Ghana Gas faces insurance procurement scrutiny

IMANI Africa, a policy think tank, has flagged issues with the Ghana National Gas Company's insurance arrangements. The group is worried about the way the company changed its insurance provider.

GLICO General Insurance Ltd previously held the contract for Ghana Gas. GLICO said it set up a two-year insurance deal with international companies. This deal included good prices from global markets. However, GLICO's contract ended on December 31, 2025. A new company took over from January 1, 2026.

IMANI sees three main problems. First, they ask if the change followed fair bidding rules. Second, they question if old contracts were ended properly. Third, they wonder if Ghana Gas checked how this would affect its international insurance partners.

IMANI states that once international insurance cover is set, it is hard to change. Moving away from these agreements without proper process could harm Ghana's image in global insurance markets. It could also make future insurance more expensive for key national assets.

The think tank also pointed to a regulatory issue. There are questions about whether other parties, not the main insurer, were involved in insurance talks. If this happened without the official insurer’s permission, it could break Ghana’s Insurance Act (Act 1061).

Ghana Gas is a major national asset. It has complex risks, like gas pipelines and industrial sites. These kinds of risks need careful planning and long-term insurance contracts. IMANI suggests that just changing insurers without full review is risky.