(lavoixdesentreprises.info) – The Central African Stock Exchange had a year 2024 marked by significant growth. This progression observed since the beginning of the year testifies to the resilience of the financial market in the CEMAC zone in the face of global and regional economic challenges.
This dynamism is primarily driven by the bond compartment, which represents 95% of the total capitalization. The arrival of new bond lines, particularly those of the Development Bank of Central African States (BDEAC) and Alios Finance Cameroon, has contributed considerably to this growth. The countries of the region, with 69.5% of the listed debts, dominate the bond market, thanks in particular to the two bond issues of Gabon carried out this year. BDEAC holds 365.8 billion CFA francs of listed debt, while Alios Finance holds 10.5 billion.
Despite this notable growth, the equity compartment of Bvmac remains relatively sluggish, with only 6 listed lines. The Bvmac-ASI index, which measures the performance of listed shares, remained at 959.40 points at the close of the market on August 16th, a level lower than its starting point of 1000 points.
This disparity between the two compartments highlights the challenges facing Bvmac. While the bond market offers financing opportunities to the states and companies in the region, the stock market struggles to attract investors. The low liquidity of the stock market, due to a limited number of listed companies and a lack of depth, is hindering its development.
Bvmac, although in full growth, remains a dwarf compared to the Regional Stock Exchange (BRVM), its West African twin. The BRVM, with a capitalization close to 20,000 billion CFA francs, demonstrates the development potential of regional financial markets.
To develop the Bvmac stock market, it is crucial to encourage the arrival of new listed companies, particularly SMEs and innovative startups. Initiatives aimed at improving market liquidity, such as the creation of investment funds dedicated to Bvmac shares, could also contribute to its growth.
Bvmac has crossed an important threshold by reaching $2 billion in market capitalization. This success is a positive signal for the CEMAC financial market, but there is still much work to be done to develop the stock market and allow Bvmac to compete with its West African counterpart.
S.N.
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