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Outward bound: New opportunities for Ivorian players to expand in UEMOA
['Obg Admin']
Oxford Business Group
Even though large pan-African and international players dominate the insurance sector in Côte d’Ivoire, and in the CIMA region more broadly, Ivorian insurance players have an eye on extending their operations in UEMOA. In North and Southern Africa, Ivorian players need to comply with additional requirements like notations, accreditation from internationally recognised agencies, higher minimum initial capital and partnerships with local investors, which are not enforced in CIMA,” Luc Noubissi, senior insurance specialist at CIMA, told OBG. At the same time, there has been increasing harmonisation of the insurance landscape of the region, as seen in Morocco, Cameroon, Gabon, Burkina Faso, Senegal and Kenya, which is reflected in the growing dominance of the top-five players in Côte d’Ivoire.