The African Insurance Organisation (AIO) has renewed its headquarters agreement with the Republic of Cameroon, which it signed with the West-Central African country 38 years ago.
The government of the Republic of Cameroon, in February 2000, offered the AIO a building to harbour its General Secretariat at Avenue de Gaulle in Bonanjo, Douala.
President of the AIO, Tope Smart, said, at a ceremony in Duala, that by renewing the headquarters agreement, President Paul Biya has once again proven that he is a real architect of inter-African cooperation.
While thanking the president and people of Cameroun for the gesture, Smart said the association is particularly touched by the several advantages Cameroun is granting the organisation in the agreement.
“We can cite many benefits – 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 our expatriate staff and the advantages to local staff. The list is long, and for this, we remain very grateful.”