BEAC to research into potential financial markets in the sub-region

BEAC

Fri, 15 Aug 2014 Source: APA

BEAC has launched a request for the recruitment of a consultant for a prospective study on the financial potential of the sub-region. The study will be used to gauge the potential and the depth of the market, anticipate the needs of issuers and prepare them to make use of the market, to allow the Stock Exchange securities of Central Africa (BVMAC) and the other players in the market to develop a real plan development of the activity for feeding to term the side of the sub-regional market square.

The successful candidate must diagnose the functioning of the financial markets of the economic and Monetary Community Central African States (CEMAC) and analyze their development constraints. They must also identify the main companies and institutions likely to register their titles at the BVMAC, develop a plan of action in short and medium term for the lifting of the identified constraints and the enrichment of the coast of this financial centre, and also to support companies.

BEAC had already, in October 2010, launched a request for interested persons for a similar study with the aim of diagnosing the functioning of financial markets within CEMAC, to identify the main companies and institutions likely to include their title at the BVMAC.

These multiple initiatives go in a straight line for the harmonization project of the operations of BVMAC with those of the Stock Exchange securities of Douala (DSX, Cameroon), brought by the Commission for the supervision of the financial market of Central Africa (COSUMAF).

The existence of these two stock exchanges, in a same sub-region, gives rise to intense negotiations for their reconciliation. Four years ago, the Conference of Heads of State of CEMAC had instructed the COSUMAF to "take action to harmonize the two existing financial procurement procedures in the sub-region.

Observers believe that the balance sheet of the financial market in the sub-region remains far below expectations, because it is crystallized by the coexistence of two awards despite the narrowness of space.

Source: APA