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Asset management companies now invest in bond issues in the CEMAC zone

Harvest Asset Management, leader in asset management in the CEMAC zone, has mobilized 2 billion FCFA for the bond loan of 106.8 billion FCFA made from December 21 to 29, 2020 by BDEAC. Long reserved for individuals, banks and insurance companies, Public Calls for Savings (APE) are now open to asset management companies.

A provision authorized by the Commission de surveillance des marchés financiers (COSUMAF) to allow States and organizations to broaden their investor bases. It is in this logic that Harvest Asset Management, leader in asset management in the CEMAC zone, mobilized 2 billion FCFA for the bond loan of 106.8 billion FCFA, carried out from December 21 to 29, 2020 by the Bank for the Development of Central African States (BDEAC).

That is more than 6 billion FCFA more than the 100 billion FCFA requested through the operation called “BDEAC 5.45% NET 2020-2027”. This unprecedented participation of a new category of investors, Asset Managers, is a first in the CEMAC zone for this type of issue.

With 2.01 billion FCFA subscribed, or 1.9% of the total, asset managers are making a remarkable entry by positioning themselves in fourth position in terms of contributions behind banks (82%), insurance companies (7.7% ), natural persons (5.6%) and before other legal persons (1.4%) and microfinance (0.9%). Indeed, asset or portfolio management is an activity consisting in managing the money of financial partners in order to make it grow as much as possible, while achieving capital gains over a long period.

The aim is to maximize profits, which suggests investing in stocks, mutual funds or even open-ended investment companies. The BDEAC operation, the assembly of which was led by Société Générale Capital Securities Central Africa, Upline Securities Central Africa (BCP Group) and Afriland Bourse et Investment, was a real success with a subscription rate of 106.8%. The funds mobilized by BDEAC will be used to finance the implementation of priority integrative projects of the Regional Economic Program of the CEMAC zone in local currency.

The presence of the regional leader in asset management, Harvest Asset Management (CFAF 70 billion in assets under management) reflects the company’s desire to be part of the sub-regional financial market on a long-term basis and to participate actively, on behalf of of its customers, to development projects in the CEMAC zone. Marc Kamgaing, CEO of Harvest Asset Management, took part, on January 13, 2021, as an investor, in the launch of the sub-regional campaign to promote the securities of the Gabonese treasury.

Libreville wants to mobilize 885.5 billion FCFA including 563.5 billion FCFA in Assimilable Treasury Bonds (BTA) and 320 billion FCFA in Assimilable Treasury Bonds (OTA) for the account of 2021. Funds that will allow Gabon to carry out its development projects and revive its economy.volume_upcontent_copysharestar_border