As the governing council of the West African Insurance Institute, WAII, Banjul in The Gambia searches for new director general/head of mission of the institute owned by the Anglophone countries in the sub-region, OLUGBENGA SALAMI examines achievements of the institute under Prof. Mike Ikupolati and the challenges before his yet-to-be named successor.
The West African Insurance Institute, WAII in Banjul, The Gambia, is an insurance training centre with full diplomatic status, juridical personality and financial authority, which provides professional insurance education and allied courses to the personnel of insurance; financial industries and the public sector.
The institute owned and established by governments of West African Anglophone countries, namely the Republic of Ghana, Liberia, Sierra Leone, The Gambia and the Federal Republic of Nigeria, also supervise examinations as well as offer certificates and diplomas, including various courses leading to professional, vocational qualifications.
WAII which was established on August 2, 1978 has its first headquarters in Monrovia Liberia but due to reasons of war in 1991 it was move to its present location in Banjul, The Gambia. The Institute as at July 2012 has graduated well over 4, 000 middle level Managers in Insurance and graduates of other short term courses, including IFC programmes, Diploma in Law and Marketing and advanced Diploma in Marketing, among others.
Similarly, the institute provides educational academic programmes for staff working in the insurance industry of The Gambia. It has always been success stories since its establishment till date.
However, the recent development in the institute where its last director general/head of mission, Professor Prince Mike Ikupolati was relieved of his appointment following uninvestigated petitions to president of The Gambia, Yahya Jamen by some people who felt intimidated by his rising profile and achievements, is not good for the sub-region. Though Ikupolati has spent 11 years in the saddle, the allegations that led to his exit were not good enough to encourage total commitment and dedication to the service of one’s region and the continent in general.
The director general has no doubt done much not just for the regional training institute, but for West Africa and the African continent as a good ambassador. Expectedly, Ikupolati opened the WAII doors to lead the region in insurance training and development. As the industry looks to build on this success in the years ahead, the former director general has started addressing some key challenges in order to establish a healthy regional insurance market. There is no doubt that competition in some countries is still being suppressed by the dominance of state-owned insurance companies where a significant shortage of candidates with the appropriate skills and exper¬tise is limiting the availability of qualified professionals.
This was not the case in WAII under Ikupolati’s watch as the institute has a number of qualified professionals on board. They include Mr. Kehinde Omotowa, who is the Director of Studies; Mr. Lamin Kaita as the Bursar; Ms. Isatou Sallah as the Administrative Officer; Mr. Kwesi Ofori-Boateng as Faculty/Student Affairs Officer; Mr. Lamin Sanneh as Administrative Assistant; Mr. Abdou Jallow as Protocol Officer, and Mr. Harry Micheal Johnson as Personal Assistant to the Director General, among others.
Investigations revealed that the institute was in the process of recruiting more academic and non-academic staff to fortify the organogram. It was gathered that Ikupolati, a man of considerable intellect, an astute corporate leader with unfailing desire to achieve excellence at all times had been planning to upgrade the institute to a full-fledged university formidable enough to be the citadel of learning in Africa by the year 2015.
This, Ikupolati, an indigene of Iyara in Ijumu local governmrnt area of Kogi State, was doing with the commitment of the governing council and the academic board as well as the determination of the management and all the stakeholders to achieve the purpose and achievement of its laudable dreams.
No doubt, his success at the institute is not achieved by accident, but by dint of hard work, good planning and providence, with a strong reliance on divine direction and support. The 40 years old training institute in the West African sub-region has a long collaboration partnership with the prestigious Chartered Insurance Institute, CII of London and investigation by our correspondent also proved that there had never a time the CII threatened to severe the partnership, especially under the leadership of Ikupolati.
The certificates issued by WAII used and are still well recognized beyond the shores of West Africa and this has continued to improve through the hard work and commitment of the director general.
The institute is internationally recognized all over the world. It is currently a representative or affiliate of the Charted Insurance of London and Nigeria, The CPCU of America, NIA of India, UNISA South Africa, Knowledge University in America and a member of the Association of African Insurance Educators and Trainers with Ikupolati as its current president. The CII London has given 190 units exemption out of the 290 Units required for qualification as an Associate of the Institute. With additional exemptions for a candidate’s basic educational qualifications, our graduates are now required to write only two technical courses to qualify as an associate member (ACII). The Institute is also negotiating similar exemptions from the Chartered Insurance Institute of Nigeria.
Ikupolati, till he left WAII was guided by the philosophies of “equity and fairness, effectiveness, team work, integrity and transparency” in the management of the Institute. The institute which he has helped to transform from a monolithic course–structured institute from 1978 to 2002 to a multi dimensional course–structured institute today with great passion for quality education under conducive learning environment, is now transforming from a Diploma awarding institute to a full-fledged University of Insurance and Financial Services.
The institute under his leadership has also gone into consultancy services for corporate organizations and governments of the member states especially in the areas of social security programmes, pension’s management, insurance underwriting and rating plans and manuals, management, leadership and actuarial services, among others. The governing council has approved the transformation of the institute into a “West African University of Insurance and Financial Services”. In actualization of this dream, the institute has concluded a five years strategic plan undertaken by PUM, a Netherland consultancy organization, with a view to ensuring a step–by–step graduation of the institute to a full functional university by 2015.
Under the dynamic leadership of Ikupolati, the institute has continued to grow from strength to strength especially in the areas of academics and infrastructural development. The institute is currently putting up a multi-million Dalasis building project at its head office at Kololi Street, Banjul, The Gambia, to accommodate the growing academic programmes under the new partnerships with reputable universities both in Africa and United States of America.
According to the director general, the institute has the tremendous backing of the government of the member countries, insurance industries in the member’s states and its Grand Patrons, Prof. Sheikh Alhaji, Dr. Yahya Jammeh, President of The Gambia, Dr. Ernest Bai Koroma, President of Sierra Leone, Dr. Goodluck Ebelle Jonathan, Nigerian President and two of its founding fathers, Prof. Emeritus Joe Irukwu and Chief Sonny Odogwu.
The institute, Ikupolati said has helped in no small measure to impact the lives of many leaders of our nations and captains of our industries. The incumbent President of the Republic of Sierra Leone, Dr Ernest Bai Koroma as one distinguished Alumnus of the Institute. The institute can also boast of many chief executive officers of several insurance institutions in and out of the West African sub-region.
A fellow of many great professional bodies, Ikupolati is a fellow of the Chartered Insurance Institute of London, FCII and Nigeria, FCIIN, a fellow of the Institute of Business Administration of Nigeria and Institute of Management, among others. Academically, he commenced his academic laurels with a First Class degree in Actuarial Science, Masters in Business Administration, Doctorate degree in Philosophy and Religion, before his elevation to the position of a Professor of Insurance and Management. He is a dynamic author and a great paper presenter. He has presented several papers at both local and international fora on diverse subjects ranging from insurance to actuarial science, management, and financial empowerment, micro-finance, business ethics and leadership among others.
Currently, Ikupolati is an internationally acclaimed management consultant working with organisations such as UNDP, World Bank and other international organisations, with passion for mass empowerment of people within the African continent. His is an acclaimed motivational speaker and a philanthropist per excellence. The institute under his leadership has struck an agreement with the University of South Africa to offer various degree courses.
Though Ikupolati’s successor has not been named, the governing council is said to have agreed on a candidate at its last meeting in Accra, Ghana. It might take a long time to get a director general like Ikupolati, a man with an unparallel humility, charismatic and intellectual opulence, who has succeeded in establishing an enduring legacy in the management of the institute.
Nonetheless, to capture the full growth potential of WAII markets, some issues that have to be addressed by any incoming director general would include developing a talent base to provide qualified, skilled, and trained staff on the insurance supply side; improving public awareness about insurance in the region to increase penetration and density, and supporting the establishment of a regional insurance market to boost investor confidence and promote the region as a center for insurance professionalism and excellence.
To achieve these goals, such a person must be an experienced professional who will be ready to work closely with other regulatory authorities in the sub-region to promote transparency, collaboration, and implementation of international standards in the region; and internationally by collaborating with standard-setting bodies to move understanding of regulatory and supervisory matters further.