Plans to revitalize national stock exchange underway

Cameroonian authorities are conducting a study which will lead to the revitalization of the national stock exchange in the Douala stock exchange (DSX).

The project piloted by the Ministry of Finance will allow a greater listing of businesses in the national financial market, which at the end of fifteen years of operation has not been very productive, with only three companies for the action compartment and five institutions for the bond compartment.

In this perspective, the Government is considering "a policy of recovery of the financial market", said Finance Minister Alamine Ousmane Mey, with among others, the implementation of measures, strong incentives both for investors and market intermediaries. These measures include income tax, individuals, tax on corporations and registration fees.

Thus, tax on income from movable capital (IRCM) at the rate of 10 percent for dividends received by shareholders and companies listed on the DSX, the exemption for the net capital gains by physical or legal persons on the market of securities of Cameroon on assignment titles.

These incentive measures include the application of the provisions of the general tax code that grants the reduction of tax for up to 20 percent for traded companies, broadening the base of providers of investment services (PSI) non-bank so as to develop the actions of financial competition, the modernization of the regulatory framework and infrastructure of market, the promotion of transparency and the recess of financial communication, the development of a culture of financial and stock market investors and issuers.

Also on the program, is the improvement of the conditions for access to the market, strengthening the depth and liquidity of the financial market, the real development of the market of public debt, which is a catalyst and a engine of the private debt emissions.