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Cameroon: Douala to become CEMAC’s new financial center

Criticized for years by market analysts and experts, the presence of two stock exchanges in an economic community was considered as an embarrassment and the actual manifestation of national selfishness.

Following the summit of the Heads of States of CEMAC on October 31, 2017, in Ndjamena, Libreville will not host the headquarters of the Central African stock exchange (BVMAC) anymore. The conference of Heads of States decided the transfer of the regional stock exchange, which up till now was in Libreville, to Cameroon’s capital.

At the same time, while the conference decided to keep the headquarters of the regional financial market regulator in Libreville and, move the headquarters of the regional stock exchange to Douala, it also appointed the Bank of Central African states as the central depository.  

This decision ends disputes between these two stock exchanges. Henceforth, stock market transactions will take place In Douala. This should grow the market and encourage companies which were reluctant to list on the stock exchange.

BIC

Concord Essen

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Cameroon Concord  is an online publication covering and reporting on  local and world news, sports, entertainment, politics, business, and religious news. Serving Cameroonians .

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