CIMA: Issofa Nchare commissioned as Secretary General

Director of Insurance at MINFI, Issofa Nchare, has been appointed as the new Secretary General (SG) of the Inter-African Conference on Insurance Markets (CIMA).

He takes over from compatriot, Jean-Claude Ngbwa and will take office in January 2016.

This revealed in an official statement by the Minister of Finance, Alamine Ousmane Mey.

He met with the board of Ministers in charge of the insurance sector of the member states of the Inter-African Conference of Insurance Markets (CIMA), on October 1, 2015, in Paris. The meeting was preceeded with the appointment of Issofa Nchare as SG of CIMA.

The Alamine Ousmane Mey communiqué indicated that the Council of Ministers took note of the end of the Burkina Faso term as chair of the board. This feature is now provided for a period of one year as Minister of Finance of the Republic of Cameroon.

And ensure that "This is another eloquent illustration of credit and influence enjoyed by Cameroon in international forums and a concrete translation of the effectiveness of the diplomacy of presence and action advocated by the Head of state, His Excellency Paul Biya."

That said, Issofa Nchare is the new insurance sector policeman in Central Africa and the West. There is no doubt of the fact that the States of the subregion have a strong presence in the CIMA, both in number and performance.

The West African country aligns eight of the 14 that includes CIMA, and saves more insurance companies which operate in a more dynamic environment than Central Africa.

The new SG will take office in January 2016 in Gabon, the headquarters of CIM. This institution is responsible for establishing and ensuring compliance with prudential standards and rules to ensure that the promises made by the insurance companies will be required in a stable financial environment, efficient and competitive.

During the Council of the ministers in charge of the insurance sector on October 1, they gave their approval to the shares of the CIMA program for the year 2016, whose budget was declared as FCFA 2 854 010 558.