunity for the Moroccan financial sector to consolidate its position as one of the leading motors of emerging growth in Africa and to showcase the Moroccan win-win partnership model as a co-development solution for many countries in the continent.
The new economic dynamic established by the strategic vision of His Majesty King Mohamed VI was made possible thanks to the large public, semi-public and private Moroccan companies that have exported their know-how in various fields including agriculture, telecommunications, construction and public works, industry, banking and insurance.
Today Morocco is playing its role as a regional hub with investments in air and sea port infrastructure to ensure international connectivity, but also through the structuring and consolidation of the insurance and banking sectors in Africa with the emergence of regional players of size, the subsidiaries of national champions. The creation of a financial center in Casablanca has also been solidified by the establishment of several economic players whose mission is regional outreach.
Recognized at the international level as an essential function in the decision-making process in the insurance, social security, financial services and banking sectors, the actuarial profession is now at the heart of governance with a major role in guaranteeing the financial sustainability and consumer protection of financial institutions. Actuarial skills are also necessary in the new internal supervision positions, including actuarial and risk management posts which were introduced by the ICP7 and ICP8 standards on governance of insurance undertakings (the Insurance Core Principles are established by the International Association of Insurance Supervisors – IAIS).
The profession will certainly see its importance and responsibilities grow in an ever-changing market. As the actuarial profession also serves the public interest, it plays an important role in actively contributing to the development of inclusive finance in Africa and as such, contributing to the achievement of the United Nations’ Millennium Development Goals.
A long-standing profession in some African countries and more recently established in others, actuarial science, drawing from mathematical and statistical techniques, is finding its way in a multi-speed market where requirements and regulations evolve to continually adhere to international standards.
Morocco, which is hosting the 5th African Actuarial Congress, is one of the pioneering African countries in the field. Starting in 1972, a training program was launched at INSEA in Rabat, which has trained state engineers in actuarial science and finance since 1998. Today Moroccan actuaries operate principally in the insurance and social welfare sectors.
In a setting devoted to acknowledging the profession on the market as well as improving practices throughout the sector, the 5th African Actuarial Congress will involve national and international experts as well as industry leaders in order to take stock of the profession’s evolution and explore its future prospects.
If you have any question concerning your registration please feel free to contact us on
If you have any question concerning your venue to Morocco please feel free to contact us on