Actuarial, Finance, Risk and Insurance Congress 2
June 8th-13th, 2025

About AFRIC
AFRIC has been designed to be a premier non-profit making Actuarial Science academic conference that will be rotationally hosted across Africa, bringing together academics and practitioners with research interests across all specialty areas of actuarial science, risk management, and financial system regulation. AFRIC aims to enhance the research culture within Africa's actuarial community. Hence, key topical areas including climate extremes, longevity risk, pensions, and insurance regulations, among others, form part of the AFRIC agenda. AFRIC will bring talent to a talented audience with massive potential of impacting their respective countries and societies. AFRIC is partnering with various universities across Africa and around the globe, actuarial societies, insurance regulators, and financial institutions. Pre-conference workshops will be run at each AFRIC gathering to provide hands-on skills for tackling critical challenges in today’s world. For AFRIC 2, the pre-conference workshop will cover aspects of Artificial Intelligence, Climate Change and GIS with stylised focus on Africa and will be run by renowned practitioners and academics who are subject matter experts for each theme.
AFRIC 2 will be hosted in Masai Mara National Reserve in Kenya at Muthu Keekorok Lodge from the 8th - 13th of June 2025. The Lodge is located right inside the national park.
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- Stochastic models in life and non-life insurance
- Pensions, financial system and insurance regulation
- Application of data analytics and machine learning to actuarial science
- Artificial Intelligence in actuarial applications
- Peer to peer insurance arrangement
- Mortality modelling
- Financial mathematics
- Financial Institution and insurance risk management
- Health economics and insurance
- Longevity risk and retirement planning
- Optimal control
- Reinsurance
- Asset-liability management
- Climate extreme
- Application of actuarial techniques in banking
Plenary Speakers

Professor Hansjörg Albrecher
Hansjörg Albrecher is Professor of Actuarial Science at the Faculty of Business and Economics, University of Lausanne and a Faculty Member of the Swiss Finance Institute. After studying in Graz, Limerick and Baltimore, he held faculty and visiting positions in Graz, Leuven, Aarhus and the Radon Institute of the Austrian Academy of Sciences in Linz before moving to Lausanne in 2009, and guest professorships at various institutions since then, including the University of Hong Kong and ETH Zurich. He has published extensively in the field of insurance modelling and finance, and has been serving on the editorial board of numerous journals, including Insurance: Mathematics and Economics (Editor 2010-2017) and the European Actuarial Journal (Editor-in-Chief since 2019).

Professor Andrew Cairns
Andrew Cairns is Professor of Actuarial Mathematics at Heriot-Watt University, Edinburgh and at the Maxwell Institute for Mathematical Sciences.
He is well known both in the UK and internationally for his research in financial risk management for pension plans and life insurers. In recent years, his research has focused on the modelling of longevity risk: how this can be modelled, measured and priced, and how it can be transferred to the financial markets. Amongst his work in this field, he has developed a number of new and innovative stochastic mortality models, most notably the CBD family. He has also worked extensively on inequalities in all-cause and cause of death mortality, and the evolving impact of Covid-19 on current and future mortality.
His research has received several international prizes including the Halmstad Prize in 2008, the Society of Actuaries Annual Prize in 2009 and the Robert I. Mehr Award in 2016.
Much of his research is focused on delivering rigorous solutions to problems of practical importance. This has resulted in three highly-rated impact case studies for the UK's Research Excellence Framework (REF) and the award of the Edinburgh Mathematical Society's inaugural Impact Prize in 2022.
He is an active member of the UK and international actuarial profession: he qualified as a Fellow of the Faculty of Actuaries in 1993; he has held senior editorial roles at ASTIN Bulletin - The Journal of the International Actuarial Association (1997 to 2017) and Insurance: Mathematics and Economics (since 2023); and in 2005 he was elected as a corresponding member of the Swiss Association of Actuaries. From 2016-2020 he was Director of the Actuarial Research Centre of the Institute and Faculty of Actuaries.
In 2016 he was elected as a Fellow of the Royal Society of Edinburgh, Scotland's national academy of science and letters.

Professor Gordon Phillips
Gordon Phillips is the Laurence F. Whittemore Professor of Business Administration and a professor of finance at the Tuck School of Business. He is also a research associate at the National Bureau of Economic Research (NBER) and a visiting research professor at Tsinghua University in Beijing. He previously taught at the University of Southern California and the University of Maryland. He has been a visiting professor at Harvard Business School (HBS), Duke University, HEC Paris, Insead, MIT, and Southern Mediterranean University. He received his MA and Ph.D. from Harvard University and his undergraduate degree from Northwestern University.
His areas of research include computational linguistics, AI and finance, household finance, corporate finance and how financial decisions impact firms' strategic decisions, and contracting in financial markets. Recent research published in the Journal of Political Economy, the Journal of Finance and the Review of Financial Studies has been on applying computational linguistics to firm financial statements to analyze merger synergies, dividends and product market competition. Research published in the Journal of Finance has been on real and financial booms and busts and mergers and acquisitions and how firms organize across multiple markets. His work in corporate finance includes studies of private equity issuance, capital structure, Chapter 11 bankruptcy, how leverage buyouts and other forms of high debt influence a firms' and rivals' investment decisions. He recently presented the keynote address to the Financial Management Association and also a keynote address on PIPEs (private investment in public equity) to an audience of executives and finance professionals. He has served as an associate editor at The Review of Financial Studies and The Journal of Corporate Finance.

Group CEO Adelaide Odhiambo
Adelaide Odhiambo brings in 19+ years in Insurance having worked for some of the top global Insurance companies which include AIG as Head of Partnerships for Asia Pacific mandated with 10 markets, Jubilee Insurance as Group supervisor customer services group responsible for the setup of a hub and spoke model supporting Kenya, Uganda, Tanzania, Burundi and Mauritius, APA as Group Head of product development supporting Kenya, Uganda and Tanzania businesses. An Actuary by training, she has dedicated her career to the growth of insurance products with a keen focus on the low-income segment. Adelaide was listed in Forbes Africa Top 20 Women making an impact in Africa in 2019.
Program Overview and Abstracts
- Sunday, 08 June
- Monday, 09 June
- Tuesday, 10 June
- Wednesday, 11 June
- Thursday, 12 June
- Friday, 13 June
Time | Session Details |
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13:00 - 17:00 |
Registration |
18:00 - late | Welcome Reception Bush Dinner |
Time | Session Details |
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08:30 - 08:45 |
Official Opening & Welcome Remarks & Housekeeping Maasai Welcome |
08:45 - 09:10 |
Plenary Session Guest of Honour Address: UNSW and cohosts Chair: Patrick Weke |
09:10 - 10:30 |
Plenary Session: Hansjorg Albrecher Chair: Mukami Njeru |
10:30 - 11:00 |
Coffee Break |
11:00 - 12:00 |
Round Table Discussion on Artificial Intelligence and Climate Extremes Chair: Evie Calcutt |
12:00 - 13:00 |
Artificial Intelligence, Climate Change and Geographical Information Systems Workshop Facilitators: Microsoft Chair: Samuel Chege Maina |
13:00 - 14:00 |
Lunch |
14:00 - 16:30 |
Artificial Intelligence, Climate Change and Geographical Information Systems Workshop Facilitators: Microsoft |
16:30 - 19:00 | Afternoon Tea + Networking |
19:00 - 22:00 | Dinner |
Time | Session Details |
---|---|
08:30 - 09:50 |
Parallel Sessions for Contributed Talks |
10:00 - 10:40 |
Plenary Session : Andrew Cairns Chair: Bernard Wong |
10:40 - 11:00 |
Coffee Break |
11:00 - 12:00 |
Parallel Sessions for Contributed Talks |
12:05 - 13:00 |
Panel/ Roundtable Discussion |
13:00 - 14:00 |
Lunch |
14:00 - 15:20 |
Parallel Sessions for Contributed Talks |
15:20 - late | Afternoon Tea + Networking |
19:00 - 22:00 | Dinner |
Time | Session Details |
---|---|
11:00 - 11:40 |
Plenary Session: Gordon Phillips Chair: Elvira Sojili |
11:40 - 12:00 |
Coffee Break |
12:00 - 13:00 |
Parallel Sessions for Contributed Talks |
13:00 - 14:00 |
Lunch |
14:00 - 15:00 |
Panel Discusssion: Africa's Access to global financial markets Chair: Jerry Parwada |
15:00 - 16:20 |
Parallel Sessions for Contributed Talks |
16:20 - 16:30 |
Afternoon Tea |
16:30 - 17:50 | Parallel Sessions for Contributed Talks |
19:00 - 22:00 | Gala Dinner |
Time | Session Details |
---|---|
08:30 - 10:30 |
Decentralized Insurance and Risk Sharing Workshop |
10:30 - 11:00 |
Coffee Break |
11:00 - 13:00 |
Decentralized Insurance and Risk Sharing Workshop |
13:00 - 14:00 |
Lunch |
14:00 - 17:00 |
Village Tour/ Conference excursion |
19:00 - 22:00 | Dinner |
Time | Session Details |
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08:30 - 09:10 |
Plenary Session: Adelaide Adhiambo Chair: Diana Skrzydlo |
09:20 - 10:30 |
Parallel Sessions for Contributed Talks |
10:30 - 11:00 |
Coffee Break |
11:00 - 12:50 |
Teaching session |
12:50 - 13:00 |
Conference Closing and vote of thanks and reflection + next AFRIC |
13:00 - 14:00 |
Lunch |
Conference registration
Conference delegates are invited to register through the conference registration page.
Abstract submission portal
We are proud to announce AFRIC 2 which will be co-hosted with a number of institutions across East Africa which include The Actuarial Academy of East Africa, Jomo Kenyatta University of Agriculture And Technology, The Actuarial Society of Kenya (TASK) and the University of Nairobi. We invite all academics, practitioners, and students to submit an abstract for this fairytale event. Abstract submissions are welcome from all core areas of actuarial science, finance, risk management and emerging areas including artificial intelligence. Submission deadline for abstracts is Friday, the 17th of January 2025 at 23:59hrs (AEST). Abstracts can be submitted through the link below:
Participants are highly recommended to RSVP accommodation way in advance as there are limited places at Muthu Keekorok Lodge. Abstract acceptance will be communicated by the 20th of January 2025 to allow sufficient time for visa application depending on one’s nationality.
If you have any questions, feel free to get in touch with Jonathan on j.ziveyi@unsw.edu.au
Committee/ Speakers
- Scientific committee
- Organising committee
- Jennifer Alonso-Garcia – Universite Libre de Bruxelles, Belgium
- Pierre Devolder – UCLouvain, Belgium
- Elvira Sojli – UNSW Sydney, Australia
- Andrei Badescu – University of Toronto, Canada
- Ka Chun Cheung – The University of Hong Kong
- Jan Dhaene – KU Leuven, Belgium
- Munir Haibu – University of Copenhagen, Denmark
- Wing Wah Tham – UNSW Sydney Australia
- Hamza Hanbali – University of Melbourne, Australia
- Katja Hanewald – UNSW Sydney, Australia
- Eric Cheung – UNSW Sydney, Australia
- David Landriault – University of Waterloo, Canada
- Stephane Loisel – National Conservatory of Arts and Crafts (CNAM), France
- Anne MacKay – Universite de Sherbrooke, Canada
- Sure Mataramvura – University of Cape Town, South Africa
- Xavier Milhaud – Aix-Marseille University, France
- Gift Muchatibaya – University of Zimbabwe, Zimbabwe
- Annamaria Olivieri – University of Parma, Italy
- Jerry Parwada – UNSW Sydney, Australia
- Colin Ramsay – University of Nebraska-Lincoln, United States of America
- Ronald Richman – Old Mutual, South Africa
- Kristina Sendova – Western University, Canada
- Yang Shen – UNSW Sydney, Australia
- Michael Sherris – UNSW Sydney, Australia
- Julien Trufin – Universite Libre de Bruxelles, Belgium
- Andres Villegas – UNSW Sydney, Australia
- Bernard Wong – UNSW Sydney, Australia
- Mengyi Xu – Purdue University, United States of America
- Jonathan Ziveyi – UNSW Sydney, Australia
- Yi Lu – Simon Fraser University, Canada
Chair:
- Jonathan Ziveyi (Co-Chair) – UNSW Sydney, Australia
- Mukami Njeru (Co-Chair, Industry Engagement) – PwC Nigeria
- Patrick Weke (Co-Chair, local) – University of Nairobi, Kenya
- John Njiru (Co-Chair, local) – Actuarial Academy of East Africa
Members:
- Elvira Sojli – UNSW Sydney, Australia
- Andrei Badescu – University of Toronto, Canada
- Wing Wah Tham – UNSW Sydney, Australia
- Jennifer Alonso-Garcia – Universite Libre de Bruxelles, Belgium
- Jan Dhaene – KU Leuven, Belgium
- Carolyn Njenga – Australian Reinsurance Pool Corporation
- Munir Haibu – University of Copenhagen, Denmark
- Hamza Hanbali – University of Melbourne, Australia
- Salvatory Kessy – IAG, Australia
- Sure Mataramvura – University of Cape Town, South Africa
- Lynette Nyaradzai Tasaranarwo – National Social Security Authority, Zimbabwe
- Michelle Vhudzijena – UNSW Sydney, Australia
- Chessman Wekwete – Hanover Re, Sydney Australia
- Andres Villegas – UNSW Sydney, Australia
- Simba Takawira – Nedbank, South Africa
- Jerry Parwada – UNSW Sydney, Australia
- Blessing Mudavanhu – Dura Capital
Venue
The organisers have negotiated a special all-inclusive room rate for conference participants of US$152 per night (bed, breakfast, lunch and dinner) with Muthu Keekorok Lodge for the duration of the conference. Any accompanying person per room will be charged US$50 per day. Reservations are limited and you are encouraged to RSVP early by emailing Ms Flora Nyapinda on: sm3@africamuthuhotelsmgm.com or by calling/WhatsApp +254 722 959658
As the lodge is located inside the National Reserve, there are access fees payable to the local Narok County which depend on individuals’ residence status as follows:
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- From January 1st to June 30th, the entry fee is USD 100 per adult per day.
- From July 1st onwards, the fee increases to USD 200 per adult per day.
- Children aged 9 to 17 years pay USD 50 per day during the entire year, while children up to 8 years old enjoy free entry1.
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- Adults: Ksh. 1,000
- Children: Ksh. 200
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- Adults: Ksh. 1,200
- Children: Ksh. 300
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- Vehicles with 5 seats or less: Ksh. 400
- Vehicles with 6 to 12 seats: Ksh. 1,000
- Vehicles with 13 to 24 seats: Ksh. 3,000.
The Park Entry fees can be made in US dollars or Kenyan shillings at the entry gates, except for the Mara Triangle - Mara Conservancy area, where only cashless payment (Visa/Mastercard or Mpesa Mobile Money) is accepted. Residents of Kenya should carry identification and proof of residence to avail of the cheaper resident rates.
Travel requirements
Travelling to Kenya
All travellers to Kenya who are not citizens of East African Partner States will need an Electronic Travel Authorisation (eTA) to enter Kenya and this can be applied electronically through the official site.
Note that the processing time varies from 3 – 7 business days and here are some of the mandatory requirements for all foreign travellers:
- Valid passport for at least six (6) months after your planned date of arrival into Kenya, with at least one blank page
- Selfie or passport-type photo
- Contact information, email address and phone number
- Details of your arrival and departure itinerary
- Accommodation booking confirmation(s)
Transfers between Nairobi and the conference venue
For transfers between Nairobi and the conference venue (and game drives within Maasai Mara for the entire duration), we have made special arrangements with Nyagaya Safaris who will provide 7-seater Safari Land Cruisers for US$280 per vehicle per day (approximately US$40 per day per individual). The way we have negotiated is that each group of up to seven individuals will be assigned a vehicle for their entire stay in Maasai Mara so that it will as well be handy for game drives and village tour visits. The price includes
i) return Nairobi transfers from Muthu Keekorok Lodge,
ii) Maasai Mara National Reserve Game drives,
iii) service of a professional driver/guide, iii) vehicle park entry fees, and
iv) drivers allowance.
Nyagaya Safaris can as well provide airport transfers for those who wish to spend some time in Nairobi before going to the park. Reservations for transfers can be made directly by emailing Ms. Lynee Nyagaya on nyagayasafaris2@gmail.com and cc Ms Pauline Nyagaya on nyagaya.pauline@yahoo.com They are also reachable by calling/ WhatsApp +2547 11 861368. Note that Lynee has promised exceptional service to any groups with additional needs, and you can customize your travel by selecting who to travel with etc. Once you have finalised your itinerary to Nairobi, please get in touch with Nyagaya Safaris for that they can coordinate and make necessary arrangements for your transfers.