The government of Cameroon has been profusely appreciated for unending stream of emblematic grants allowing the African Insurance Organisation (AIO) to operate its headquarters from Douala with exceptional full diplomatic status for the past 38 years.
The AIO president Mr. Tope Smart who is also the Group Managing Director at NEM Insurance Plc, gave the sweeping commendation at the revision of the headquarter’ agreement between the government of the Republic of Cameroon and the AIO at Yaounde at the weekend, with lavish mention of several Cameroonians from inception 50 years ago who made exemplary contributions; for instance Mr. Ephrem Marie-Mba and Mr. Paul Tsala who were respective AIO presidents in 1974 and 1988.
Touched by the several advantages extended to AIO, Smart said, “By revising our headquarters agreement, President Paul Biya has once again proven that he is a real architect of inter African cooperation as enshrined in the missions of the African Insurance Organisation.”
AIO president cites some of these advantages, “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 of our expatriate staff, advantages to local staff etc. The list is long, and for this we remain very grateful.”
He also reminded guests at the Yaounde revision agreement meeting that AIO was 50 years same day June 10, 2022 and the celebration comes up June 27th at Nairobi, Kenya which combines annual conference and 50th anniversary celebration at the Edge Convention Centre under the theme, “Insurance and Climate Change: Harnessing the Opportunities for Growth in Africa.” The theme of the anniversary celebration is AIO at 50: A Call for African Insurance Renaissance.
“Through this reflection, we hope to address serious issues like Africa’s low insurance penetration rate, bringing insurance services closer to our populations and at more affordable costs lifting insurance to the level of a solution to problems rather than a counter for the sale of insurance products only,” he promised.