Inauguration of the CIMA Headquarters by Mr. Emmanuel Issoze Ngondet, Prime Minister of the Gabonese Republic

The Prime Minister, Mr. Emmanuel ISSOZE NGONDET chaired this Monday, August 7, 2017 in downtown, Avenue De Kerelle and on behalf of the Head of State, the inauguration ceremony of the Headquarters of the Secretariat General of the Interafrican Conference of Markets Insurance (CIMA).

A building located in the heart of the city and built on a plot with a total area of 2,482 square meters. It is bounded on the north by the Institute of Economy and Finance and on the east by the Stock Exchange of Central African Securities (BVMAC).

Started on August 1, 2014, the construction of this building was completed in March 2017. This merry architectural “meets international standards” according to the client. It is 31 meters high and has a basement of 900 square meters reserved for parking and archives of the CIMA. The services of the General Secretariat occupy the 5th, 6th and 7th floors. Each floor houses fifteen offices, three toilet blocks and three technical rooms.

Note that the project was financed by the Council of Insurance Ministers (CMA), from a private loan contracted from insurance and reinsurance companies established in the 14 member states of CIMA.

The estimated cost of building the CIMA Headquarters is six billion five hundred million CFA francs.

The Prime Minister, speaking at the end of the tour of the premises, welcomed the opening of the headquarters, pleasant, functional and encourages the Secretary General of CIMA to “invest more in the promotion missions and activities of the organization”.

For Emmanuel ISSOZE NGONDET, the leaders of the Interafrican Conference on Insurance Markets must “do their utmost to make this tool useful for CIMA and all users. This confirms with the strength of the insurance market”.

The Head of Government also reaffirmed “the pride of Gabon”, to have taken part in this great and noble company, born in 1978 with the former international conference of the insurance controls during the transfer of its Headquarters from Paris to Libreville and concluded with the signing of the Headquarters Agreement on September 07, 2007, replacing the initialed one 39 years ago.

Recall for all intents and purposes that the CIMA was born on July 10, 1992 in Yaounde. The following countries are members of the organization : Benin, Burkina Faso, Cameroon, Central African Republic, Comoros, Congo, Côte d’Ivoire, Gabon, Equatorial Guinea, Mali, Niger, Senegal, Chad and Togo.

Its aim is to : strengthen cooperation in the field of insurance; facilitate the conditions for the development and consolidation of insurance companies and increase the retention of insurance premiums; promote local investment in technical and mathematical reserves generated by insurance and reinsurance operators.

However, weaknesses remain in the insurance penetration rate in Africa. Only 1% across the continent. The Secretary General of CIMA also noted that : “It is an important challenge,” the development of inclusive insurance. Because, the “total confidence of users in insurance is not fully acquired”.

It is therefore imperative to “work in the interests of the insured” to ensure prosperity.