Economy & Politics

CIMA: Cameroonian Blaise Abel Ezo’o Engolo, new Secretary General

New blood at the General Secretariat of the Inter-African Conference on Insurance Markets (CIMA) with the election of Blaise Abel Ezo’o Engolo. Twelve of the fourteen West and Central African countries that make up this organization set their sights on him on December 4, 2020 in Lomé, Togo, where the Cameroonian, the only candidate for the post. The information which echoed the national press was confirmed by the Ministry of Finance which piloted this candidacy.

In accordance with customary practice, the formalization of this appointment is suspended from the lips of the President of the Council of Ministers, which, in reality, is a mere formality. He will then be able to return to his post in Libreville, the seat of this institution. The new boss of the banking sector gendarme in Central and West Africa replaces his compatriot Issofa Ncharé who will have spent five years there.

It will be necessary to wait for the assumption of functions to know the roadmap of the new Secretary General of CIMA, even if everything suggests that his work will not be easy. Among other things, it will be a question of applying the reforms initiated in this sector, in particular the passage of the share capital to 3 billion FCFA as of May 2019 and of which we can see the delay in the implementation of this measure.

In all likelihood, one of the thorniest issues will undoubtedly be the passage of the share capital to 5 billion FCFA from May 2021, especially as insurance companies are seriously affected by the health crisis linked to COVID- 19. According to sources, some insurance companies are in favor of maintaining share capital at 3 billion “while waiting to see the development of activities over the next two years.”

Previously Director of Insurance at the Cameroonian Ministry of Finance, Blaise Pascal Ezo’o Engolo knows the insurance sector well, since December 2019 he has been Chairman of the Board of Directors of the Reinsurance Company of the Member States of the Conference. Interafricaine des Marchés d’Assurances (CICA-RE).

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