The Bank of Central African States (BEAC) is organizing, on August 26, in collaboration with the cabinet PwC Cameroon, a videoconference focused on “the issue of revitalizing the unified financial market of the Economic and Monetary Community of ‘Central Africa (CEMAC) and IPOs of companies’.
This webinar will allow participants to review the progress already made as well as the different stages of the process of listing companies on the stock market, in order to ensure success. The final objective being to better contribute to the diversification of sub-regional economies for sustained endogenous growth that creates jobs.
The main themes that will be discussed during this meeting are: overview of the state of play of the process of unification of the CEMAC financial market; regulatory framework for the financial market in the area; measures taken by the Central African Securities Exchange (BVMAC) to ensure the management and animation of the regional stock exchange.
It should be noted that the second phase of the CEMAC financial market merger project initiated in July 2019 concerns: the reform of the regulatory framework relating to market activities in the said zone, the viability of new market structures (regulator, stock exchange and single central depository) so that they can better support its development, the revitalization of the unified financial market through innovations and actions aimed at its deepening.
This phase, carried out in parallel with the project to deepen the regional Treasury securities market, benefits from the support of certain partners such as: the World Bank, the African Development Bank, the International Monetary Fund (via Afritac center) and the central depository of the Place du Maroc (Maroclear). Since July 2019, progress has been made in this context.
Recall that it was in October 2017 that the heads of state of CEMAC, meeting in extraordinary session, decided on the merger of financial markets. The implementation of this decision was entrusted to the BEAC, which is leading this project with the permanent participation of key market players, namely: issuing entities (non-financial companies, financial institutions, States / local authorities); market intermediaries (brokerage firms, portfolio management companies, etc.); institutional investors; unified financial market structures (COSUMAF, BVMAC, Settlement Bank and single central depository).
This webinar will bring together around 250 participants, including key players in the sector, in particular: representatives of national monetary authorities; those of the BEAC, credit institutions, the union of central African employers, the president of the Professional Association of CEMAC brokerage firms, the director in charge of the merger of financial markets at CEMAC, the President of Cosumaf, the Managing Director of BVMAC, the Director of Financial Markets in charge of the development of the financial sector in Central Africa of the AfDB, as well as professionals of the financial sector.
