Yaoundé - 25 May 2020 -
Public management

Cameroon : Insurers’ association Asac donates XAF120 mln into the COVID-19 solidarity fund

Cameroon : Insurers’ association Asac donates XAF120 mln into the COVID-19 solidarity fund
  • Comments   -   Monday, 11 May 2020 16:46

(Business in Cameroon) - On May 8, 2020, the Association of Insurance Companies of Cameroon (Asac) handed a check of XAF120 million to the Minister of Public Health, Manaouda Malachie. This check represents the local insurers’ contribution to the solidary fund set up by the country to fight the Coronavirus.  

The insurers thus join the rank of other companies that have already responded to the call for solidarity against Covid-19, issued by the Cameroonian Head of State. This donation comes a few weeks after the insurers reminded that insurance contracts were not covering care and claims caused by the Covid-19.

 "As you know, pandemics are declared by the World Health Organization (WHO). This is the case with Covid-19. As such, it should exclusively be covered by the State, which takes all the measures appropriate to a case of absolute force majeure, regardless of the guarantees provided for in the insurance contracts. Consequently, we kindly ask you to inform your members that the death coverage, contained in both group credit and account holder contracts, is not acquired for claims related to Covid-19," the President of Asac wrote to his counterpart at the Bankers' Association on April 22, 2020.


Medicis Sarl plans to invest XAF5.7 billion for the construction of a haemodialysis centre in Cameroon. To encourage and facilitate the realization of...
On 18 May 2020, the Cameroonian government finally signed a contract for the construction of the country's first 14 electronic toll booths with the...
The Bank of Central African States (Beac) recently published a study titled: “Publication des conditions tarifaires par les banques au Cameroun :...
In 2019, Cameroon generated XAF36.59 billion (+24.32%) of transit revenues on the Chad-Cameroon pipeline, according to figures recently published by the...

Mags frontpage

Business in Cameroon n87: May 2020

Roads, dams, fiber optics, markets... Cameroon’s big projects toward integration

«Central Africa is facing enormous challenges» - AfDB

Investir au Cameroun n97 Mai 2020

Routes, barrages, fibre optique, marchés… Les grands chantiers camerounais de l’intégration

« L’Afrique centrale est confrontée à d’énormes défis » (BAD)