Friday, February fourteenth, the UN says at least 22 people have been killed in a village in the Northwest region of Cameroon. Over half of those killed were children. No one has claimed responsibility for Friday’s incident but the opposition parties blame the killing on the government.
Moroccan company Wafa Assurances Vie gets certification to operate in Cameroon
The
Cameroonian subsidiary of the Moroccan insurance company Wafa Assurances Vie
can now launch its activities.
The experts Committee of the Inter-African
Conference of Insurance Markets (CIMA), the regulatory authority in the
insurance sector in Central and Western Africa, endorsed during an ordinary
session held in Yaoundé from 28 March to 6 April 2016, the favourable opinions
already delivered by the Cameroonian Ministry of Finance and the Regional
Insurance Control Commission of CIMA.
The
new company, according to the previsions of its shareholders, plans to develop
the life insurance market in Cameroon by using the distribution network of the
Société Commerciale de Banque (SCB Cameroun), bank subsidiary of the Moroccan
group Attijariwafa, who also owns Wafa assurances.
Aside
from Cameroon, this Moroccan insurance company is already present in Senegal
and Tunisia, where the banking subsidiaries of its parent company Attijariwafa
Bank were also used to launch it. In addition to Cameroon, CIMA has also issued
to Wafa assurances the approvals to operate in Côte d'Ivoire through two
companies: Wafa assurances Côte d'Ivoire SA, Wafa assurances Vie Côte d'Ivoire.
As
a reminder, Cameroon currently has 23 insurance companies, including 16
non-life companies and 7 life companies. According to CIMA statistics, these
companies had a turnover of FCfa 154.2 billion in 2012, thus confirming the 2nd
place of Cameroon in the CIMA zone, behind Côte d'Ivoire.
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