AIO President Commends Govt of Cameroon

Ebere Nwoji
The President African Insurance Organisation (AIO) Mr. Tope Smart, has commended the Cameroonian Head of State President Paul Biya, for revision of the headquarters agreement between the government of the Republic of Cameroon and the AIO.
Smart in a brief remark to this effect noted that in its 50 years of existence as regional insurance body, the headquarters of AIO has been in Cameroun for 38 years.
He said, “We are particularly touched by the several advantages the government of the Republic of Cameroon is granting our organisation in this agreement. “
He enumerated benefits accorded to the organisation over these years as 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 among others.
He said the list was long, adding and for this, we remain very grateful, ”Smart said.
He said the African Insurance Organisation (AIO), established in 1972,was an international organisation recognised by 48 African governments including the Government of the Republic of Cameroon where its headquarters was located.
He said the AIO has 446 members from 48 countries in Africa and 14 associate international members from 9 countries, adding that membership was open to actors from the insurance industry, regulatory/supervisory authorities, insurance training centres, national and regional insurance associations and insurtech companies.