The subsidy scheme will directly benefit four pre-selected structures following the call for expressions of interest opened in March 2026: Cameroon Hotels Corporation (CHC), Samba Assurances, Gabon Power Company (GPC), and Façade Maritime du Champ Triomphal (FMCT). The allocation will cover the mandatory admission fees to the Central African Stock Exchange (BVMAC), visas from the Financial Market Supervisory Commission (Cosumaf), as well as the legal audit fees of accountants and legal advisors.

The subsidy window aims to stimulate a dynamic of emulation as the sub-regional financial market is struggling with chronic narrowness. A first unsuccessful call for tenders launched in 2025 had not received any application files, illustrating the operators' reluctance to bear the introduction costs. If the four selected entities finalize their listing formalities, the BVMAC's stock compartment will see its workforce increase from 7 to 11 listed companies, mechanically increasing the global capitalization of the Douala stock exchange. However, the beneficiary companies will still have to self-finance the rest of the current operations, including the remuneration of brokerage firms in charge of placement, mandatory financial communication to the public, and the technical structuring of their public offerings.

The concretization of stock exchange listings offers varied refinancing prospects for public and private operators in the monetary union. The owner of the Hilton in Yaoundé (CHC) will mobilize fresh capital for the complete renovation of its hotel infrastructure, while the Gabonese FMCT, already a promoter of a green bond issue of 10 billion CFA francs for the development of the Baie des Rois in Libreville, validates a future financing option by capital increase. The initiative also addresses the slowness of the public administrations of the member states: out of the 17 state-owned enterprises identified in 2019 by five CEMAC countries (four for Cameroon, four for Congo, three for Gabon, three for the Central African Republic, and three for Equatorial Guinea) to be listed on the stock exchange, none has yet finalized its effective listing process.


BCN

Tags: marché financier bourse des valeurs cemac bad subvention entreprises bvmac cosumaf financement