A new deadline has been set by the board of directors for the appointment of a new managing director at the Central African Securities Exchange (BVMAC). The information published on June 1, 2021 by the chairman of the board of directors Henri Claude Oyima indicates that the directors have “decided to extend the mandate of the chief executive officer until December 31, 2021, with a view to the completion of the process in during the recruitment of the new general manager ”.
A decision that will consolidate Director General Jean-Claude Ngbwa in his post for the next six months, especially as this is not the first time that the related call for tenders has been unsuccessful.
According to our information, the choice of this leader is one of the priorities, especially as the financial market of Central Africa whose merger took place on July 4, 2019 has since struggled to take off to position itself as a catalyst. development.
Analyzing the performance of the market over the past twelve months, the Board of Directors noted “a decline in the market capitalization of the equity compartment and a decrease in the overall volume of transactions”.
Based on figures as of December 31, 2020, BVMAC’s capitalization stood at FCFA 634,578,832,759 ($ 1.1 billion) against FCFA 735,607,945,119 ($ 1.3 billion) in 2019, ie a decrease of 14% respectively -0.26% for equities and -14% for bonds.
Mandate was given to the Director General, to revive the Member States on the need to accelerate the application of the measures contained in the additional act of February 19, 2018 relating to the unification of the financial market of the Economic and Monetary Community of Central Africa (CEMAC).