The Central African Securities Exchange (BVMAC) has just launched a call for applications for the appointment of a new managing director as the regional financial market seeks new life. Can only apply until March 31, 2021, nationals of countries of the Economic and Monetary Community of Central Africa (CEMAC) meeting the criteria set out in the management of high finance published in the press release including Financial Afrik was able to consult.
The expected change comes following the interruption of the process of appointing a new managing director launched in 2020 by the Bank of Central African States (BEAC) in its capacity as sole custodian of BVMAC until 2022. in accordance with the decision of the heads of state of CEMAC on the unification of the regional market provided for an interim period until the end of 2019.
Process interrupted by the board of directors of the Central African Regional Securities Exchange meeting on February 20, 2020 at its headquarters in Douala in the presence of its president Henri Claude Oyima, who had referred the recruitment of a new managing director to the January 1, 2021. This means that the current process for the appointment of a new leader complies with the regulatory provisions, the current CEO, also former director general of DSX only providing the interim at the head of the regional stock exchange.
The recruitment of a new manager in place of the Cameroonian Jean-Claude Ngbwa at the end of his mandate also intervenes in a context aimed at the revitalization of the activities of the regional stock exchange, especially since the merger on July 4, 2019 between the two Financial markets of the time, in this case, the BVAMC and the DSX (Douala stock exchange) is struggling to produce the desired effect.
Beyond the declarations of the leaders of the sub-region to breathe new life into the financial market, the BVMAC is struggling to really take off, the companies operating in the CEMAC zone are not in a hurry for stock market quotation operations. , both in the operations and bonds compartment.