The Central African Financial Market Surveillance Commission (Cosumaf) is still bragging about the fallout from its last regular session. On July 15, in fact, the sub-regional institution proceeded, among other files on its table, to examine several requests for approvals.
And at the end of the meeting chaired by videoconference by Nagoum Yamassoum, president of Cosumaf, the gendarme of the financial market in the sub-region “issued ten licenses as shareholders of the Central African Securities Exchange (Bvmac), and the approvals of market intermediaries, in particular to a brokerage firm and to a portfolio management company and their managers ”, we can read in the press release sanctioning the end of the deliberation.
As to the identity of the new shareholders of BVMAC , Cosumaf did not give further details. However, it can be said, according to sources close to the institution, that all the beneficiary financial structures are Cameroonian.
Among these are “the Debt Recovery Fund, Assinco SA, Bati Sarl, the Professional Insurance Company of Cameroon, but also Commercial Bank of Cameroon, Banque Atlantique du Cameroun, Financia Capital, Union Bank of Cameroon , and finally, City Bank Cameroon and Societe Generale Cameroon ”, we learned.
Through this decision by Cosumaf, it was about giving a boost to the merger process, which had already entered its second phase. In short, it is about moving towards “making new market structures more reliable and boosting it through innovations and actions aimed at deepening it”, Cosumaf had already suggested.
