The African Insurance Organisation (AIO) has renewed its heathquaers’s agreement with the Republic of Cameroon, which it signed with the West-Central African country 38-years ago.
On the 25th February 2000, the Government of the Republic of Cameroon graciously offered the AIO a building to harbour its General Secretariat at Avenue de Gaulle in Bonanjo, Douala.
Tope Smart, president of the AIO said at a ceremony in Duala that by revising our headquarters agreement, President Paul Biya has once again proven that he is a real architect of inter African co-operation as enshrined in the missions of the African Insurance Organisation.
While thanking the president and people of Cameroun for the gesture, Tope Smart said the AIO IS particularly touched by the several advantages the government of the Republic of Cameroon is granting our organisation in this agreement.
“We can cite: The holding of funds in local currency or hold foreign currency bank accounts, the possibility to transfer AIO funds or currencies or convert any currencies held by us into any currency, tax exemptions, immunity and protection of our expatriate staff, advantages to local staff etc. The list is long, and for this, we remain very grateful.”
The African Insurance Organisation (AIO), established in 1972, is an international organisation recognized by 48 African governments including the Government of the Republic of Cameroon where its headquarters is located.
The AIO has 446 members from 48 countries in Africa and 14 associate international members from nine countries. Membership is open to actors from the insurance industry, regulatory/supervisory authorities, insurance training centres, national and regional insurance associations and insurtech companies.
The main objectives of AIO are the development of a healthy insurance and reinsurance industry and the promotion of inter-African co-operation.
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