EIRS Bets on Zambia and Malawi to Close Africa’s Risk Intelligence Gap
EIRS has announced a major expansion of its operations in Zambia and Malawi, signalling a strategic shift from traditional insurance services towards advisory-led risk solutions across Southern Africa.
The firm plans to increase its combined workforce in the two countries by more than 65 per cent within the year, as part of a broader investment drive aimed at strengthening local expertise and deepening client engagement.
The move comes amid rising demand for risk intelligence services across emerging African markets. Despite steady growth, insurance penetration across the continent remains low, averaging between 2.8 and 3.5 per cent of GDP, compared to a global average exceeding 7 per cent. Analysts say this gap reflects not only limited access, but also a shortage of data-driven insights and structured risk management frameworks.
At the same time, the African insurance sector is projected to grow at a compound annual rate of more than 11 per cent over the next decade, driven by urbanisation, infrastructure expansion and increased awareness of risk exposure. This growth is expected to fuel demand for specialised advisory services in key sectors such as mining, agriculture and financial services.
Margaret Banda, Business Head at EIRS Zambia, said the company’s expansion is rooted in the need to provide more practical and forward-looking support to clients.
“Insurance in our markets is no longer just about transferring risk; it is about understanding it, quantifying it and managing it proactively,” she said. “As businesses grow and sectors become more interconnected, the need for structured risk insight becomes critical.”
EIRS noted that the expansion aligns with evolving regulatory frameworks across Southern Africa, where companies are increasingly required to demonstrate stronger risk governance and resilience. Industry observers point to steady premium growth and improving oversight in markets such as Zambia as indicators of a maturing sector.
Chief Executive Officer Abhishek Jain said the firm is positioning itself to respond to increasingly complex risks facing businesses.
“Clients today are dealing with more complex risks such as climate exposure, supply chain disruption and regulatory change,” he said. “They need partners who can go beyond policies and provide insight. Strengthening our teams in Zambia and Malawi allows us to deliver that level of support consistently.”
Founded in 2019, EIRS operates across 11 African markets and maintains strategic hubs in Dubai and London. As a subsidiary of ETG, the company provides data-driven risk advisory and (re-)insurance broking services tailored to emerging markets across Africa and the Middle East.
