The African Insurance Supervisory Authorities Organisation (OAISA) is set to establish a headquarters in Cameroon following and agreement with the Cameroonian Government.
Boubacar Bah, President of the Executive Committee of OAISA, and Félix Mbayu, Deputy Minister to the Cameroonian Minister of External. Relations in charge of relations with the Commonwealth, signed the headquarters agreement on June 21, 2023, in Yaoundé, Cameroon’s capital.
According to Mbayu, this agreement is a “gift that will allow OAISA to establish its headquarters, and expand its fields of action and its socio-economic impact for the benefit of populations”. As for Bah, he said, “Having the headquarters in Cameroon will bring social protection, which is very important”.
A headquarters agreement is a treaty signed between a state and an international organization that grants the latter and its agents autonomy across the country concerned. The document also gives the agents privileges such as immunity and protection.
The OIASA was created 34 years ago in Yaoundé.
