CIMA-AFD Project

The French Development Agency (AFD) and the Inter-African Conference on Insurance Markets (CIMA) signed a financing agreement (AFD Agreement N ° CZZ219801H) on March 02, 2017.

I – The project’s objectives

The main objective of the CIMA-AFD project is to strengthen the regulation of the insurance markets in the CIMA zone in order to allow healthy development of insurance promoting financial inclusion and economic stability.

The specific objectives are :

  1. i) Consolidation and sanitation of the market by strengthening the supervisory capacities of CIMA and the five National Insurance Departments (DNA) deemed to be priorities (Burkina, Cameroon, Côte d’Ivoire, Gabon and Senegal) and the development of their supervisory practices (from compliance-based supervision to risk-based supervision) ;

  2. ii) Adaptation of the regulatory framework relating to insurance and microinsurance activities ;

  3. iii) Strengthening the governance of CIMA and the DNAs of the five priority countries according to best practices and the international reference framework (IAIS standards: International Association of Insurance Supervisors (Association Internationale des Régulateurs en Assurance)).

II – Project components

The project is subdivided into five (5) components :

  • Component 1: adaptation of the regulations ;

  • Component 2: strengthening of the governance of CIMA and DNA ;

  • Component 3: strengthening of the supervision capacities of CIMA and DNA ;

  • Component 4: capitalization and communication ;

  • Component 5: technical assistance and project management.