CIMA, a tremendous success

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This anniversary highlights an organization that has become an example of sectoral economic integration that deserves to be known and, above all, duplicated.

Like Africa Re in the field of reinsurance on a continental scale, CIMA's success in the insurance sector is not only accounted for by the turnover it posted but also and most importantly in view of its institutional aspect.

In fact, few people in the 1970s and 1980s would have bet on an integration project of this scale. Back then, the zone's insurance markets were so engulfed in chronic economic crises and undermined by poor management practices that such a project seemed utopian, and all the more doomed to failure since it applied to an economic area that was not very prone to rigor.

As a result, thirty years after its birth, CIMA is now the embodiment of success. Year after year, step by step, the 14 member states have succeeded in setting up and refining a true common insurance market.

Today, CIMA imposes its accounting rules, regulates, organizes and controls the insurance, reinsurance and takaful activities of insurance intermediaries in an economic area that covers 6.53 million square kilometers with a population of 188 million inhabitants.

An outstanding success story that could inspire other African countries and groups.

Atlas Magazine N°193 July 2022 [1]