New CIMA SG takes office in January

The new Secretary General of the Inter-African Conference on Insurance Markets (CIMA), Cameroonian Issofa Nchare, will take office in January 2016 in Libreville, Gabon.

He is to replace his compatriot Jean-Claude Ngbwa whose mandate has ended.

The information made public by the Cameroonian government also stated that Cameroon assumed the rotating presidency of the council of ministers of member countries of the CIMA for next year.

Mr. Issofa Nchare arrives as the head of the insurance sector regulatory body in Central and West Africa at a time where many insurance companies are under fire for various infringements of the rules of governance.

His mission is to improve the image of this institution, some decisions including those withdrawing licenses to insurance companies that have been some challenges.

Elected as the General Secretariat of the CIMA by the Council of Ministers of the regional organization that met on October 1, 2015, in Paris, Issofa Nchare assumed the functions of Director of Insurance at the Cameroon Ministry of Finance.

The ministers in charge of the insurance sector gave their approval to the shares of the CIMA program under the 2016 budget year which was stopped at FCFA 2,854,010,558.