(Business in Cameroon) - Cameroonian Issofa Ncharé is the new Secretary General of the inter-African Conference of Insurance Markets (CIMA in French), regulator of the insurance industry in Central and West Africa, Financial Afrik announces. The same source revealed that this appointment was approved on 1 October 2015, by the respective ministries of Finance of the Member States of CIMA, on the occasion of the Franc zone meeting held in Bercy, France.
Issofa Ncharé replaces his compatriot Jean Claude Ngbwa (picture) who completed his term. Over the next five years, the former head of the insurance department of the Ministry of Finance will work towards regulating the insurance sector in all 14 Member States of CIMA (Benin, Burkina Faso, Cameroon, Congo, Côte d’Ivoire, Gabon, Guinea Bissau, Equatorial Guinea, Mali, Niger, Central African Republic, Senegal, Chad, and Togo).
According to our sources, the fact that a Cameroonian replaced another at this important position is a diplomatic victory, not only for Cameroon but also for the entire Central African Community; considering how West Africa highly covets the position. Indeed, in addition to counting 8 out of the 14 countries which make up the CIMA (with Côte d’Ivoire leading the insurance markets), West Africa has more insurance companies that thrive in a more dynamic environment than that of the Central African region.
Two deputy Secretary-Generals will be supporting insurance specialist Issofa Ncharé during his service namely, Burkinabe Boubacar Sanagaré with his renewed 5-years term and Nigerien Mamadou Malam.
Brice R. Mbodiam