The Central African Stock Exchange (BVMAC) continues its growth, with a 13.5% increase to 1,633.7 billion FCFA in June 2024 in the market capitalization of all listed securities compared to 1,439.3 billion FCFA a year earlier.
In its latest 52-page report on the monetary policy of the sub-region, the Bank of Central African States (BEAC) highlighted the good performance of the BVMAC. The evolution of the stock market of the Economic and Monetary Community of Central Africa (CEMAC) is linked, according to the BEAC, to the listing of new securities and the increase in the value of certain securities.
The increase in the market capitalization of all listed securities is accompanied, in fact, by the increase in volumes and values both for free-trading operations, concerning transaction costs borne by the seller or buyer according to the terms of the agreement, and for pledges, i.e. guarantees granted to a creditor by a debtor. Despite this positive assessment, the unified stock market of CEMAC is struggling to attract more companies and to face the competition from the BEAC public securities market.
The Central Bank also focused on the increase in transfers of securities without counterpart, going from 991,798 securities to 6,041,250 securities exchanged during the same period, representing a shift in value from 45.5 billion to 67.5 billion FCFA. According to the Central Bank, this performance of the segment of transfers of securities without counterpart contrasts with the operations recorded during the same period on the stock market where only 14 transfer orders received from members, covering a volume of 1,469 shares, were executed by the Single Central Depository.
In total, 6,039,831 bonds estimated at 67.4 billion FCFA, or a nominal value of 144 billion FCFA were traded. In this table, the values of Gabon, BDEAC, Cameroon and Chad represent respectively 47.6%, 26.6%, 25.7% and 0.02% of the volumes traded. Gabonese bonds were the most requested with 66.3% of the overall volume, ahead of Cameroon (18.9%), Chad (10%), BDEAC (4.7%) and Congo (0.2%).
