The Central Bank of Mauritania (BCM) aims to launch a comprehensive reform process for the insurance sector in Mauritania, strengthen its economic and investment role, and develop its legal and institutional framework to enable it to adapt to economic changes and provide more effective protection for policyholders.
The BCM will develop a national roadmap for insurance that addresses current realities and anticipates future challenges, reported the Mauritanian News Agency.
For this purpose, the BCM held a consultative forum on the insurance sector in Mauritania on 8-9 December 2025 in Nouakchott. The forum, chaired by the BCM Deputy Governor, Ms Aminata Kane, was attended by the Prime Minister's Advisor for Economy and Finance, Mr Mohamed Lemine Ould Hamadi, as well as representatives from several government departments, financial institutions, partners, and national and international experts.
This two-day forum included a comprehensive diagnostic of the insurance sector conducted by the Casablanca-based consulting firm FINACTU, as well as a discussion on ways to revive growth in the insurance sector by leveraging the experiences of neighbouring countries.
Reform
Mrs Kane indicated that the reform of the insurance sector has become urgent, driven by changes in the national economy and the expanding range of risks.
She affirmed that "the transfer of the supervisory role of the insurance sector to the Central Bank represents a fundamental transformation that will enable the adoption of modern control mechanisms and innovative approaches to compliance and accountability”.
The Director of Insurance at the BCM, Mr Moustapha Kane, stated that the success of the reform will not be achieved solely through systems and laws, but also through changing practices and the commitment of all parties, considering that building a modern and inclusive insurance sector is an essential condition for the success of the national development strategy for 2030.
In turn, the president of the Mauritanian Professional Association of Insurers, Ms Ezza mint Emmemme, emphasised that “the economic development that Mauritania is experiencing, particularly in the oil and gas, mining, infrastructure, and energy sectors, makes insurance a strategic necessity to protect investments and ensure their sustainability,” affirming that establishing an insurance culture is a collective effort that requires awareness, transparency, respect for the law, and capacity building.
Mauritania’s main economic sectors are agriculture, fisheries, mining and energy. With recent discoveries of offshore gas reserves, Mauritania is just entering gas production. The first gas from the Greater Tortue Ahmeyim project started flowing on 2 January 2025, making Mauritania an emerging gas player.