Atlas Magazine March 2014

FANAF, a mature organization

Engulfed in innumerable political upheavals, in chaos for some, in full revival for others, Africa remains a fragile continent. Although hope is permitted in view of the more enviable growth rates reported, the "African miracle" does not solely rest on numbers but also on governance models where some African associations such as FANAF bring unprecedented response to the problems that weaken the continent.

For the non-specialists, FANAF is a professional association of insurers that includes about 180 companies domiciled mainly in 14 countries of French-speaking black Africa. Turnover of all members is certainly modest, accounting for only 60% of the one posted by the Moroccan market. The success of the FANAF is different as it is based on its operating mode.

Unusually for Africa, FANAF is an association led by volunteer leaders, elected by their peers and managed on a daily basis by a small team of employees. It is the product of a "plural" market where it endeavors to unite, around common objectives, representatives of large corporations, small companies, local and international insurers from Western and Central Africa .

FANAF, which is producing "community service", is an invaluable source of statistics, publishing a magazine and various studies and providing continuous information for its members.

The quality of its services and its growing involvement in the search for solutions make of FANAF a privileged partner of the regulatory bodies.

Finally, the icing on the cake, FANAF is an independent, apolitical organization completely free from States’ jurisdiction or influence.

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