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BANKING ACTIONS : Bvmac Registers 160 million FCFA transactions

Since the merger of Douala Stock Exchange and the Central African Securities Exchange (Bvmac) in 2019, the expected results are still struggling to be felt.

The trading session of August 30, 2023 closed with a record of 160 million FCFA transactions. In total, 717 Bange shares, 220 Safacam shares, 92 Socapalm shares and 12 Regional shares made subscribers run. These were respectively exchanged for 148.4 million FCFA at a unit price of 207,100 Fcfa, 5.5 million FCFA (25,205 FCFA), 4.6 million FCFA (50,000 FCFA) and 510,000 FCFA (42,500 F).

Correlatively to the slight increase in the share price of the Equatorial Guinean public bank (+ 0.04 %) and the Cameroon Agricultural Finance Company (+0.42 %), the market capitalization increases and goes from 459.2 billion to 459.4 billion.

Going by Bvmac’s 2021 activity report, Compared to its West African twin, the Regional Securities Exchange (Brvm), Bvmac is still slow to take off and “is in the tail pack of the thirty exchanges on the African continent”. At the Brvm, for example, the Capitalization of the Shares totals 7,714. 4 billion CFA francs while that of the Bonds is estimated at 10,094 billion francs.

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To make the Bvmac more active, Louis Banga Ntolo has the ambition to increase the number of listing days from 3 to 5, that is to say from Monday to Friday, no longer on Mondays, Wednesdays and Fridays as is customary. In addition, the listing of 15 public and parapublic companies from the Cemac states, (Cameroon (ADC, CHC, PAD, Sodecoton) ; Gabon (GPC, Fmct) ; Congo (E2C, CEC, Congo telecom, Congolese Waters) ; Equatorial Guinea (Segesa, (Getesa) ; RCA (Socatel, Enerca, Sodeca) are in a bid to restore the image of the Bvmac.

In the same vein of stock exchange dynamism, the CEO of the Bvmac validated a notice on January 28, 2022, obliging issuers of securities to sign a liquidity contract with their stock exchange company. Specifically, issuers requesting admission of their securities to the coast must make available to a stock exchange company with which they have signed said contracts, a financial envelope and securities using as a basis, the volume of the loan subscribed by the natural person investors.

This contract should be accompanied by a rate of 2 % (for the cash amount raised) and 0.5 % (for the issued securities) made available to the company so that it ensures the animation of the security. Therefore, the financial intermediary is required to intervene on the Bvmac platform by « offering for sale or for purchase and / or both, the security concerned as soon as it notes that over a period of one week from Monday to Friday. There has been no exchange falling within the normal activity of the stock market on this security for which it leads with contracts », which can be read on the Notice N°002/2022 signed by Louis Banga Ntolo.

Sorelle Ninguem

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